tomo logo

$2,400,000

Beds
3
Baths
2.0
sq ft
1,981

3876 Orcutt Rd, San Luis Obispo, CA 93401

3876 Orcutt Rd

San Luis Obispo, CA 93401

  • 91 days on market
    • Price drop $300,000↓
Amazing opportunity to own a unique and beautiful ranch property just outside San Luis Obispo city limits. This 3 bedroom and 2 bath ranch style home boasts an open floor plan with amazing countryside views from all rooms. This property has been owned by the same family since the early 1970's and represents a rare opportunity to own one of SLO counties choicest locations. The single level home is ideal for easy country living. It boasts generous overhangs that provide shade over front entrance and back patio and help to naturally keep the home cooler during hot weather. The kitchen has generous counter space with a double oven. The primary bedroom is spacious with a walk in closet and bathroom which includes a double sink, separate make-up vanity and a generous soaking tub. Property includes a large unenclosed barn, storage shed and several fenced areas which were used for vegetable growing and keeping of farm animals. Buyer has the ability to record the final map under their name and complete the ' public improvement plans" and onsite lot improvements to reap the benefit of a second lot adjacent to the primary home . Processing of this map has been 5.5 years in the making while seller has paid for all city, county, engineering, and environmental processing fees to get to this last stage of the sub-division. Once the improvements are bonded or paid for, buyer will have two APN's, which equates to 4 structures. (2 Primary homes and two ADU's) Phase 2 offered here is the ( mint & purple) on the map photo. Live in the house while you build your dream home behind or adjacent to the existing home. Big family wanting a compound or multi-generational living, this is it! Property is currently licensed as AIRBNB.

Details

Property type

Single Family Residence

Est. home value

$2,245,067

Lot size

4.76 acres

Price per sq ft

$1,212

Year built

1977

Price History

10/10/2024
CRMLS

CRMLS #PI24154054

Price change
$2,400,000
-11.11%
08/05/2024
CRMLS

CRMLS #PI24154054

Listed
$2,700,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

San Luis Coastal Unified

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$1,955,737
Asking price
$2,400,000
Closing costs (~8% of asking)
-$192,000
Est. remaining loan balance
-$252,263
Cash to seller
$1,955,737

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

January 2020

Original loan amount

$344,000

Est. remaining balance

$252,263

Interest rate

3.19%

Loan type

New Conventional, 15 year

Seller

Karen R Colombo and Douglas E Oneal

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/04/2024 at 2:05 PM

Listing updated: 10/10/2024 at 3:48 PM

Listed by: Santino Cattaneo, Comet Realty Phone #: (805) 546-9925

MLS: CRMLS #PI24154054

CRMLS logo

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