490 Fresno, Morro Bay, California 93442, Morro Bay, 93442 - 3 bed, 1 bath
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Morro Bay, California 93442
This Charming Beach Cottage represents a Prime Investment Opportunity, listed at $995,000—positioned well below the $1,025,446 Fair Market Value by 2%. This valuation gap offers $30,446 in Instant Equity. Featuring a Fair Condition Rating, the home offers a Partial Coastal View and a Large Built-in Deck. While the layout reflects its 1952 origins, the walkability to the Embarcadero and golf course provides significant long-term appeal. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 490 Fresno Subject | $995,000* List Price | 3 | 1 | 1,200 | $855 | - |
A 943 Pecho Sold | $825,000 | 2 | 1 | 780 | $1,058 | 0.1 mi |
B 369 Dunbar Pending | $749,900 List Price | 2 | 2 | 1,128 | $665 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1952 and, while well-maintained and move-in ready, the kitchen and bathroom renovations appear to be 20-25 years old based on the oak cabinetry, laminate countertops, and white/black appliances. It meets the 'Fair' criteria as it is functional but dated and will eventually require modernization.
Situated in the highly desirable Morro Heights neighborhood, this property offers exceptional walkability to the Embarcadero, downtown shopping, and the renowned Morro Bay Golf Club.
The residence features sought-after partial views of the Pacific Ocean and Morro Rock from the living room, master bedroom, and front porch, enhancing its coastal appeal.
Maintained by the same family since 1960, the home is in move-in condition and includes existing furniture and outdoor equipment, providing an easy transition for new owners.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5464, other record lot size in square feet = 5837.
With three bedrooms but only one bathroom, the home's layout may be less convenient for larger families or hosting guests compared to more modern configurations.
The original single-car garage was converted into a third bedroom, which eliminates covered parking and traditional garage storage space.
This charming little beach cottage is located in one of Morro Bay's finest neighborhoods. It has been a family owned home since 1960. The home is in good condition. It has a raised foundation, laminate, carpet, and vinyl flooring throughout, lots of built in cabinets, and a well equiped kitchen featuring gas stove, microwave, dishwasher, and trash compactor. The laundry room comes equipped with washer and dryer. The single car garage was professionally converted to a 3rd bedroom years ago to accomodate a growing family. Want to see the ocean and Morro Rock? There is a partial coastal view from the living room, master bedroom and the front porch. Best of all... you will reside within walking distance to Morro Bay's world famous Embarcadero, downtown shopping, restaurants, movie theater, and just 5 blocks from Morro Bay Golf Club, which is one of the most iconic golf cources in California. The home is in move-in condition and includes existing furniture, and accessory equipment in the back yard storage sheds. There are two avocado trees in the back yard along with a large beautiful built in deck for lots of fun parties, bird watching or just to sit and enjoy a cup of coffee in the peaceful, serene surroundings breathing in the fresh ocean air.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 22% |
| Square foot | 1,200 | 1,505 | 31% |
| Lot Size | 5,464 | 4,000 | 73% |
| Price | $995.0K | $950.0K | 58% |
| Price per sq ft | $829 | $675 | 76% |
| Built year | 1952 | 1974 | 13% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 188 | 7% |
May 18, 2026
$995,000
Initial Listing