260 Pacific, Morro Bay, California 93442, Morro Bay, 93442 - 0 bed, 0 bath
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Morro Bay, California 93442
This vintage duplex represents a High-Potential Investment Opportunity, listed at a List Price of $1,030,000—positioned above the $976,682 Fair Market Value. While the property requires a full interior rehab given its Condition Rating of 5, the Significant Development Upside—including approved plans for a third unit and potential for ADU/Jr. ADU additions—provides a clear path to forced appreciation. Located in the Downtown Core, this asset is ideal for Buy-and-Hold Investors or Developers seeking to maximize density and short-term rental income in a high-demand coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 260 Pacific Subject | $1,030,000* List Price | 0 | 0 | 1,500 | $651 | - |
A 435 Dunes Active | $1,050,000 List Price | 4 | 3 | 1,848 | $568 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1935, this vintage duplex features a highly dated kitchen with original-style cabinetry and lacks modern updates. While the roof was recently replaced, the interior requires a full rehab to meet modern standards, and the listing emphasizes development potential and land value upside.
The property features approved plans for a third unit and potential for both an ADU and a Junior ADU, offering a rare opportunity to substantially increase density and rental income.
Situated in the heart of Morro Bay's downtown core near the Embarcadero, the property is ideally positioned for high tenant demand and premium rental rates.
Qualifying for a short-term vacation rental license provides the owner with versatile exit strategies and the potential for higher-yield hospitality income.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1500, other record living area = 288.
Built in 1935, the property's age may lead to higher maintenance costs and the need for modernization of older electrical or plumbing systems despite recent roof updates.
At a list price of over $1 million for a 1,500-square-foot duplex, the initial price point represents a significant capital investment relative to the current existing unit count.
Opportunity knocks with this possible development property in the downtown core of morro Bay. This vintage duplex has approved plans for a 3rd unit, plus the property may have an additional ADU and a Jr. ADU on the property. The current unit mix consists of a 2/1 and a 1/1 free standing units with each hanvig individual yards and there is a rear two car garage. The roof and rain gutters were recently replaced and the units bring great rents, being so close to the Embarcadero. This property has fantastic upside potential. This property also qualifies for a short term vacation rental license. Whether you are wanting an investment property or a vacation hideaway spot for the family this fits the bill.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 1.0 | 50% |
| Baths | 0.0 | 1.0 | 50% |
| Square foot | 1,500 | 2,371 | 50% |
| Lot Size | 5,808 | 14,720 | 50% |
| Price | $1.03M | $1.39M | 50% |
| Price per sq ft | $687 | $613 | 50% |
| Built year | 1935 | 1930 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 30 | 231 | 25% |
May 15, 2026
$1,030,000
Initial Listing
Jun 9, 2016
$575,000
Public Record