2740 Ironwood, Morro Bay, California 93442, Morro Bay, 93442 - 4 bed, 3 bath
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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 | $507 | - |
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 2559 Greenwood Sold | $989,000 | 3 | 3 | 2,384 | $415 | 0.2 mi |
D 2675 Juniper Avenue Sold | $1,072,850 | 3 | 3 | 2,000 | $536 | 0.1 mi |
E 2556 Nutmeg Avenue Sold | $1,100,000 | 3 | 3 | 2,217 | $496 | 0.2 mi |
F 489 Sunset Court Sold | $1,175,000 | 2 | 2 | 1,986 | $592 | 0.7 mi |
G 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.
Well maintained level home with views.It has a Guest suite with kichenette, bed room, bath, living area with deck and separate entry Back Yard has a covered area for BBQ Ocean Views and a peek of "The Rock"
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 | 2.5 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,816 | 1,700 |
| Lot Size | 5,760 | 4,000 |
| Price | $1.40M | $1.01M |
| Price per sq ft | $496 | $655 |
| Built year | 1971 | 1978 |
| HOA | $0 | $0 |
| Days on market | 8 | 78 |
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