470 Las Vegas Street, Morro Bay, California 93442, Morro Bay, 93442 - 3 bed, 2 bath
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Morro Bay, California 93442
This Coastal Residential Property represents a High-Potential Investment Opportunity, listed at $1,025,000—positioned slightly above the $1,022,626 Fair Market Value. While priced at market, the home offers significant upside through modernization of its Fair Condition Rating (1986 build). Key features include Panoramic Ocean and Morro Rock Views, a Wrap-Around Porch, and RV/Boat Parking with Full Hookups. Located within a half-mile of Top-Rated Schools (7/10), this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal lifestyle project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 470 Las Vegas Street Subject | $975,000* List Price | 3 | 2 | 1,566 | $640 | - |
A 2581 Juniper Sold | $865,000 | 3 | 2 | 1,464 | $591 | 0.2 mi |
B 2990 Fir Sold | $955,000 | 3 | 3 | 1,662 | $575 | 0.5 mi |
C 2640 Maple Sold | $1,125,000 | 3 | 3 | 1,667 | $675 | 0.4 mi |
D 2631 Hemlock Sold | $912,500 | 3 | 3 | 1,332 | $685 | 0.2 mi |
E 2675 Juniper Avenue Sold | $1,072,850 | 3 | 3 | 2,000 | $536 | 0.2 mi |
F 165 Damar Sold | $1,228,000 | 3 | 2 | 1,560 | $787 | 0.7 mi |
G 2455 Ironwood Sold | $835,000 | 2 | 2 | 1,139 | $733 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1986 (38 years old), the property is well beyond the 20-year threshold for 'Fair' and approaching the 'Poor' age bracket. However, it appears functional and well-maintained rather than structurally deficient. The interior features dated carpeting and fixtures, and the description's mention of 'potential to make it your own' confirms that while livable, the kitchen, baths, and systems likely require modernization to meet current standards.
The property boasts breathtaking, panoramic views of the Pacific Ocean and the iconic Morro Rock, which can be enjoyed from the expansive wrap-around porch.
A rare and highly functional side yard features dedicated parking for an RV or boat, complete with full hookups including water, electricity, and sewer.
Ideally situated in North Morro Bay near the beach, the home is also conveniently located within a half-mile of highly-rated elementary and high schools.
Built in 1986 and noted as having 'potential to make it your own,' the home likely requires cosmetic or structural updates to meet modern luxury standards.
The 4,626 square foot lot is relatively modest, which may limit outdoor privacy and space for significant landscaping or expansion.
Welcome to 470 Las Vegas Street in beautiful Morro Bay, CA. This 3 bedroom, 2 bathroom coastal home offers 1,566 square feet of comfortable living space on a 4,626 square foot lot with breathtaking views of iconic Morro Rock and the Pacific Ocean. From morning coffee on the wrap around porch to sunset evenings overlooking the coast, the views create an unforgettable backdrop for everyday living. Located just minutes from the beach, this home gives you the opportunity to enjoy the charm, beauty and relaxed lifestyle that make Morro Bay one of California's most desirable coastal communities. Inside, the home offers a functional layout with inviting living spaces, natural light and plenty of potential to make it your own. Whether you are looking for a full-time residence, weekend beach getaway or coastal retreat, this property offers the ideal setting near the ocean. The backyard provides great space for entertaining, relaxing or enjoying the fresh coastal air. A rare bonus is the side yard parking area with room for an RV or boat, complete with full hookups including water, electric and sewer. Bring your beach toys, boat or RV and enjoy the convenience of having everything ready at home. With panoramic views, close proximity to the ocean, a spacious backyard, valuable RV or boat parking and a wrap around porch designed to enjoy the coastal scenery, this Morro Bay home is a special opportunity to embrace coastal living near one of California's most iconic landmarks.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 4.7 mi
Grades 9-12 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.5 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,566 | 1,700 |
| Lot Size | 4,626 | 4,000 |
| Price | $975.0K | $1.01M |
| Price per sq ft | $623 | $655 |
| Built year | 1986 | 1978 |
| HOA | $0 | $0 |
| Days on market | 35 | 78 |
Jul 21, 2026
$975,000
$999,999
-2% Price Drop
Initial Listing
Jul 15, 2026
$999,999
$1,025,000
-2% Price Drop
Initial Listing
Jun 17, 2026
$1,025,000
Initial Listing
Jul 31, 2018
$608,500
Public Record