
Morro Bay, California 93442
This property presents a High-Potential Investment Opportunity with a List Price of $1,450,000—positioned above the $1,309,485 Fair Market Value by 10%. While the price reflects a premium, the home offers significant value-add potential through modernization. Featuring a Condition Rating of 4, the residence requires cosmetic updates to reach its full potential. With striking ocean views, a private balcony, and a desirable Morro Heights location, this is a unique value-add asset ideal for Buy-and-Hold Investors or Owner-Occupants seeking a coastal renovation project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 409 Tulare Avenue Subject 3 bd · 2 ba · 2,132 sqft · $594 | $1,392,000* List Price | 3 | 2 | 2,132 | $594 | - |
A 594 Kings Sold 3 bd · 3 ba · 2,059 sqft · $534 · 0.3 mi | $1,100,000 | 3 | 3 | 2,059 | $534 | 0.3 mi |
B 331 Fresno Sold 4 bd · 4 ba · 2,880 sqft · $538 · 0.2 mi | $1,550,000 | 4 | 4 | 2,880 | $538 | 0.2 mi |
C 436 Morro Sold 3 bd · 3 ba · 2,875 sqft · $626 · 0.7 mi | $1,800,000 | 3 | 3 | 2,875 | $626 | 0.7 mi |
D 740 Alta Court Active Under Contract 3 bd · 2 ba · 2,370 sqft · $696 · 0.3 mi | $1,650,000 List Price | 3 | 2 | 2,370 | $696 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Originally built in 1952, the home features a kitchen and bathroom renovation that appears to be 20 to 30 years old. The kitchen shows dated oak cabinetry and tile countertops, while the bathroom features 1990s-era green tile and brass fixtures. While the home is clean, functional, and liveable, it is highly dated and requires cosmetic updates throughout.
The property offers exceptional views of Morro Rock and the Pacific Ocean, highlighted by large picture windows in the primary suite and a private viewing balcony.
Situated in the prestigious Morro Heights neighborhood, the home provides a highly sought-after coastal setting known for its established character and quiet atmosphere.
Featuring wood-beamed ceilings, stained glass windows, and original wood flooring, the residence provides a distinct personality and charm that sets it apart from standard modern builds.
Built in 1952, the home retains much of its original era's styling, suggesting a need for capital investment to update the kitchen and bathrooms to modern luxury standards.
The property features only a single-car garage, which may be a significant drawback for multi-vehicle households or those requiring extensive enclosed storage.
With beautiful ocean views and a location in Morro Bay’s desirable Morro Heights neighborhood, this 3-bedroom, 2-bath home offers a wonderful combination of character, space, and potential. Originally built in 1952, the home retains the warmth and personality of its era while offering an opportunity to update and create a home that reflects your own style. The main level centers around a generous living room, kitchen, and dining area, with large windows bringing in natural light and coastal views. Tile flooring runs throughout the main living spaces, while the kitchen opens naturally to the dining area, creating an inviting setting for everyday living and gatherings. Just beyond the dining area, an outdoor deck with a windbreak provides a peaceful place to enjoy the ocean outlook. Upstairs, three well-appointed bedrooms feature wood flooring and wood-beamed ceilings, each with its own character. The primary bedroom is filled with abundant natural light through full picture windows, offering striking views of Morro Bay and Morro Rock, along with a walk-in closet. Another bedroom features a stained glass window and opens to a private balcony with ocean views, while the third offers additional stained glass windows and abundant storage. A full bathroom and dedicated office complete the upper level. Outside, a landscaped backyard and paved patio create additional space for gardening, gathering, or simply enjoying the coastal setting. A single-car garage, additional parking space, and basement storage add practical value. With its ocean views, established Morro Heights setting, character-filled spaces, and room to make thoughtful improvements, this is an opportunity to create something special in one of Morro Bay’s most sought-after neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.9 |
| Baths | 2.0 | 2.4 |
| Square foot | 2,132 | 1,617.875 |
| Lot Size | 5,000 | 3,978.5 |
| Price | $1.39M | $1.02M |
| Price per sq ft | $653 | $625 |
| Built year | 1952 | 1979 |
| HOA | $0 | $135 |
| Days on market | 50 | 62 |
Oct 23, 2026
$1,392,000
$1,450,000
-4% Price Drop
Initial Listing
Sep 4, 2026
$1,450,000
Initial Listing
Feb 14, 2006
$835,000
Public Record
Nov 4, 2003
$610,000
Public Record
Oct 17, 2000
$457,000
Public Record