Description

Rare Santa Margarita Opportunity-Two Homes on One Acre. Rarely does an opportunity like this come to market! This versatile property features two separate homes, offering an exceptional combination of rental income, multi-generational living, guest accommodations, or future investment potential. The main residence offers 3 bedrooms and 2 bathrooms across approximately 1,080+/- square feet and plenty of usable outdoor space. Raised garden beds, a large storage shed, carport for covered parking, and a cute front deck are just a few perks of this home. A separate 1-bedroom plus office, 2-bath 804+/- square foot guest home with a charming covered porch and a detached two-car garage provides additional flexibility and opportunity. Both residences are currently tenant occupied, generating a combined $2,375 per month in rental income ($1,350/month for the main home and $1,025/month for the guest home) and boast separately metered utilities, providing immediate income for an investor while preserving the potential to enhance the property's value over time. The approximately one-acre setting offers room to spread out, with potential space for horses and other rural lifestyle uses. Enjoy the charm and community of Santa Margarita while remaining conveniently located near San Luis Obispo, Paso Robles, Atascadero, and the Central Coast. Whether you're looking for an income-producing investment, a property for extended family, or a unique opportunity to own multiple residences on one parcel, this rare Santa Margarita offering deserves a closer look. If you're looking to add even more land and a third home, check out the neighboring property at 22815 I Street, Santa Margarita also being offered for sale at $699,900. MLS#NS26216088. BONUS- The sellers are open to considering seller financing for 5-7 years with 20-30% down at only a 4% interest on at least one of these parcels

Property details

Bedrooms

5

Bathrooms

4

Square feet

1,884

Year built

2002

Property type

Residential

Lot size

43,560 sqft

Location

22817 I • Santa Margarita, CA 93453

More homes for sale and rent in Santa Margarita, CA →

Listing Agent

Jessica Baker

DRE #: 01955079

Brokerage: Oaks to Ocean Real Estate

Summer Ramos

Co-Listing Agent

DRE #: 01992070

Brokerage: Oaks to Ocean Real Estate

Similar Listings

Recent sales near 22817 I

22937 I Street: Sold $1,725,000 · 3 bd · 2 ba · 2,368 sqft · Aug 2026 · 0.1 mi
Central Coast Sotheby's International Realty | DRE #01411266
Buyer's agent: General NONMEMBER, NONMEMBER MRML | DRE #NONMEMBER
22550 J Street: Sold $650,000 · 3 bd · 3 ba · 1,532 sqft · Jan 2026 · 0.3 mi
Malik Real Estate Group, Inc. | DRE #01706045
Buyer's agent: Trudy Futak, Malik Real Estate Group, Inc. | DRE #02131465
22450 I Street: Sold $780,000 · 3 bd · 2 ba · 1,092 sqft · Aug 2026 · 0.4 mi
Link Real Estate Group, Inc. | DRE #01933538
Buyer's agent: Travis Holderness, Comet Realty | DRE #02179554
9720 Encina: Sold $800,000 · 3 bd · 2 ba · 1,400 sqft · Aug 2026 · 0.5 mi
Team Diamond Homes | DRE #01408607
Buyer's agent: Lori Bagby, Platinum Properties | DRE #01950556
9555 Estrada Avenue: Sold $725,000 · 2 bd · 1 ba · 1,092 sqft · May 2026 · 0.7 mi
Christie's International Real Estate Sereno | DRE #01868098
Buyer's agent: Lisa Lewis, Central Coast Sotheby's International Realty | DRE #01492410
22070 W Pozo: Sold $477,500 · 3 bd · 1 ba · 1,650 sqft · May 2026 · 0.8 mi
Century 21 Masters | DRE #00619856
Buyer's agent: Mike Sherer, Century 21 Masters | DRE #00930139
0 Lot 27 The Preserve: Sold $815,000 · Jul 2026 · 1.0 mi
6395 Parkhill Road: Sold $1,037,000 · 4 bd · 4 ba · 2,949 sqft · Oct 2026 · 3.6 mi
Ocean West Properties, Inc. | DRE #01454036
Buyer's agent: Travis Avila, Keller Williams Central Coast | DRE #02172242

Closed sales reported in 93453, nearest first, last 12 months. All recent sales in Santa Margarita →

CRMLS

MLS# NS26217018

Listed: 10/15/2026 5:31 PM

Based on information from the California Regional Multiple Listing Service, Inc. as of 10/16/2026 12:37 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

IDX information is provided exclusively for consumers' personal, non-commercial use. Information is deemed reliable but not guaranteed. Buyer should independently verify all information.

Listed by: Oaks to Ocean Real Estate

Equal Housing Opportunity

Advertising Broker: Nalren Corp (CA DRE #02423715)

Licensed in the state of California

Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.

5-Bedroom Residential - 22817 I, Santa Margarita, CA