1187 Main, Morro Bay, California 93442, Morro Bay, 93442 - 4 bed, 4 bath
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1187 Main
Morro Bay, California 93442
ACTIVE
CONDITION: GOOD
4Beds
4Baths
2,975Sq Ft
6,970Lot Size
Property Price
LIST PRICE$1,649,000
EST. MARKET VALUE
$1,649,000
SUMMARY
This Mixed-Use Triplex represents a Strong Value Opportunity, listed at a List Price of $1,649,000, which aligns with its $1,649,000 Fair Market Value. Featuring a Good Condition Rating and a 2006 build date, the property offers a stable, income-generating asset with Panoramic Ocean and Morro Rock Views. The versatile layout includes a 3-bedroom residence, a 1-bedroom unit, and a secure commercial office, supported by Two 2-Car Garages. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal property with diversified revenue streams.
Estimated Market Value
$1,649,000
Based on Realkey algorithm analyzing recent comparable sales in Morro Bay.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1187 Main Subject | $1,649,000* List Price | 4 | 4 | 2,975 | $554 | - |
A 1187 Main Active | $1,649,000 List Price | 0 | 0 | 2,975 | $554 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 2006, the property falls exactly within the 10-20 year age bracket for 'Good' condition. The interiors, including the kitchen and office spaces, appear well-maintained, functional, and move-in ready with standard white appliances and clean finishes. The exterior stucco and tile roof show no signs of deferred maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- Versatile Income Potential
This mixed-use triplex offers diversified revenue streams through a spacious 3-bedroom residence, a 1-bedroom unit, and a secure commercial office space with a long-term tenant.
- Prime Coastal Location
Ideally situated within walking distance to the Morro Bay Embarcadero and downtown shops, the property boasts stunning ocean and Morro Rock views from the primary living areas and private balcony.
- Superior Parking Amenities
The inclusion of two 2-car garages provides rare and highly valuable dedicated parking and storage for a coastal property, significantly enhancing its appeal for both tenants and owners.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2975, other record living area = 2524.
- Extended Market Duration
With 136 days on the market and a recent price reduction, the property may be facing liquidity challenges or pricing resistance in the current market environment.
- Operational Complexity
The mixed-use nature of the property requires managing both residential and commercial tenancies, which can involve more complex financing requirements and diverse management responsibilities.
About 1187 Main
Perfect location, live at the beach with rental property attached Exceptional mixed-use property in one of the most desirable locations in Morro Bay. Ideally situated within walking distance to both the vibrant Morro Bay Embarcadero and charming downtown shops and restaurants, this property offers strong income potential paired with incredible ocean views. The property features three separate units: Upstairs residential unit: Spacious 3-bedroom, 2-bathroom residence featuring a private balcony with stunning ocean and rock views. The living room and kitchen both capture the coastal scenery creating a bright and inviting living space. Commercial office space: Located downstairs, this securely rented office unit has been occupied by a long-term tenant, providing reliable income. Additional Residential Unit: Comfortable 1-bedroom, 1 bath unit offering flexibility for rental income, guest use or extended living. The property also included two 2-car garages, providing dedicated parking and storage for the residential units, an excellent amenity in this sought -after coastal area. Don't miss this rare opportunity to own this versatile income property in the heart of Morro Bay.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 2006
- Lot Size
- 6,970 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,975 | 1,674 |
| Lot Size | 6,970 | 7,260 |
| Price | $1.65M | $1.23M |
| Price per sq ft | $554 | $769 |
| Built year | 2006 | 1963 |
| HOA | $0 | $0 |
| Days on market | 173 | 123 |
Pricing History
Listed for Sale
May 27, 2026
$1,649,000
$1,669,000
-1% Price Drop
Initial Listing
Price Change
Mar 20, 2026
$1,669,000
Initial Listing
Sold
Nov 15, 2018
$1,150,000
Public Record
Sold
Aug 12, 2005
$970,000
Public Record