Prime Investment Opportunity in Coastal Morro Bay!
Located just steps from the scenic Morro Bay State Park and minutes from the iconic Morro Rock Beach, this rare offering presents a versatile development opportunity in one of California’s most desirable coastal towns. Situated on a semi-private lot nestled between just two adjoining parcels, this property offers a sense of privacy while maintaining easy access to key local amenities.
Currently featuring a tear-down structure, the site is primed and ready for redevelopment—with all utilities already connected, saving time and cost on initial groundwork. Zoned for medium density use, this lot allows for a range of residential development possibilities, whether you’re looking to build your dream coastal getaway, a multi-unit investment property, or a modern single-family residence with additional units for income potential.
Adjacent to a second available lot (sold separately), buyers have the option to expand their footprint and take full advantage of the area’s flexible zoning to create a larger-scale project or a more spacious estate. Together, the combined parcels open the door to creative configurations and increased building potential—perfect for developers, investors, or visionaries seeking a unique slice of the Central Coast.
The location is a standout—bordering the peaceful greenery of the State Park while remaining just a short drive from downtown Morro Bay’s shops, restaurants, and waterfront activities. With easy access to Highway 1, commuting to San Luis Obispo, Cambria, or other neighboring beach towns is a breeze.
Whether you’re a seasoned investor or a first-time builder looking for a special place to create something extraordinary, this property offers unmatched potential in a prime location. Don’t miss this chance to secure a piece of coastal California with flexibility, privacy, and strong future returns.
Please note: Property is being sold for land value only. Adjacent lot available under separate listing.
***DANGER! DO NOT ATTEMPT TO ENTER ANY STRUCTURES DUE TO VERY HAZARDOUS CONDITIONS**
Located just steps from the scenic Morro Bay State Park and minutes from the iconic Morro Rock Beach, this rare offering presents a versatile development opportunity in one of California’s most desirable coastal towns. Situated on a semi-private lot nestled between just two adjoining parcels, this property offers a sense of privacy while maintaining easy access to key local amenities.
Currently featuring a tear-down structure, the site is primed and ready for redevelopment—with all utilities already connected, saving time and cost on initial groundwork. Zoned for medium density use, this lot allows for a range of residential development possibilities, whether you’re looking to build your dream coastal getaway, a multi-unit investment property, or a modern single-family residence with additional units for income potential.
Adjacent to a second available lot (sold separately), buyers have the option to expand their footprint and take full advantage of the area’s flexible zoning to create a larger-scale project or a more spacious estate. Together, the combined parcels open the door to creative configurations and increased building potential—perfect for developers, investors, or visionaries seeking a unique slice of the Central Coast.
The location is a standout—bordering the peaceful greenery of the State Park while remaining just a short drive from downtown Morro Bay’s shops, restaurants, and waterfront activities. With easy access to Highway 1, commuting to San Luis Obispo, Cambria, or other neighboring beach towns is a breeze.
Whether you’re a seasoned investor or a first-time builder looking for a special place to create something extraordinary, this property offers unmatched potential in a prime location. Don’t miss this chance to secure a piece of coastal California with flexibility, privacy, and strong future returns.
Please note: Property is being sold for land value only. Adjacent lot available under separate listing.
***DANGER! DO NOT ATTEMPT TO ENTER ANY STRUCTURES DUE TO VERY HAZARDOUS CONDITIONS**
Property Details
Price:
$531,000
MLS #:
SN25106626
Status:
Active
Beds:
2
Baths:
1
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
mrbymorrobay
Listed Date:
May 13, 2025
Finished Sq Ft:
808
Lot Size:
6,730 sqft / 0.15 acres (approx)
Year Built:
1947
See this Listing
Schools
School District:
San Luis Coastal Unified
Elementary School:
Del Mar
Middle School:
Los Osos
High School:
Morro Bay
Interior
Bathrooms
1 Full Bathroom
Cooling
None
Laundry Features
None
Exterior
Community Features
Biking, Curbs, Fishing, Hiking, Park, Watersports, Preserve/ Public Land, Sidewalks, Suburban
Other Structures
Outbuilding
Parking Spots
0.00
Roof
None
Financial
Map
Community
- Address1188 Allesandro St Morro Bay CA
- NeighborhoodMRBY – Morro Bay
- CityMorro Bay
- CountySan Luis Obispo
- Zip Code93442
Market Summary
Current real estate data for Single Family in Morro Bay as of Sep 01, 2025
44
Single Family Listed
114
Avg DOM
855
Avg $ / SqFt
$1,830,381
Avg List Price
Property Summary
- 1188 Allesandro St Morro Bay CA is a Single Family for sale in Morro Bay, CA, 93442. It is listed for $531,000 and features 2 beds, 1 baths, and has approximately 808 square feet of living space, and was originally constructed in 1947. The current price per square foot is $657. The average price per square foot for Single Family listings in Morro Bay is $855. The average listing price for Single Family in Morro Bay is $1,830,381. To schedule a showing of MLS#sn25106626 at 1188 Allesandro St in Morro Bay, CA, contact your Outland and Associates Real Estate agent at 8054813939.
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