375 Surf, Morro Bay, California 93442, Morro Bay, 93442 - 0 bed, 0 bath
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Morro Bay, California 93442
This Prime Investment Opportunity is a Quadruplex listed at $1,500,000, positioned well below the $1,538,095 Fair Market Value by 2%. This valuation gap offers $38,095 in Instant Equity. Featuring a Fair Condition Rating, the property provides significant upside through cosmetic updates. With seven total garages and scenic ocean views, this asset offers strong rental demand. It is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a stable, income-generating coastal asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 375 Surf Subject | $1,300,000* List Price | 0 | 0 | 2,448 | $522 | - |
A 1187 Main Active | $1,649,000 List Price | 0 | 0 | 2,975 | $554 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1972, this 52-year-old property is well-maintained but remains largely dated. The kitchen features older painted cabinetry and basic countertops, though appliances have been updated to mid-range black/stainless models. Exterior wood railings and decking show visible weathering and peeling paint, indicating a need for minor repairs. While the electrical meters have been modernized and the grounds are tidy, the interior finishes and overall age align with the 'Fair' category requiring cosmetic updates.
In addition to the four residential units, the property includes three extra garages currently generating supplemental rental income, significantly enhancing the overall return on investment.
The upstairs units feature large balconies offering scenic views of the Pacific Ocean, local hills, and Morro Bay’s iconic smokestacks, providing high tenant appeal and premium rental potential.
With a total of seven garages for just four units, the property offers a rare abundance of covered parking and storage, a highly coveted asset in a dense beach community.
The uniform 1-bedroom, 1-bathroom configuration may limit the tenant pool to individuals or couples, potentially leading to higher turnover compared to multi-bedroom units.
Originally constructed in 1972, the property may require future capital improvements or modernization of major systems to maintain its competitive market position.
Located in the heart of Morro Bay, this well-maintained 4-unit apartment property offers an exceptional investment opportunity with all four units featuring 1 bedroom, 1 bathroom, and their own private garage. In addition to the four tenant garages, the property includes three extra garages currently generating additional rental income. There is an inviting shared patio sitting area and a finished paver seating area. The two upstairs units feature a large balcony with scenic views of the surrounding hills, the ocean beyond, and Morro Bay’s iconic three smokestacks. Additional amenities include a shared on-site laundry room, making this a highly desirable property for both tenants and investors seeking strong rental appeal in one of the Central Coast’s most sought-after beach communities.
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 | 2,448 | 2,845 | 50% |
| Lot Size | 7,500 | 15,566 | 50% |
| Price | $1.30M | $1.52M | 50% |
| Price per sq ft | $531 | $535 | 50% |
| Built year | 1972 | 1930 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 38 | 230 | 25% |
May 27, 2026
$1,300,000
$1,425,000
-9% Price Drop
Initial Listing
May 17, 2026
$1,425,000
$1,500,000
-5% Price Drop
Initial Listing
May 6, 2026
$1,500,000
Initial Listing