
Morro Bay, California 93442
This Versatile Residential Property represents a Prime Investment Opportunity, listed at $1,398,000—positioned well below the $1,428,532 Fair Market Value by 2%. This valuation gap provides $30,532 in Instant Equity. Featuring a Guest Suite with Separate Entry and Panoramic Ocean Views, the home offers significant rental income potential. With a Condition Rating of 3, the property is move-in ready while offering room for modernization. Located in the San Luis Coastal Unified district, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a multi-generational living solution.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2740 Ironwood Subject | $1,398,000* List Price | 4 | 3 | 2,816 | $499 | - |
A 2845 Ironwood Avenue Sold | $1,462,450 | 4 | 3 | 2,346 | $623 | 0.1 mi |
B 2621 Maple Avenue Sold | $1,370,000 | 3 | 3 | 2,508 | $546 | 0.1 mi |
C 489 Sunset Court Sold | $1,175,000 | 2 | 2 | 1,986 | $592 | 0.7 mi |
D 2560 Juniper Active Under Contract | $1,599,000 List Price | 4 | 3 | 2,648 | $604 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1971, the property has undergone significant renovations approximately 15-20 years ago. The kitchen and bathrooms feature high-quality materials like granite countertops, travertine flooring, and custom cabinetry that remain in well-maintained, move-in ready condition. Systems appear updated, including a modern water heater and vinyl windows, though the aesthetic is slightly dated by current trends.
The property features a versatile guest suite complete with a kitchenette, living area, and private deck, offering excellent potential for multi-generational living or rental income.
Residents can enjoy desirable ocean views and a peek of the iconic Morro Rock, significantly enhancing the home's aesthetic appeal and long-term market value.
With 2,816 square feet of living space, this home is substantially larger than many properties in the area, providing ample room for families and entertaining.
Built in 1971, the home may require updates to its original systems, insulation, or cosmetic finishes to meet the standards of modern luxury buyers.
The 5,760 square foot lot is relatively small for a home of this size, resulting in a high building-to-lot ratio and limited yard space for gardening or recreation.
Ocean views and flexible living space on Ironwood. This 4-bedroom, 3-bath home spans 2,816 square feet across two levels. The interior features granite countertops, cherry cabinets, and travertine tile flooring, with the open kitchen flowing into the living area — all framed by ocean views towards Morro Rock. A separate front entrance and stairway lead to a private suite over the garage with its own kitchenette, bedroom, bathroom, and living area, this connects to the rest of the house through a single upstairs door, which can easily be closed to create a private space ideal for guests or a rental income opportunity. . The large primary bedroom includes an en-suite bath. Outside, landscaped front yard and in the backyard a covered area built for outdoor entertaining. A 2-car attached garage completes the package on a 5,760 square foot lot. Information deemed reliable but not guaranteed.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades 6-8 • 4.9 mi
Grades 9-12 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 2.9 |
| Baths | 3.0 | 2.3 |
| Square foot | 2,816 | 1,586 |
| Lot Size | 5,760 | 4,168.955 |
| Price | $1.40M | $1.03M |
| Price per sq ft | $496 | $618 |
| Built year | 1971 | 1983 |
| HOA | $0 | $135 |
| Days on market | 57 | 57 |
Jul 14, 2026
$1,398,000
Initial Listing
Jul 2, 2010
$650,000
Public Record
Jan 31, 2007
$1,015,000
Public Record
Mar 17, 2006
$111,000
Public Record
May 6, 2005
$543,000
Public Record