
Morro Bay, California 93442
This property represents a High-Potential Investment Opportunity, listed at $625,000—positioned slightly above the $607,963 Fair Market Value. While the current Condition Rating of 5 necessitates a total renovation, the asset offers significant upside through its coastal location and development potential. Featuring Ocean Views and a 2,200 square foot lot, this site is primed for a custom rebuild or modernization. Located within the San Luis Coastal Unified district, this is a strategic acquisition for Buy-and-Hold Investors or Contractors seeking a value-add coastal project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 479 Orcas Subject | $599,000* List Price | 0 | 1 | 550 | $1,089 | - |
A 408 Sicily Sold | $489,000 | 1 | 1 | 442 | $1,106 | 0.1 mi |
B 460 Jamaica Active | $764,000 List Price | 2 | 1 | 748 | $1,021 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property is 60 years old (built 1964) with no significant renovations mentioned or visible. The kitchen and bathroom are original and highly dated, featuring aged cabinetry, fixtures, and a wall heater. The listing's emphasis on 'future development potential' and 'land value' confirms the structure requires a total rehab or replacement.
The property features desirable ocean and hill views from the south-facing windows and front yard, providing a quintessential coastal atmosphere.
With its original 1964 construction on a residential lot, the property offers a unique opportunity for a custom rebuild or significant modernization in a sought-after North Morro Bay location.
Offered for the first time in over 60 years, this long-held family property presents a rare chance to acquire a coastal asset with significant character and investment upside.
At just 550 square feet with a partitioned sleeping area rather than a formal bedroom, the home's compact size may not meet the needs of many modern buyers.
The 2,200 square foot lot is relatively small, which may limit expansion possibilities and outdoor utility compared to larger parcels in the area.
Offered for the first time since it was built in 1964, this Morro Bay property has been owned by the same family for more than six decades. Originally constructed by the seller's father, the home reflects a simpler era of coastal living. Situated on a 2,200 square foot lot, the approximately 550 square foot residence is compact yet functional, featuring an open living area, kitchen, full bathroom, and a separated sleeping space. The current bedroom area is divided by a partition wall, offering privacy while maintaining an open feel, with potential for a more traditional bedroom configuration if desired. Ocean views can be enjoyed from the south-facing windows and front yard, creating a relaxing coastal atmosphere just minutes from everything Morro Bay has to offer. Two storage sheds in the backyard provide additional space for tools, hobbies, or recreational equipment. Whether you're looking for a cozy coastal retreat, a weekend getaway, an investment opportunity, or a property with future development potential, this offering deserves a closer look. Buyers are encouraged to investigate building and development possibilities directly with the City of Morro Bay and to verify all property information, including square footage, lot size, zoning, permitted uses, development potential, and condition of improvements to their satisfaction. Properties with this kind of character, ocean views, and future potential rarely come available. Bring your vision and imagine the possibilities.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 5.8 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.5 |
| Baths | 1.0 | 2.0 |
| Square foot | 550 | 1,700 |
| Lot Size | 2,200 | 4,000 |
| Price | $599.0K | $1.01M |
| Price per sq ft | $1.1K | $655 |
| Built year | 1964 | 1978 |
| HOA | $0 | $0 |
| Days on market | 43 | 78 |
Jun 28, 2026
$599,000
$625,000
-4% Price Drop
Initial Listing
Jun 9, 2026
$625,000
Initial Listing