Welcome to 390 Islay and 1545 Carmel ideally situated on a spacious, yet private 8400 square foot corner lot with R2 zoning in the heart of downtown SLO. This private downtown craftsman has an attached rental unit and gorgeous Cerro San Luis mountain views! So many options with this property, plus, character and charm around every corner. Choose to use it as one large home or keep it as is with 390 Islay as 4 bed, 2 bath and 1545 Carmel as a guest house or income source. There is a hidden door within the wall that connects the two homes, which can easily be closed up to keep as two units. Both units have their own entrances through charming semi-wrapped front porches and private front yards, due to the beautiful hedges that surround the property. 390 Islay features wood floors throughout, bay windows with amazing light, stunning high cathedral ceilings, a wood burning fireplace, a cozy breakfast nook with natural light from the attached backyard deck, a large upstairs loft that could serve as a master bedroom, two more bedrooms upstairs, a downstairs bedroom with attached bathroom and separate entry, plus one more bathroom downstairs. 1545 Carmel also features wood floors throughout as well as victorian redwood panel walls, skylights, a spiral staircase that leads to two bedrooms and an adorable loft sitting area with an amazing view of Cerro San Luis mountain. Don't miss the garden setting in the large front and backyards, with mature trees or the two private decks for entertaining, both of which have stunning mountain views. There is also a detached single car garage with additional space next to it to expand to a full two car garage, workshop, with optional ADU above. The convenience of this location is unbeatable! Walk to farmers market, restaurants, shopping and parks. Check out the virtual tour and schedule your showing before this one is gone! All information deemed reliable. Buyer to do their own due diligence.