Exceptional investment opportunity near downtown San Luis Obispo featuring three income-producing units. This versatile multi-family property offers a desirable mix of classic charm and newer construction, ideal for seasoned investors or owner-occupants. The front residence is an updated 2-bedroom, 2-bath single family home built circa 1910, offering 1,066 square feet of living space. Beyond the front door, an entry foyer leads past a front bedroom to the living room, dining room and galley style kitchen. A nicely sized primary suite is accessed off the living room with a walk-in closet, plus large en-suite bath featuring dual sink vanities and stand up shower. The well-adorned kitchen offers white cabinetry, granite tile counters and pantry space. A second full bathroom and dedicated laundry room with built in desk and storage are at the rear of the house with a door leading to the backyard. House features include tiled flooring throughout, dual pane windows, and neutral paint colors. The home is currently leased for $2,850/month. Situated at the rear of the property is two-story duplex built in 1949, totaling approximately ±864 square feet. Each unit is a 1-Bed, 1-Bath providing efficient and flexible living space and each with their own laundry hookups. These units are currently leased for $1,545/month and $1,570/month + a combined $350/mo utility reimbursement. There are (2) electric meters, (2) gas meters and (2) water meters. With strong in-place rental income and its highly desired location, this property presents excellent prospects for long-term appreciation or multi-generational living.