575 Carmella Drive, Arroyo Grande, California 93420, Arroyo Grande, 93420 - 4 bed, 3 bath
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Arroyo Grande, California 93420
This Versatile Central Coast Property represents a Strong Value Opportunity, listed at $899,000—positioned well above the $864,206 Fair Market Value by 4%. While the property lacks instant equity, its Fair Condition Rating and unique Converted Studio-Style ADU with separate meters provide significant income potential. The layout offers flexibility for multi-generational living or rental revenue in a high-demand location. This asset is ideal for Buy-and-Hold Investors seeking rental income or Owner-Occupants looking to offset mortgage costs through house hacking.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 575 Carmella Drive Subject | $899,000* List Price | 4 | 3 | 1,428 | $600 | - |
A 555 S Halcyon Sold | $750,000 | 4 | 2 | 1,498 | $501 | 0.6 mi |
B 1484 Ash Street Sold | $730,000 | 3 | 2 | 1,370 | $533 | 0.5 mi |
C 1323 Glenbrook Sold | $900,000 | 3 | 2 | 1,380 | $652 | 0.3 mi |
D 544 Carmella Sold | $775,000 | 3 | 2 | 1,120 | $692 | 0.0 mi |
E 857 Forest Glen Drive Sold | $989,000 | 3 | 2 | 1,610 | $614 | 0.6 mi |
F 1178 Pacific Pointe Way Sold | $700,000 | 2 | 2 | 1,300 | $538 | 0.1 mi |
G 1176 Maple Street Sold | $760,000 | 3 | 2 | 1,303 | $583 | 0.6 mi |
H 807 Park Way Sold | $721,000 | 3 | 2 | 1,344 | $536 | 0.9 mi |
I 421 Golden West Place Active | $775,000 List Price | 3 | 2 | 1,307 | $593 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1971, the property has been 'refreshed little by little' with recent updates including modern LVP flooring, shaker-style kitchen cabinets, and stone countertops. The interior appears well-maintained and move-in ready, though it retains older wall-heating systems.
The property features a converted studio-style ADU with its own address and separate electrical meter, offering excellent opportunities for rental income or multi-generational living.
Situated in a desirable Arroyo Grande neighborhood east of the 101, the home is minutes from beaches, dining, and shopping, providing a high-demand Central Coast lifestyle.
With a total of 4 bedrooms and 3 bathrooms across the main house and ADU, the floor plan offers significant flexibility for guests, home offices, or extended family.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1428, other record living area = 1026. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Built in 1971 and described as having a 'lived-in feel' with incremental updates, the property likely requires further modernization and cosmetic investment to reach its full market potential.
At 1,428 square feet for a 4-bedroom configuration including the ADU, the individual living spaces and bedrooms may feel small or cramped for larger households.
Possible Seller Financing Available! Seller may consider owner financing for qualified buyers. Terms subject to seller approval. Welcome to Arroyo Grande! A versatile Central Coast property offering comfort, flexibility, and income potential. 3-bedroom, 2-bath home with a permitted attached garage conversion offering a private living space complete with a kitchenette, full bathroom, private entrance, separate address, separate electrical meter, and separate laundry. This versatile space is ideal for multigenerational living, extended family, guests, a private home office, or potential rental income (buyer to verify all intended uses and local regulations).Additional features include a brand-new carport, provides convenient covered parking. Conveniently located just minutes from the beach, shopping, restaurants, and everything the Central Coast lifestyle has to offer.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,428 | 2,434.5 |
| Lot Size | 6,416 | 19,593.3 |
| Price | $899.0K | $1.15M |
| Price per sq ft | $630 | $545 |
| Built year | 1971 | 1997 |
| HOA | $0 | $152 |
| Days on market | 60 | 49 |
May 23, 2026
$899,000
Initial Listing
Aug 28, 2024
$635,000
Public Record