Two leased units generating ~ $97,200 annually plus approved plans per seller for a future 4-bedroom, 2-bath residence capable of producing an estimated ~$65,000+ in additional annual income. 3281 Rockview presents a strong income-producing property in one of San Luis Obispo’s convenient hillside locations. The property includes a 5-bedroom, 3-bath main residence and a separate 2-bedroom, 1-bath unit, creating a flexible configuration for investors or owner-users seeking rental income with long-term upside. Both units are currently leased, producing approximately ~$97,200 in gross annual rent. Approved plans per seller exist for a future 4-bedroom, 2-bath residence on the property, offering the potential to significantly increase income or expand living space. Buyers should verify permit status, square footage, and development potential with the City of San Luis Obispo. The property also includes two RV parking spaces on the upper portion of the lot, and utilities have been extended on the property per seller. Located just minutes from downtown San Luis Obispo, restaurants, shopping, and major commuter routes, the property benefits from proximity to established neighborhoods and evolving restaurant and retail areas. Both 3281 and 3291 Rockview are offered for sale, creating the potential for a larger estate footprint or expanded investment strategy.