Achieving high spectral efficiency is the key requirement of 5G and optical wireless communication systems and has recently attracted much attention, aiming to satisfy the ever increasing demand for high data rates in communications systems. In this paper, we propose a new precoding/decoding algorithm for spectral efficient optical orthogonal frequency division multiplexing (OFDM) scheme based visible light communication (VLC) systems. The proposed coded modulated optical (CMO) based OFDM system can be applied for both single input single output (SISO) and multiple input multiple-output (MIMO) architectures. Firstly, the real OFDM time domain signal is obtained through invoking the precoding/decoding algorithm without the Hermitian symmetry. After that, the positive signal is achieved either by adding a DC-bias or by using the spatial multiplexing technique. The proposed CMO-OFDM scheme efficiently improves the spectral efficiency of the VLC system as it does not require the Hermitian symmetry constraint to yield real signals. A comparison of the performance improvement of the proposed scheme with other OFDM approaches is also presented in this work. Simulation results show that the proposed CMO-OFDM scheme can not only enhance the spectral efficiency of OFDM-based VLC systems but also improve bit error rate (BER) performance compared with other optical OFDM schemes.