Opportunity knocks with this possible development property in the downtown core of morro Bay. This vintage duplex has approved plans for a 3rd unit, plus the property may have an additional ADU and a Jr. ADU on the property. The current unit mix consists of a 2/1 and a 1/1 free standing units with each having individual yards and a rear two car garage. The roof and rain gutters were recently replaced and the units bring great rents, being so close to the Embarcadero. This property has fantastic upside potential. This property also qualifies for a short term vacation rental license.
A Legacy Central California Coastal Property. Rare opportunity for investors, developers, or boutique builders to secure over half an acre (.54 acres / 23,632 sq. ft.) in the heart of Morro Bay with prime build-out potential. Potential for two separate lots, next to a City Park plus the option of acquiring an adjacent abandoned city street, create room for an expanded development footprint. The 1930s residence offers 3,242 sq. ft. across two units, each with separate electric and gas meters. The main home includes 2 bedrooms and 2 baths with sweeping views of the bay and Morro Rock, while the secondary unit enjoys south-facing vistas across the park and waterfront. Known locally as The Red House, the property is crowned by the storied crow’s nest, one of Morro Bay’s most recognizable architectural features. Whether redeveloped or preserved as a private estate, this is a once-in-a-lifetime opportunity blending history, views, and exceptional potential on California’s Central Coast.
Prime Business Opportunity in Downtown Morro Bay. Discover exceptional potential at 600 Morro Bay Blvd B, a high visibility corner location in the heart of downtown Morro Bay. This prominent site offers excellent street presence and easy access, making it ideal for a variety of business ventures. Whether you’re envisioning a new pharmacy, boutique retail store, or your own unique concept, this location provides the perfect foundation for success. Benefit from ample street parking and continuous foot and vehicle traffic in one of Morro Bay’s most desirable commercial areas. Don’t miss this rare opportunity to establish your destination business in a vibrant and thriving community.
Price reduction with new vacancy info: Apartment 2 is currently vacant, Apartment 5 will be vacant at the end of November, and Apartment 4 will be vacant December 1st, allowing three units to become available and creating potential for increased rental income. This Spanish-style five-unit apartment complex in the heights of Morro Bay offers incredible potential, featuring one 2-bedroom unit, one studio, and three 1-bedroom apartments. Original hardwood flooring runs through all living rooms, and apartments 1 and 2 offer views of Morro Rock. The front lot, which includes the building, is 13,733 sq. ft., while the rear lot adds an additional 5,000 sq. ft. Combined, the two total approximately 18,733 sq. ft. (0.43 acres), offering a rare opportunity in this highly desirable location. Conveniently located near downtown Morro Bay, with easy access to the highway, and close to Black Hill and the golf course. Whether you’re seeking an income-producing property or a unique renovation project, this is a rare find! Buyer to verify all information and conduct their own due diligence regarding lot size, zoning, and development potential. Agents please see private remarks.
Enjoy spectacular whitewater ocean and rock views from both the main home and detached secondary unit of this property. Main house is two bedrooms and two bathrooms. The upstairs includes the kitchen, living room, and dining area, featuring decks and open beam ceilings. Two bedrooms and both bathrooms are located on the lower level, which also includes a large utility room. The charming secondary unit is single level and one bedroom and one bathroom. The living room includes a cute dining nook and deck access. This is a very unique opportunity for 2 detached homes on a down slope lot with ocean views.
Morro Bay is located in California. Morro Bay, California has a population of 10,785. Morro Bay is less family-centric than the surrounding county with 24.49% of the households containing married families with children. The county average for households married with children is 26.98%.
The median household income in Morro Bay, California is $80,808. The median household income for the surrounding county is $82,514 compared to the national median of $69,021. The median age of people living in Morro Bay is 51.3 years.
The average high temperature in July is 69.8 degrees, with an average low temperature in January of 44.3 degrees. The average rainfall is approximately 19 inches per year, with 0 inches of snow per year.
