2873 & 2871 Studio Drive, Cayucos, CA 93430

• 6 beds |
• 3 baths |
• 2,772 sqft

Property Description

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.

Listing Status:

Active

Date Added:

February 2, 2026

Data Last Updated:

March 12, 2026 at 10:21PM

Listing Office:

Keller Williams Realty Central Coast : 805-773-7777

Listing Agent:

CJ Hegney : 805-773-7777

MLS ID:

PI26013165

Interior

• General: Beamed CeilingsBalconyCeiling Fan(s)Separate/Formal Dining RoomEat-in KitchenHigh CeilingsLiving Room Deck AttachedMultiple StaircasesPantryRecessed LightingStorageBedroom on Main LevelMain Level PrimaryPrimary SuiteWalk-In Closet(s)
• Appliances: 6 Burner StoveBuilt-In RangeDishwasherGas OvenGas RangeMicrowaveRefrigeratorRange HoodVented Exhaust FanWater Heater
• Laundry: In Garage
• A/C: None
• Heating: Central
• Fireplace: Family RoomGasGuest AccommodationsLiving RoomFireplace
• Disability Feature: None

Exterior

• General: Lighting
• Other Structures: PorchDeckPatioCovered
• Pool: None
• Parking: Door-MultiGarage Faces FrontGaragePavedPrivateParking spaces: 3

Construction

• Windows: DrapesScreens
• General: 2Slab

Location

• Road/Access: City Street
• HOA Amenities: 0.0
• Originating MLS: CRMLS_CRM
• School District: Coast Unified
• County: San Luis Obispo

Lot

• Zoning: RSF064272016
• View: BayCoastlineHillsOceanPanoramicRocksWaterView
• Fencing: Vinyl

Utilities

• Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater ConnectedStandard
• Water: Public
• Sewer: Public Sewer

Financial

• Source: CRMLS_CRM