
Morro Bay, California 93442
This Strong Value Opportunity is a Residential Income Asset listed at $1,050,000—positioned well below the $1,115,688 Fair Market Value by 5%. This valuation gap provides $65,688 in Instant Equity. Featuring unobstructed ocean views, a private elevator, and a detached ADU, the property holds a Fair Condition Rating due to necessary ADU renovations. This versatile, high-density lot is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking multi-generational living with significant upside potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 435 Dunes Subject | $1,050,000* List Price | 4 | 3 | 1,848 | $604 | - |
A 260 Pacific Active | $1,030,000 List Price | 0 | 0 | 1,500 | $687 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1991, the property is over 30 years old and largely retains its original features. While the main house appears functional but dated, the secondary unit (ADU) kitchen shows significant deterioration, including peeling cabinetry and worn surfaces, requiring a full rehab as noted in the 'blank canvas' description.
The property offers rare, unobstructed views of Morro Rock, the stacks, and the Pacific Ocean, providing a premium aesthetic that significantly enhances market desirability.
Situated on a large 8,700 sq ft high-density lot with a detached ADU, this property provides exceptional versatility for rental income, guest quarters, or multi-generational living.
The main residence features a private elevator and an ADA-compliant primary ensuite, making it a highly attractive option for buyers prioritizing long-term accessibility and ease of movement.
The detached unit is described as a 'blank canvas,' implying that the buyer will need to invest additional capital and time to complete the space before it is functional or rent-ready.
Built in 1991, the home may require cosmetic updates or system upgrades to meet the contemporary standards expected at this price point in the Morro Bay market.
Perched in the heart of Morro Bay, this exceptional coastal property delivers breathtaking, unobstructed views of the iconic Morro Rock, the stacks, and the sparkling Pacific Ocean — all from an expansive 8,700 sq ft lot zoned high density. The main residence is a 3-bedroom, 2-bathroom home designed for comfort and accessibility, featuring high ceilings, an ADA-compliant primary ensuite, and a private elevator. Entertain in style on the large deck, where a sunroom and spa await alongside some of the most stunning views the Central Coast has to offer — the perfect setting for morning coffee or sunset gatherings. A 2-car garage and a generous attached carport ensure ample parking and storage for residents and guests alike. Adding exceptional versatility and investment appeal, the property includes a detached 1-bedroom, 1-bathroom additional dwelling unit situated above its own garage. Full of potential, this unit is a blank canvas ready for your vision — whether as a rental income source, guest quarters, or creative retreat. An attached workshop rounds out the back of the property, ideal for hobbyists, craftspeople, or additional storage. Whether you're seeking a primary coastal residence with room for family, a savvy investment opportunity, or the flexibility of multi-generational living, 435 Dunes checks every box. Don't miss this rare Morro Bay gem — properties like this don't last.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 50% |
| Baths | 3.0 | 2.5 | 50% |
| Square foot | 1,848 | 2,545 | 50% |
| Lot Size | 8,712 | 16,172 | 50% |
| Price | $1.05M | $1.40M | 50% |
| Price per sq ft | $568 | $554 | 50% |
| Built year | 1991 | 1930 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 223 | 25% |
May 15, 2026
$1,050,000
Initial Listing
Dec 24, 1996
$155,000
Public Record
Sep 12, 1994
$77,000
Public Record