Welcome to 1766 Fearn Avenue, ideally located in the highly sought-after Cuesta by the Sea neighborhood of Los Osos. This coastal home offers a flexible floor plan with possibilities for multi-generational living, extended family, guests, or potential income opportunities. The lower level features two bedrooms, its own kitchen and living area, along with a beautifully remodeled bathroom with a walk-in shower. Upstairs offers an additional kitchen, primary bedroom, family room, and living room with fireplace, creating versatile living options throughout the home. Situated on Lots 14 & 15, totaling approximately 8,000± sq. ft., this rare double-lot property offers gated RV and boat parking along with potential future possibilities for an ADU, lot split, or additional development potential (buyer to verify with San Luis Obispo County). The expansive back deck offers views of iconic Morro Rock and creates a wonderful space to gather, relax, and enjoy the coastal setting, while the upstairs living room also enjoys peek bay views. Ideally situated near the charming Baywood waterfront, local coffee shops, restaurants, local schools and everyday conveniences, this property offers exceptional access to the Central Coast lifestyle. Enjoy nearby coastal trails, the Elfin Forest, and the breathtaking beaches and hiking trails of Montaña de Oro State Park just minutes away. With its adaptable floor plan, rare lot configuration, gated parking, and prime coastal location, this property presents an incredible opportunity for a buyer to bring their vision and make it their own.