
Morro Bay, California 93442
This property presents a High-Potential Investment Opportunity with a List Price of $739,000—positioned well above the $680,449 Fair Market Value by -8%. Featuring a Condition Rating of 5, the home requires significant cosmetic renovation, though its rare street-to-street lot and peekaboo ocean views provide a solid foundation for value-add projects. Located in the San Luis Coastal Unified district near top-rated schools, this asset is ideal for Fix-and-Flip Investors or Contractors seeking to modernize a well-located, functional floor plan.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2710 Elm Avenue Subject | $739,000* List Price | 2 | 1 | 854 | $797 | - |
A 2270 Ironwood Avenue Sold | $767,000 | 2 | 1 | 764 | $1,004 | 0.4 mi |
B 2931 Hemlock Avenue Sold | $710,000 | 2 | 1 | 930 | $763 | 0.3 mi |
C 431 Nevis Street Sold | $680,000 | 2 | 1 | 952 | $714 | 0.8 mi |
D 520 Bonita Active Under Contract | $879,000 List Price | 2 | 2 | 884 | $994 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1970, this 54-year-old property exceeds the 30-year threshold for a major rehab. While the living room features newer laminate flooring, the bathroom remains highly dated with original yellowed fixtures and aged cabinetry. The listing description confirms the need for significant cosmetic updating and remodeling inside and out, indicating that major systems and surfaces are at the end of their functional lifespan.
The rare street-to-street lot configuration with access from both Elm Avenue and Fir Street provides exceptional accessibility, additional guest parking, and versatile potential for reimagining the outdoor spaces.
Situated in a desirable Morro Bay neighborhood, the property is within walking distance to local grocery stores and highly-rated schools, including Del Mar Elementary and Morro Bay High School.
With 'good underlying bones,' a functional layout, and peekaboo ocean views, this property offers a significant opportunity for buyers to build equity through cosmetic renovations and modern updates.
The home requires comprehensive cosmetic updating and remodeling both inside and out, which will necessitate an immediate additional capital investment from the buyer.
At only 854 square feet with a single bathroom, the property's small footprint may limit its appeal to larger families or those seeking more spacious, modern living areas.
Located in a desirable Morro Bay neighborhood, this property offers a functional floor plan, two-car garage, and a rare street-to-street lot with access from both Elm Ave and Fir St. The layout provides ample room in both the front and rear yards along with plentiful nearby parking options for guests or extended households. Mature landscaping creates a private setting today, while also offering the opportunity to reimagine the outdoor spaces into more open-use yards if desired. The home has good underlying bones and a practical layout, but most buyers will likely see opportunity for cosmetic updating and remodeling inside and out. Peekaboo ocean views and close proximity to the local grocery store adds to the property’s long-term appeal.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 4.9 mi
Grades 9-12 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 38% |
| Baths | 1.0 | 2.0 | 22% |
| Square foot | 854 | 1,505 | 13% |
| Lot Size | 4,000 | 4,000 | 50% |
| Price | $739.0K | $940.0K | 18% |
| Price per sq ft | $865 | $675 | 80% |
| Built year | 1970 | 1974 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 31 | 188 | 7% |
May 14, 2026
$739,000
Initial Listing
Jun 9, 2014
$333,000
Public Record