2796 Crockett Circle
About This Property
This exceptionally rare, parcel presents a coveted opportunity to design and construct a custom residence in a community where available land is increasingly scarce. Elevated above the shoreline, the property captures sweeping panoramic views spanning more than 180 degrees - from Morro Bay and the Pacific horizon to the rolling peaks of the Santa Lucia Mountains. The result is an ever-changing canvas of golden sunrises, coastal light, and unforgettable sunsets.
The gently sloping topography offers both architectural flexibility and natural seclusion, allowing for a thoughtfully designed coastal retreat that balances sophistication with tranquility. Whether you envision expansive view decks, walls of glass, or a private outdoor sanctuary, this homesite provides the foundation for something truly extraordinary.
Beyond the property, Cabrillo Estates is celebrated for its peaceful atmosphere and proximity to the very best of the Central Coast - pristine beaches, Montana De Oro, kayaking on the bay, scenic hiking and biking trails, and the charm of nearby San Luis Obispo.
This is more than vacant land - it is an invitation to create a legacy property in a setting defined by privacy, prestige, and panoramic beauty.
Buyers are encouraged to consult with the San Luis Obispo County Department of Planning and Building regarding building requirements and plans. A valid Will Serve Letter from Golden State Water Company and at least 300 Title 19 retrofit credits are included with this purchase.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 19, 2026 | Listed by Comet Realty | $450,000 | |
| Listed by Comet Realty | |||
| Jul 23, 2025 | Price Decreased |
$450,000
↓ $50K
(10%) | |
| Price Decreased | |||
| Oct 9, 2024 | Relisted | $500,000 | |
| Relisted | |||
| Oct 6, 2024 | No longer available | - | |
| No longer available | |||
| Oct 5, 2024 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017