$2,000,000
Skip years of coastal entitlement risk. This 0.34± acre parcel is fully entitled and ready to build, zoned Residential Multi-Family under a site specific Planning Area Standard adopted by San Luis Obispo County and certified by the California Coastal Commission in February 2025. That means the hardest, slowest, most expensive part of a coastal development deal is already done. The entitlement was written to maximize upside. Future development must be a multi-family residential project, apartments or for-sale condominiums, with a minimum density of 15 units per acre, approximately 5 units, and proposals are directed to push the total unit count beyond that 5 unit minimum wherever possible. The site is exempt from the intensity standards of Section 23.04.084, removing one of the biggest constraints developers face on infill sites. Even better, maximum height is measured from the centerline of Birch Avenue rather than natural grade, a real advantage on this site that opens the door to more square footage per unit. Architectural concept plans already illustrate an 8 unit condominium design with subterranean parking, giving a buyer a proven blueprint for unit mix and yield. One block from Hardie Park, near Cayucos Elementary School and the heart of Cayucos, minutes from the beach in a market where entitled multi-family land rarely comes available. Companion parcel at 249 Cayucos Avenue also available, sold separately, for a buyer who wants to control the whole block. Buyer to independently verify all information with the County of San Luis Obispo.
Listed by Karlie Montgomery with Luxton Real Estate (805) 391-0241
Property Type
Land
Status
Active
MLS Number
NS26167940
Year Built
N/A
Lot Size
0.34 acres
