1550 Main St, Cambria, California 93428, Cambria, 93428 - 7 bed, 6 bath
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Cambria, California 93428
This Strong Value Opportunity is a Dual-Residence Asset listed at $1,750,000, positioned well below the $1,869,295 Fair Market Value by 6%. This valuation gap provides $119,295 in Instant Equity. Featuring a Mint Condition Rating for the primary residence and a .92-acre lot, the property offers significant income potential via two separate meters. With Vacation Rental License eligibility and Hill Views, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield, versatile coastal property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1550 Main St Subject | $1,650,000* List Price | 7 | 6 | 3,319 | $563 | - |
A 2146 Cowper Street Sold | $1,800,000 | 6 | 5 | 3,400 | $529 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1965, the main residence has undergone a comprehensive recent remodel (likely <5 years) featuring a modern kitchen with quartz countertops, farmhouse sink, and new cabinetry. The bathrooms are updated with contemporary fixtures, and the interior shows new flooring, recessed lighting, and fresh paint throughout, meeting the criteria for mint condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 40009, living area = 3319.
The property features two separate single-family homes with independent utility meters, currently generating approximately $8,000 in monthly rental income.
Situated on a nearly one-acre lot, the property is eligible for a Vacation Rental License and offers the rare potential for a future lot split.
Being positioned below street level and adjacent to Santa Rosa Creek may present drainage challenges or require specialized flood insurance.
While the back house is updated, the front house is in original condition, likely requiring future capital investment to match the quality and rental ceiling of the main home.
This property is truly a rare find! Nestled in Cambria’s charming downtown, this unique offering includes two single-family homes with two separate residential water meters. Both properties are currently rented generating around $8K a month. The larger home at the back, is a 2,287 square foot home with an open concept that was recently remodeled. The spacious living room flows into a formal dining area, a big kitchen with new cabinets, quartz countertops and featuring a big kitchen island perfect for entertainment. There is also a convenient half-bath off to the living room. A few steps down, you'll find a cozy bedroom, a three-quarter bath, a laundry room, and two expansive one-car garages. Behind the garages, enjoy a private enclosed sunroom—a perfect spot to unwind. Upstairs, the oversized primary bedroom features its own recently remodeled full bath, along with two more large bedrooms and a shared bathroom. The second home a charming 1,032 square foot original front house has been thoughtfully transformed into a 3-bedroom, 1-bath home, complete with a cozy living room, kitchen, and a convenient washer/dryer space. The tenants of 30 years have also created a small private studio with a three-quarter bath. Despite its prime Main Street location, the property is wonderfully secluded, thanks to the retaining wall, lush greenery, and its position below street level. Santa Rosa Creek runs along the back, with a corner of the property extending across the creek into the CCSD yard. Parking is a breeze with a large turnaround driveway—perfect for hosting an RV, boat, or any other toys you might have. And for those who love fresh fruit, you’ll find a variety of fruit trees scattered throughout the property. This one-of-a-kind .92-acre property offers limitless potential! With two separate meters for electricity, gas, and water, there’s also the possibility of splitting the properties—check with SLO County for details. Property is also currently eligible for a Vacation Rental License! Don’t miss out on this incredible opportunity!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 3.0 |
| Baths | 6.0 | 3.0 |
| Square foot | 3,319 | 1,721 |
| Lot Size | 40,009 | 5,325 |
| Price | $1.65M | $1.07M |
| Price per sq ft | $497 | $724 |
| Built year | 1965 | 1983 |
| HOA | $0 | $0 |
| Days on market | 34 | 74 |
Jul 21, 2026
$1,650,000
$1,750,000
-6% Price Drop
Initial Listing
Jun 18, 2026
$1,750,000
Initial Listing
Jun 17, 2024
$1,505,000
Public Record