263 W Foothill, Property Listing: MLS® #PI24080427

Supplemental Remarks

The historic Madonna-Twisselman Ranch features 360 acres of gently sloping lakefront land nestled between the base of Cerro San Luis along the northern property line and encompassing a portion of Laguna Lake to the southeast section. Cerro San Luis Obispo, or commonly referred to as Madonna Mountain by locals, is a member of the or Nine Sisters, a chain of prominent volcanic peaks stretching east from Morro Bay. A stream runs along the foothill frontage of the property with several intermittent streams running from Cerro San Luis to the lake. The ranch is only 10 miles from Avila Beach to the south, 10 miles from Morro Bay to the west, and despite its rural feel, is located just a few minutes from downtown San Luis Obispo. The San Luis Obispo County Regional Airport is just 6 miles away and offers 3 passenger airlines which serve the airport with nonstop flights to 8 cities. This is an unparalleled opportunity for an astute buyer looking for a ranch with a wealth of possibilities located in the heart of San Luis Obispo. Agricultural Opportunities: The property soil classifications and microclimate are suitable for farming many permanent or rotational crops that the region is well known for. Currently there are no irrigated or dry crops produced on the property. The ranch is presently used for raising brood mares and foals. Subdividing by Lot Line Adjustments: The ranch is comprised of 4 APNs and 7 parcels with recorded certificates of compliance. The ranch offers a buyer an opportunity to reconfigure the parcels into a variety of layouts through lot line adjustments, versus having to go through a lengthy mapping process. After processing a LLA a buyer could sell off some or all of these smaller portions of the ranch at a substantial premium. Future Development Opportunities: The property is not in the Williamson Act and could allow for potential future development, mostly likely as part of a rezone and an annexation into the city. The ranch and surrounding properties are within the Citys Sphere of Influence Area 9. The area is bounded by Los Osos Valley Road to the south and Foothill Boulevard to the east. The City has identified the potential land use for this area as Residential and Open Space. Much smaller ranches in the area that have been annexed into the city and rezoned have sold for over multiple times the asking price of this opportunity. Call for offers due May 24, 2024.

Essential Information

• MLS® #PI24080427
• Listing Price$7,950,000
• Original Listing Price$7,950,000
• List Price per Square Foot$0.51
• Date ListedApril 22nd, 2024
• Days on Market1
• Square Footage15,681,600
• Acres360.00
• Lot Sq.Ft.15,681,600
• TypeLot / Land
• StatusACTIVE

Dues

• HOA Dues$0

Community Information

• Address263 W Foothill
• AreaSAN LUIS OBISPO (93405)
• CountySan Luis Obispo
• StateCA
• Zip Code93405

Amenities

• AmenitiesHorse Trails