2023 Circle, Cayucos, California 93430, Cayucos, 93430 - 0 bed, 0 bath
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Cayucos, California 93430
This property presents a High-Potential Investment Opportunity with a List Price of $2,395,000—positioned slightly above the $2,301,160 Fair Market Value. While the property requires modernization due to its Condition Rating of 5, the Dual-Unit Income Potential and Active Vacation Rental License provide significant revenue stability in a restricted coastal market. Featuring Panoramic Coastal Views and a Prime Cul-de-Sac Location, this asset offers substantial upside for those willing to execute a strategic renovation. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal income-generating property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2023 Circle Subject | $2,395,000* List Price | 0 | 0 | 2,720 | $846 | - |
A 2023 Circle Active | $2,395,000 List Price | 5 | 3 | 2,720 | $881 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property was built in 1978 (46 years old) and appears to retain its original kitchen and bathrooms. The kitchen features dated 1970s cabinetry, tile countertops with wide grout lines, and older appliances. Bathrooms show original vanities and linoleum flooring. Systems include dated electric baseboard heaters and popcorn ceilings. Per the criteria for properties over 30 years old with original finishes, it requires a full rehab to modernize.
The property features two separate units and a rare, active vacation rental license, offering significant revenue potential in a highly restricted coastal market.
The main residence boasts sweeping ocean, coastline, and hillside views from the upper-level great room and three separate decks, maximizing its coastal appeal.
Situated on a quiet cul-de-sac with abundant parking and easy access to coastal stairs, providing a peaceful setting just a short walk from the beach and town center.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2720, other record living area = 1875.
Built in 1978, the property may require modern cosmetic updates or system upgrades to align with contemporary luxury standards and justify the premium list price.
At a list price of $2,395,000, the property requires a substantial initial investment, which may impact the overall cap rate for investors not utilizing the vacation rental license.
Rare Cayucos opportunity featuring two separate units, abundant parking, and an active vacation rental license, all just a short walk to town and the beach. The street-side 3BD/2BA main home offers sweeping ocean views from the upper-level great room with open-beamed ceilings and three decks—ideal for coastal living or entertaining. Set beyond a generous parking area is a detached 2BD unit with a three-room bonus space for flexible use, plus a large backyard with peaceful coastal hill views. Located on a quiet cul-de-sac with nearby coastal access stairs at 16th and 19th Streets, this property offers multiple use options and excellent income potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 1.5 | 50% |
| Baths | 0.0 | 1.5 | 50% |
| Square foot | 2,720 | 2,057 | 50% |
| Lot Size | 5,600 | 4,107 | 50% |
| Price | $2.40M | $1.80M | 50% |
| Price per sq ft | $881 | $871 | 50% |
| Built year | 1978 | 1971 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 26 | 199 | 50% |
May 11, 2026
$2,395,000
Initial Listing
Jan 9, 1998
$369,000
Public Record
Sep 25, 1995
$300,000
Public Record