Check Availability
$6,500,000
↓ $800K (11%)
House - For Sale

4375 Rustic Way

San Luis Obispo, CA 93401
bedrooms
4 Beds
bathrooms
2 Baths
square feet
2300 Sqft
$31,917
Estimated Monthly

About This Property

Welcome to an extraordinary opportunity nestled within the enchanting landscape of San Luis Obispo, where the essence of coastal charm meets the allure of rural living. Situated on just about 10 flat usable acres of pristine land, this captivating parcel embodies the epitome of California elegance, offering a sanctuary of unparalleled beauty just minutes from the city's vibrant downtown, airport, and breathtaking ocean vistas.
Discover the peaceful convenience as you explore this exciting property. This could potentially fulfill the opportunities for development, as well as ranching, equestrian living and of course the discerning homeowner. The main residence situated on 2.2 acres of manicured grounds, beckons with its timeless and understated sophistication. Boasting three bedrooms, two baths, and an unfinished guest unit with bathroom upstairs, this home provides a canvas for personalization and expansion.
Embrace the spirit of sustainability and self-sufficiency with owned solar panels, two septic systems, and a shared well. Step outside to discover a picturesque deck area, with a fabulous built-in barbecue and ample space to bask in the  sun, offering the perfect setting for gatherings with friends and family.
Completing this exceptional property is a detached 1500-square-foot garage, plus bathroom with optimal possibilities for storage, hobbies, and a workshop.
The additional acreage, which sits on over 7+ acres can be accessed via Esperanza and is truly a DEVELOPER'S dream come true! With infinite potential and a location that epitomizes the best of San Luis Obispo living, seize the opportunity and schedule a private viewing!

The manager has listed the unit size as 2300 square feet.
Unit Size
2,300Ft²
Days on Market
82 days
Land Size
9.60 acres
Price per sqft
$2,826
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
-

Listed By

Last updated: 9 days ago (MRMLSCA #NS24030817)

Price History

Date / Event Date Event Price
May 18, 2024 Price Decreased $6,500,000
↓ $800K (11%)
Price Decreased
Mar 5, 2024 Listed by Platinum Properties $7,300,000
Listed by Platinum Properties
May 1, 1998 Sold to Barry E Drake $136,000
Sold to Barry E Drake
Sep 1, 1994 Sold to Barry E Drake, John W Drake $64,000
Sold to Barry E Drake, John W Drake

Property Highlights

Fireplace
Interior Details

Fireplace Information

Fireplace
Exterior Details

Exterior Information

Stucco

Building Info

Overview

    General

  • Bedroom Count: 0
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 418,176
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Vacant
  • Subdivision: PARCEL MAP CO 72 48
  • Land Acres: 9.6
  • Standard Land Use Code: Rural/agricultural-vacant land
  • Legal Description 1: PM 8-87 PAR 3

Ownership

  • Current Owner : DRAKE BARRY E
  • Previous Owner : DRAKE JOHN W
  • Previous Owner 2: DRAKE ALBERTA B
  • Owner Before Previous Owner: DRAKE JOHN W
  • Owner Before Previous Owner 2: DRAKE ALBERTA B
  • Ownership Rights Codes: Trust
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: San Luis Coastal Unified School District
  • Census Tract: 011505

Zoning

  • Zoning: AG

Geography

  • Parcel: 076-362-003
  • Latitude: 35.2386
  • Longitude: -120.659

    Address

  • Full Address: 4375 Rustic Way
  • Address - House Number: 4375
  • Address - Street Name: Rustic
  • Address - Suffix Type: Way
  • State: CA
  • City Name: San Luis Obispo
  • Carrier Code: R002
  • 4-Digit Zip Code: 8106
  • Zip Code: 93401

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $8,283
  • Tax Rate Code Area: 112-030

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $510,400
  • First Open Lien Mortgage Lender: UNITED WHOLESALE MORTGAGE
  • First Open Lien Mortgage Recording Date: Sep 01, 2020
  • First Open Lien Mortgage Loan Amount: $510,400
  • First Open Lien Mortgage Term: 240
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Oct 01, 2040

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $784,847
  • Assessed Land Value: $334,800
  • Assessed Improvements Value: $450,047

    Sales

  • Current Sale Contract Date: Apr 21, 1998
  • Current Sale Recording Date: May 01, 1998
  • Current Sale Transaction ID: 1068627106
  • Current Sale Price: $136,000
  • Current Sale Document Type: Intrafamily Transfer & Dissolution
  • Current Sale Input Document Number: 1998-025334
  • Previous Sale Recording Date: Sep 01, 1994
  • Previous Sale Contract Date: Aug 26, 1994
  • Previous Sale Amount: $64,000
  • Previous Sale Document Type: Intrafamily Transfer & Dissolution

    Last Sale Mortgage

  • First Mortgage Lender: WASHINGTON MUTUAL BANK FA
  • First Mortgage Transaction Date: May 01, 1998
  • First Mortgage Loan Amount: $227,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: Purchase Money Mortgage
  • First Mortgage Loan Due Date: May 15, 2028

    Previous Mortgages

  • Previous Mortgage Lender: HERITAGE OAKS BANK
  • Previous Mortgage Transaction Date: Sep 01, 1994
  • Previous Mortgage Loan Amount: $229,300
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Building or Construction Loan

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About San Luis Obispo


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Frequently Asked Questions

When was property at 4375 Rustic Way built and last sold?
The property at 4375 Rustic Way was built in and last sold on Apr 21, 1998 for $136,000.
How much is this home worth?
The estimated value of the home located at 4375 Rustic Way is $7,072,327.
What are some comparable homes to 4375 Rustic Way?
There are currently no comparable homes to 4375 Rustic Way.

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