1078 Corbett Canyon Road, Arroyo Grande, California 93420, Arroyo Grande, 93420 - 3 bed, 4 bath
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Arroyo Grande, California 93420
This Spacious Country Estate is a High-Potential Investment Opportunity, listed at $2,400,000—positioned well above the $2,303,776 Fair Market Value by 4%. While priced at a premium, the property offers significant utility through its 6-acre lot, detached ADU, and panoramic ocean views. With a Condition Rating of 4, the interior requires cosmetic modernization to reach its full market potential. This versatile asset is ideal for Buy-and-Hold Investors seeking rental income or Owner-Occupants looking for a multi-generational rural retreat.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1078 Corbett Canyon Road Subject | $2,200,000* List Price | 3 | 4 | 3,500 | $634 | - |
A 229 Blue Sky Sold | $1,925,000 | 4 | 3 | 2,729 | $705 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1990 (34 years old), the property is well-maintained but significantly dated. While it features a newer solar system, fresh exterior paint, and some stainless kitchen appliances, the interior is dominated by 1990s-era aesthetics including extensive floral wallpaper, green carpeting, and original cabinetry that require cosmetic updates to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 264845, living area = 3300.
The property includes a 550 sqft detached ADU with a full kitchen and private balcony, offering excellent potential for multi-generational living, a guest house, or rental income.
Situated on 6 acres, the estate features a large metal workshop, fruit and olive trees, and professional landscaping with tiered decks and a fire pit, providing a premium rural lifestyle.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3300, other record living area = 2516.
Built in 1990, the country-style kitchen and traditional interior layout may require updates to meet the aesthetic expectations of modern luxury buyers at this price point.
The vast 6-acre lot, multiple outbuildings, and extensive gardens demand significant ongoing labor and financial investment to maintain the property's condition and curb appeal.
Nestled on about 6 acres in the Arroyo Grande countryside, this expansive property offers a main residence and a detached licensed ADU, complete with all-new exterior paint, panoramic rolling hill views, and a solar panel system. The main home features a 3,500-square-foot layout with 3 bedrooms and 3.5 bathrooms plus the 576 sqft ADU which includes 1 bedrom and 1¾ bathroom located over a two car garage. The garage is also appraised at 576 sqft. Inside, a grand entryway leads to a formal living room with high ceilings and a fireplace, alongside a dedicated dining room and a country-style kitchen with a center island and breakfast nook. The main house also includes a casual family room, a home office with built-in shelving, a large laundry and craft room, and a primary bedroom suite with a walk-in closet and soaking tub. The beautifully landscaped grounds feature tiered backyard decks, a brick patio with a stone fire pit, a garden, and a central gazebo surrounded by structured garden walkways. The acreage includes fruit and olive trees, a large detached metal workshop, and a standalone storage shed. This bright secondary unit features wood-plank ceilings, a fully equipped kitchen, a comfortable bedroom, and a private balcony. This property offers plenty of space and versatility just minutes from the historic Arroyo Grande Village, local beaches, and wineries.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 3,500 | 2,434.5 |
| Lot Size | 264,845 | 19,593.3 |
| Price | $2.20M | $1.15M |
| Price per sq ft | $629 | $545 |
| Built year | 1990 | 1997 |
| HOA | $0 | $152 |
| Days on market | 41 | 49 |
Jul 8, 2026
$2,200,000
$2,400,000
-8% Price Drop
Initial Listing
Jun 11, 2026
$2,400,000
Initial Listing