Log In/Sign Up
Your email has been sent.
2873 Studio Dr - OCEAN-VIEW TRIPLEX 3 Unit Apartment Building Offered at $2,600,000 at a 7.54% Cap Rate Cayucos, CA 93430
Executive Summary
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 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.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$196,000
|
$70.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$196,000
|
$70.71
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $196,000 |
| Annual Per SF | $70.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $196,000 |
| Annual Per SF | $70.71 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Sunroom
- Views
- Walk-In Closets
- Wi-Fi
- Yard
- Deck
- Family Room
- Island Kitchen
- Linen Closet
- Mother-in-law Unit
- Mud Room
- Pantry
- Patio
- Porch
- Recreation Room
- Skylights
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
- Floor to Ceiling Windows
Site Amenities
- 24 Hour Access
- Fenced Lot
- Lounge
- Individual Locking Bedrooms
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 4+2 | 1 | - | - |
1 1
1 of 55
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2873 Studio Dr - OCEAN-VIEW TRIPLEX
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.