2760 Elm Avenue, Morro Bay, California 93442, Morro Bay, 93442 - 2 bed, 2 bath
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2760 Elm Avenue
Morro Bay, California 93442
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,400Sq Ft
4,000Lot Size
Property Price
LIST PRICE$835,000
EST. MARKET VALUE
$857,384
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $835,000—positioned well below the $857,384 Fair Market Value by 2%. This valuation gap offers $22,384 in Instant Equity. With a Condition Rating of 4, the home requires cosmetic updates but features a street-to-street lot, ocean views, and an unpermitted ADU for rental income. Located near top-rated schools like Del Mar Elementary, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add coastal residence.
Estimated Market Value
$857,384
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 |
|---|---|---|---|---|---|---|
★ 2760 Elm Avenue Subject 2 bd · 2 ba · 1,400 sqft · $612 | $835,000* List Price | 2 | 2 | 1,400 | $612 | - |
A 2990 Fir Sold 3 bd · 3 ba · 1,662 sqft · $575 · 0.3 mi | $955,000 | 3 | 3 | 1,662 | $575 | 0.3 mi |
B 2581 Juniper Sold 3 bd · 2 ba · 1,464 sqft · $591 · 0.2 mi | $865,000 | 3 | 2 | 1,464 | $591 | 0.2 mi |
C 2631 Hemlock Sold 3 bd · 3 ba · 1,332 sqft · $685 · 0.2 mi | $912,500 | 3 | 3 | 1,332 | $685 | 0.2 mi |
D 351 Nevis Street Sold 2 bd · 1 ba · 1,014 sqft · $700 · 0.8 mi | $709,850 | 2 | 1 | 1,014 | $700 | 0.8 mi |
E 491 Mindoro Sold 3 bd · 2 ba · 1,611 sqft · $587 · 0.7 mi | $945,000 | 3 | 2 | 1,611 | $587 | 0.7 mi |
F 390 Nassau Sold 3 bd · 2 ba · 1,505 sqft · $581 · 0.7 mi | $875,000 | 3 | 2 | 1,505 | $581 | 0.7 mi |
G 410 Island Street Sold 3 bd · 3 ba · 1,825 sqft · $521 · 0.5 mi | $950,000 | 3 | 3 | 1,825 | $521 | 0.5 mi |
H 470 Las Vegas Street Active 3 bd · 2 ba · 1,566 sqft · $572 · 0.3 mi | $895,000 List Price | 3 | 2 | 1,566 | $572 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1950, the home is functional and clean but highly dated. The kitchen features older tile countertops and aged appliances, while the bathrooms show older tile work and fixtures. The presence of a wall furnace indicates an outdated heating system without central HVAC. The property is liveable but requires cosmetic and system updates.
PROSSTRENGTHS & OPPORTUNITIES
- Income Potential
The property includes an attached studio and oversized guest quarters, offering significant potential for rental income or a flexible multi-generational living arrangement.
- Coastal Location and Views
Situated on a rare street-to-street lot just one mile from the beach, the home provides desirable views of Morro Rock and glimpses of the Pacific Ocean.
- Ample Parking and Storage
Featuring both a two-car garage and an additional carport, the property offers superior vehicle storage which is a premium commodity in coastal neighborhoods.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1400, other record living area = 1149.
- Unpermitted ADU
The attached studio is explicitly noted as not permitted, which may present challenges for traditional financing and could require future legal compliance costs.
- Vintage Infrastructure
Built in 1950, the home likely requires updates to its aging systems and structural components to meet modern standards and coastal weather durability.
About 2760 Elm Avenue
Discover the charm of coastal living in Morro Bay and start enjoying the coastal lifestyle in this wonderful family home or investment property with 2 large bedrooms, plus oversize guest quarters that is a rare find just a mile from the beach. Located in a quiet neighborhood it offers peaceful surroundings and an opportunity to enjoy the north Morro Bay lifestyle. This property also includes an attached studio, 1-bathroom ADU (not permitted) offering the opportunity of potential rental income. This home has an attached 2 car garage plus a carport and is on a street-to-street lot with a view of The Rock and a peak of the ocean. Whether you are looking for a full-time residence, weekend beach getaway or coastal retreat this property offers an incredible setting near the ocean.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1950
- Lot Size
- 4,000 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Morro Bay Unified Schools
Del Mar Elementary School
Grades K-5 • 0.3 mi
7/10
Los Osos Middle School
Grades 6-8 • 5.0 mi
7/10
Morro Bay High School
Grades 9-12 • 0.8 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.9 |
| Baths | 2.0 | 2.4 |
| Square foot | 1,400 | 1,617.875 |
| Lot Size | 4,000 | 3,978.5 |
| Price | $835.0K | $1.02M |
| Price per sq ft | $596 | $625 |
| Built year | 1950 | 1979 |
| HOA | $0 | $135 |
| Days on market | 41 | 62 |
Pricing History
Listed for Sale
Sep 13, 2026
$835,000
Initial Listing
Sold
Dec 17, 2004
$530,000
Public Record
Sold
May 28, 2004
$439,000
Public Record