The Only Home for Sale in Cayucos Under $1 Million: Is It the Right Fit for You?

Buyers looking for a foothold in Cayucos under $1 million have exactly one choice right now: a two-bedroom, one-bath condo at 150 Cypress Ave #28. Priced at $789,000, this upper-front unit offers a rare chance to own in a highly desirable coastal town at a price point that’s become increasingly scarce.

While the condo is compact at 810 square feet, it makes the most of its location. The Cypress Cove complex sits on the ocean side of Highway 1, just steps from the beach, Cayucos Pier, and downtown shops and restaurants. From the living room, you’ll get peek-a-boo ocean views and sunsets, giving the space a connection to the coast that’s hard to match in this price range.

This unit isn’t just about charm—it’s been updated with a new roof, siding, windows, and fresh luxury vinyl floors. The condo is an end unit with no one above, offering more privacy and less noise than typical apartment-style units. And with a monthly HOA of $300, it’s a low-maintenance option for buyers who prefer simplicity.

The likely buyer for this property is someone looking for a lock-and-leave second home, a weekend getaway, or a low-hassle retirement downsizing option. Investors might also see potential, though short-term rental restrictions and tenant occupancy terms should be checked carefully before pursuing that path.

There are trade-offs. The property has no garage, only off-street parking, and no air conditioning, which is common in this coastal zone but might surprise buyers from inland areas. Showings also require advance notice due to a current tenant who works from home, and possession is subject to tenant terms, which could delay immediate occupancy.

Still, if you’ve been priced out of the single-family home market in Cayucos, this condo might be the best path forward. It offers location, updated condition, and the beach lifestyle without the million-dollar price tag.

Interested in learning more about the only Cayucos home on the market under $1 million? Let’s connect and see if it’s the right fit for your goals.

What You Get for $789,000

• 810 sq ft, 2 bed / 1 bath condo
• Upper front unit with peek-a-boo ocean views
• Off-street parking, no garage
• Updated with new roof, siding, windows, and luxury vinyl floors
• Located in Cypress Cove, a 30-unit community

At nearly $974 per square foot, this isn’t a bargain play—it’s about owning location, walkability, and coastal lifestyle.

Who’s This Right For?

This property is a strong fit for buyers looking for a lock-and-leave lifestyle, whether as:

• A weekend getaway.
• A second home near the sand.
• A downsized option for retirees who prioritize location over size.
• An entry point investor—though buyers will need to check on short-term rental restrictions, as tenant occupancy and HOA rules may limit that path.

What Makes It Stand Out in the Market?

• It’s the only listing under $1 million in Cayucos right now.
• On the ocean side of Highway 1, so you’re steps from the beach, pier, and downtown restaurants.
• No one above you—giving a quieter, more private experience than most condos.
• Low monthly HOA of $300, helping keep ongoing costs predictable.

What Buyers Should Watch Out For

• Showing limitations—property is tenant-occupied with restricted showing windows, mainly evenings and weekends.
• Possession terms depend on the current tenant, which could delay personal use.
• No garage or extra storage, which may be a deal-breaker for some.
• No air conditioning, which is common for coastal properties but may feel like a missing amenity to buyers from warmer inland areas.

Final Thought

If you’ve been priced out of Cayucos' single-family market, this condo offers one of the few open doors still available under $1 million. It’s a play for buyers who value proximity to the sand, low-maintenance living, and a chance to own in a tightly held community.