
Los Osos, California 93402
This Single Family Residence represents a High-Potential Investment Opportunity, listed at $860,000—positioned above the $827,293 Fair Market Value by 3%. While the property requires a premium, it offers significant long-term value through owned solar panels, a 5-year-old roof, and a prime location in Cuesta-by-the-Sea. With a Condition Rating of 4, the home provides a solid foundation for cosmetic updates to modernize the dated interior. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal lifestyle near the Back Bay.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 557 Mitchell Drive Subject 2 bd · 2 ba · 1,134 sqft · $730 | $860,000* List Price | 2 | 2 | 1,134 | $730 | - |
A 1545 6th Street Sold 2 bd · 2 ba · 1,200 sqft · $613 · 0.5 mi | $735,000 | 2 | 2 | 1,200 | $613 | 0.5 mi |
B 550 Mitchell Drive Sold 2 bd · 1 ba · 888 sqft · $804 · 0.0 mi | $714,000 | 2 | 1 | 888 | $804 | 0.0 mi |
C 1884 10th Sold 2 bd · 2 ba · 1,064 sqft · $653 · 0.7 mi | $695,000 | 2 | 2 | 1,064 | $653 | 0.7 mi |
D 1850 Doris Ave Sold 3 bd · 2 ba · 1,465 sqft · $717 · 0.2 mi | $1,050,000 | 3 | 2 | 1,465 | $717 | 0.2 mi |
E 347 Garden Sold 1 bd · 2 ba · 795 sqft · $943 · 0.4 mi | $750,000 | 1 | 2 | 795 | $943 | 0.4 mi |
F 589 Mar Vista Sold 3 bd · 2 ba · 1,075 sqft · $767 · 0.7 mi | $825,000 | 3 | 2 | 1,075 | $767 | 0.7 mi |
G 1000 Santa Maria Active 2 bd · 2 ba · 1,200 sqft · $549 · 0.9 mi | $659,000 List Price | 2 | 2 | 1,200 | $549 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1962, the home is well-maintained but shows its age in key areas. While it features a newer roof (5 years old), solar panels, and fresh paint, the kitchen and bathrooms are dated with older cabinetry and tile countertops. The bathroom specifically retains a vintage pink tub and older fixtures, placing the interior renovations in the 15-30 year range.
Situated in the coveted Cuesta-by-the-Sea neighborhood just steps from the Back Bay, the property sits on a generous 6,000-square-foot level lot, offering rare outdoor space and proximity to the water.
The home features significant high-value improvements, including owned solar panels, a newer five-year-old roof, and dual-pane windows, providing long-term energy savings and reduced maintenance costs.
The thoughtfully designed open floor plan is enhanced by skylights, fresh interior paint, and French doors that create a seamless indoor-outdoor flow to the private, landscaped backyard.
With only two bedrooms and 1,134 square feet of living area, the home may be too small for growing families or buyers requiring a dedicated home office.
The 1.5-bathroom layout lacks a second full bath, which could be a drawback for buyers expecting more comprehensive facilities at this price point.
Welcome to 557 Mitchell Drive, a truly distinctive home in Cuesta-by-the-Sea, one of Los Osos’ most coveted neighborhoods, just steps from the Back Bay. Set on a level 6,000-square-foot lot, one of the largest on the block, this residence offers 2 bedrooms, 1.5 bathrooms, and 1,134 square feet of single-level living with views of the surrounding hills. Thoughtfully maintained and upgraded over the years, the home features a 2022-installed roof with owned solar panels, and a 2022-repainted exterior. Inside, the open floor plan is filled with natural light from skylights and large dual-pane windows. The living room serves as a natural gathering space and flows into the dedicated dining area. At the heart of the home, the spacious kitchen features updated stainless steel appliances, abundant counter and storage space, and a garden window overlooking the backyard. Both bedrooms offer ample closet space, with the primary bedroom featuring a concealed walk-in closet and French doors that open onto the back patio. The full bathroom offers a separate tub and shower, complemented by a convenient half bath. Outside, privacy-fenced front and back yards provide landscaped gardening space, an open patio, and plenty of room for outdoor activities and entertaining. An attached two-car garage with direct interior access adds everyday convenience, with additional storage and a workshop area behind it. With its thoughtful layout, quality finishes, and setting amid the natural beauty of Los Osos, this is an ideal choice for anyone seeking the best of convenient, single-level coastal living near the water.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.8 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,134 | 1,493.5 |
| Lot Size | 6,000 | 6,331.944 |
| Price | $860.0K | $925.8K |
| Price per sq ft | $758 | $645 |
| Built year | 1962 | 1976 |
| HOA | $0 | $0 |
| Days on market | 9 | 43 |
Oct 15, 2026
$860,000
Initial Listing
Nov 21, 2002
$339,000
Public Record
May 25, 2001
$265,000
Public Record