Rare opportunity to own one of the few remaining undeveloped residential parcels in downtown Templeton. Encompassing approximately 0.54 acres, this exceptional homesite includes two purchased Templeton Community Services District (TCSD) water units and offers potential for a future lot split, subject to County approval. Ideally situated just blocks from Templeton Middle School, Templeton High School, downtown restaurants, parks, shopping, and convenient Highway 101 access, this property offers an exceptional blend of location, utility infrastructure, and future potential. Mature oak trees provide natural beauty and privacy while leaving ample space to design and build your custom home in one of Templeton's most desirable neighborhoods. According to Templeton Community Services District, one 1-inch water meter is currently active, and the second purchased water unit transfers with the property. TCSD has indicated the second water unit may potentially be assigned to a newly created parcel if an approved lot split is completed. The parcel is also identified by San Luis Obispo County as SB9 Eligible, offering additional future development possibilities, subject to County approval and all applicable regulations. A geotechnical engineering report has been completed and is available in the MLS supplements, along with the parcel map, preliminary title report, TCSD water information, and Urban Lot Split Eligibility documentation. Whether you're planning to build your dream home, create a multigenerational living opportunity, or explore future development potential, properties like this are becoming increasingly rare in downtown Templeton.