
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 | $895,000* List Price | 3 | 2 | 1,566 | $572 | - |
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 410 Island Street Sold | $950,000 | 3 | 3 | 1,825 | $521 | 0.8 mi |
F 2670 Koa Avenue Active Under Contract | $975,000 List Price | 3 | 4 | 2,064 | $472 | 0.3 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.
Major Price Improvement. Now Offered at $895,000! An incredible opportunity to own in beautiful Morro Bay with breathtaking views of iconic Morro Rock and the Pacific Ocean. This 3 bedroom, 2 bathroom coastal home offers 1,566 square feet of living space on a 4,626 square foot lot and is ready for its next owner to bring their vision and make it their own. Enjoy morning coffee from the wrap around porch while taking in the coastal scenery or unwind in the evenings with sunset views overlooking the ocean. Located just minutes from the beach, restaurants and everything Morro Bay has to offer, this home provides the opportunity to enjoy the charm, beauty and relaxed lifestyle that make this coastal community so special. Inside, the home features a functional layout with natural light, inviting living spaces and plenty of potential for someone looking to update and personalize a property near the coast. Whether you are looking for a full-time residence, weekend beach getaway or coastal retreat, this property offers an incredible setting near the ocean. The backyard provides plenty of space for entertaining, relaxing or enjoying the fresh coastal air. A rare added bonus is the side yard parking area with room for an RV or boat and full hookups including water, electric and sewer. Bring the boat, RV or beach toys and enjoy the convenience of having everything ready at home. With panoramic views of Morro Rock and the Pacific Ocean, a wrap around porch, spacious backyard and valuable RV or boat parking, this home represents an exceptional opportunity at its new $895,000 price. If you have been waiting for the right opportunity in Morro Bay, this is one you will want to see.
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 | 2.9 |
| Baths | 2.0 | 2.3 |
| Square foot | 1,566 | 1,586 |
| Lot Size | 4,626 | 4,168.955 |
| Price | $895.0K | $1.03M |
| Price per sq ft | $572 | $618 |
| Built year | 1986 | 1983 |
| HOA | $0 | $135 |
| Days on market | 84 | 57 |
Aug 17, 2026
$895,000
$975,000
-8% Price Drop
Initial Listing
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