351 Esparto, Pismo Beach, California 93449, Pismo Beach, 93449 - 2 bed, 1 bath
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351 Esparto
Pismo Beach, California 93449
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
824Sq Ft
4,050Lot Size
Property Price
LIST PRICE$1,050,000
EST. MARKET VALUE
$875,833
19% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,050,000—positioned well above the $875,834 Fair Market Value by -19%. While the current valuation reflects a premium, the 4,050 sqft lot in a prime coastal location offers significant development upside. With a Condition Rating of 6, the existing 1948 structure serves as a blank canvas for a custom coastal masterpiece. Located near Shell Beach Elementary, this is a strategic acquisition ideal for Buy-and-Hold Investors or Custom Home Builders seeking long-term coastal appreciation.
Estimated Market Value
$875,833
Based on Realkey algorithm analyzing recent comparable sales in Pismo Beach.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 351 Esparto Subject | $1,050,000* List Price | 2 | 1 | 824 | $1,063 | - |
A 121 Wawona Sold | $875,000 | 2 | 1 | 846 | $1,034 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1948 and in original condition, this 76-year-old property is marketed primarily for its land value or as a total renovation project. The kitchen is missing appliances and has significant floor damage, and the listing explicitly suggests building a custom coastal masterpiece.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated just steps from the beach in a highly coveted Pismo Beach neighborhood, this property offers exceptional lifestyle appeal and long-term coastal value.
- Significant Development Potential
The 4,000+ square foot lot provides a rare opportunity to either renovate the existing structure or build a custom coastal masterpiece in a premium area.
- Proximity to Top-Rated Schools
Located less than half a mile from Shell Beach Elementary, the property is ideally positioned for families seeking access to quality local education.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4050, other record lot size in square feet = 4317.
- Original As-Is Condition
Built in 1948 and sold in its original condition with no seller credits, the property requires a substantial additional investment for modernizing or rebuilding.
- Limited Existing Living Space
With only 824 square feet of living area, the current two-bedroom layout is undersized for the price point and may not meet the needs of modern buyers without expansion.
About 351 Esparto
Just steps from the beach, 351 Esparto offers the kind of opportunity that rarely comes to market. Whether you're looking for your next renovation project or the perfect site to build a custom coastal masterpiece, the possibilities are endless. The existing home is in its original condition sits on over a 4,000+ square foot lot and is being sold AS-IS, with no repairs or seller credits. Don't miss your chance to invest in one of the area's most coveted beachside neighborhoods!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1948
- Lot Size
- 4,050 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Pismo Beach Unified Schools
Shell Beach Elementary School
Grades K-6 • 0.4 mi
7/10
Judkins Middle School
Grades 7-8 • 2.0 mi
5/10
Arroyo Grande High School
Grades 8-12 • 6.1 mi
6/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.6 |
| Square foot | 824 | 2,134.92 |
| Lot Size | 4,050 | 6,152.24 |
| Price | $1.05M | $1.48M |
| Price per sq ft | $1.3K | $759 |
| Built year | 1948 | 1988 |
| HOA | $0 | $103 |
| Days on market | 64 | 70 |
Pricing History
Listed for Sale
Aug 4, 2026
$1,050,000
$1,100,000
-5% Price Drop
Initial Listing
Price Change
Jul 7, 2026
$1,100,000
Initial Listing
Sold
Oct 20, 2023
$860,000
Public Record