550 Worcester Drive, Cambria, California 93428, Cambria, 93428 - 2 bed, 3 bath
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Cambria, California 93428
This property presents a Strong Value Opportunity with a List Price of $899,000—positioned well below the $953,949 Fair Market Value by 5%. This valuation gap offers $54,949 in Instant Equity for buyers. Featuring a rare 35-foot height and panoramic ocean views, the home has a Condition Rating of 5, requiring a full interior rehab. The dual-structure layout provides significant rental income potential. This is a high-reward acquisition ideal for Buy-and-Hold Investors or Contractors seeking a value-add project.
Property is extensive renovation needed.
Built in 1974 (50 years old) with no evidence of significant renovations. The kitchens and bathrooms feature original or highly dated cabinetry, tile work, and fixtures. The listing explicitly describes the property as a 'diamond in the rough,' signaling that it requires a full interior rehab and likely updates to aging systems.
Standing at 35 feet, this pre-ordinance three-story home offers rare, unobstructed views of the Pacific Ocean, Hearst Castle, and the Santa Lucia mountains that are no longer possible under current building height limits.
The property features a main residence plus a separate apartment above the garage, providing excellent potential for multi-generational living, a guest suite, or rental income opportunities.
Situated in the highly sought-after Park Hill neighborhood, the property offers a prestigious coastal address with close proximity to Cambria's natural beauty and local landmarks.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 4.
Marketed as a 'diamond in the rough,' the home requires substantial updates and repairs to modernize the 1974 construction and realize its full market value.
With only 1,008 square feet of living space divided between two separate structures, the interior layout may feel restrictive for buyers seeking a more spacious or cohesive floor plan.
Built before the local ordinance that limits homes to 28 feet, this three-story, ~35’ home has views over the rooftops that start at the Pacific Ocean and go north from there, towards Piedras Blancas, Hearst Castle and the Santa Lucia mountains that surround Cambria from the east. The main structure is a one bedroom, two bath house with those incredible views. The other structure is a two car garage with an adjacent laundry room with an apartment above that includes a separate bedroom and an open kitchen/living room area with its own cool views of the ocean, the castle and the mountains as well! This property is a diamond in the rough, waiting for its next version of cool.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,008 | 1,721 |
| Lot Size | 3,500 | 5,325 |
| Price | $899.0K | $1.07M |
| Price per sq ft | $892 | $724 |
| Built year | 1974 | 1983 |
| HOA | $0 | $0 |
| Days on market | 35 | 74 |
Jun 17, 2026
$899,000
Initial Listing
Sep 15, 1992
$150,000
Public Record