$2,499,000
Welcome to 2873 and 2971 Studio Drive, a rare luxury THREE UNIT coastal property on one of Cayucos’ most coveted streets, just steps from the sand. Situated on an oversized DOUBLE LOT, this exceptional offering consists of a legal duplex with one residence thoughtfully configured into two separate living spaces, creating three distinct residences in total. The property has been meticulously renovated throughout and delivers an impressive approximate $200,000 in gross annual rental income. The property has undergone significant updates in 2024/2025, including new appliances, new HVAC and wall heaters, new in-slab plumbing, new bathrooms, and updated electrical throughout the home, offering a truly turnkey coastal investment. The main residence offers a modern four-bedroom, two-bathroom layout that is currently separated into upper and lower living areas, each with its own kitchen and private access, connected by an interior door when desired. This flexible design allows the home to function as a single expansive coastal residence or as two independent living spaces, ideal for maximizing income potential or accommodating extended family. The interiors are highlighted by fireplaces, sweeping ocean views, and an open, light-filled layout designed for both everyday comfort and refined coastal entertaining. The second residence is a beautifully remodeled two-bedroom, one bathroom home featuring a gas fireplace and a private, resort-style backyard complete with a covered patio, tranquil water feature, and outdoor kitchen. This residence is perfectly suited for guest accommodations, multigenerational living, or premium rental use. A rare THREE-CAR GARAGE provides additional parking and storage, a highly sought-after amenity in this prime beachside location. With BEACH ACCESS just steps from the front door, panoramic coastal views, turnkey condition, and exceptional layout flexibility, this property presents a unique opportunity to enjoy the ultimate California beach lifestyle while benefiting from strong, proven rental performance. Live in one residence while generating income from the others, or create a stunning multigenerational coastal compound. Opportunities like this on Studio Drive are exceptionally rare and represent a compelling offering for buyers seeking luxury, versatility, and long-term value on the Central Coast.
Click to interact with map
Listed by CJ Hegney with NextHome Central Coast (805) 773-7777
Property Type
Single Family Residence
Status
Active
MLS Number
PI26013165
Year Built
1957
Lot Size
4,400 sq ft