This charming property offers a unique investment opportunity nestled within San Luis Obispo's Historic Downtown District. The lot features three units: a nicely updated main house, and at the back of the property, a duplex with two studio apartments, added in 1987. The 1033 sq ft main house boasts timeless appeal with the living room bathed in natural light from picturesque windows and flowing seamlessly into a dining room featuring a built-in buffet. The updated kitchen blends modern convenience with historic character, showcasing newer flooring, cabinets, appliances, and fixtures, along with the original pass-through counter, shelves, and pantry. The bathroom includes a pedestal sink, a classic cast-iron tub, and decorative wainscoting. A private backyard offers a serene space for gardening and entertaining, and the spacious bungalow front porch is a great place to relax with a book or chat with friends. Each of the two studio units in the duplex provides approximately 449 sq. ft. of comfortable living space indoors, with sliding glass door access to a private creekside deck. These open-concept studios include a kitchen, a full bathroom, and a laundry closet conveniently located on the deck. Residents will enjoy relaxing on the private decks surrounded by lush landscaping. The 8,000 sq. ft. lot offers off street parking, and ample opportunities for expansion or additional enhancements. Its prime location ensures proximity to downtown amenities, adding significant appeal to this property. Whether you're looking to invest, live on-site, or rent out all units, this property combines historical charm with modern updates, making it a standout opportunity.