Under contract

Active Under Contract

3100 Main Street

Morro Bay CA, 93442

$3,390,000


$470.83 per sqft

Under contract

Active Under Contract

7,200 sqft

Multi-family

Built in 1972

Listed by Erik Berg-Johansen with Richardson Sotheby's International Realty 805-538-1828

Welcome to your dream investment opportunity in Morro Bay, CA! Nestled close to the Pacific Ocean, the vibrant downtown district, and the Embarcadero, this 9-unit apartment building offers an unparalleled combination of coastal charm and income potential. Embrace the California lifestyle with easy access to white sand beaches and a world class Mediterranean climate. Located in a popular tourist destination, and in close proximity to San Luis Obispo and Paso Robles wine country, the region benefits from strong economics and employment opportunities. The property is situated next to a small shopping center, and is less than one mile from Spencer's Fresh Markets grocery store and various local favorite restaurants and shops. Just across Highway 1 to the south is the Cloisters Community Park, Morro Bay High School, and access to wide open dunes and beaches. Each of the 9 apartments includes 2 bedrooms and 1 bathroom, offering spacious and comfortable living spaces. Remodeled kitchens and bathrooms feature shaker cabinets, granite counters, dishwashers, and fully equipped appliances. Newer double pane windows, onsite private garages, and separate in-unit laundry ensure convenient living for all. The garages feature automatic openers, power outlets, and large built-in storage cabinets. Onsite parking is available in front of each garage, as well as under a car port offering additional spaces. Featuring queen palms, birds of paradise, and succulents, the attractive low maintenance landscaping is on drip irrigation and compliments the building's vibrant colors and Spanish style architecture. Three ground floor units feature private backyard patios, perfect for outdoor living, bike storage, and gardening. Upstairs units benefit from ocean views, with the largest apartment featuring a spacious balcony that enjoys views of the ocean and Morro Rock. In addition to the 9 apartments, the property includes a well-equipped owner's workshop and garage complete with access to utilities. Utilize the workshop as your own retreat, or convert the space into an attached Accessory Dwelling Unit (ADU) to further increase income potential and value. There may also be an opportunity to construct two (2) ADUs, bringing the total unit count to 11 (verify with the City of Morro Bay). Don't miss out on this rare opportunity to own a piece of paradise in one of California's most desirable and valuable destinations. *CONTACT LISTING OFFICE BEFORE GOING ONSITE*

SC24127971

MLS ID

June 22, 2024

Listed

October 17, 2024

Updated

Map

3100 Main Street
Morro Bay CA, 93442

Interior Features

Total Stories

2


Interior Features

Granite Counters


Appliances

Electric Range


Laundry Description

Inside, Laundry Closet


Fireplace

No


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Electric

Exterior/Building Features

Lot Size

0.33 Acres


Lot Features

Corner Lot


Architectual Style

Mediterranean


Sewer

Public Sewer

Other Property Details

Area Name

MRBY - Morro Bay


Days on Market

83


Garage

Yes


Garage Spaces

10


Parking

Assigned, Garage


Parking Total

23


View

Yes


View Description

Coastline, Hills


County

San Luis Obispo


Water Source

Public


Pool

No


Pool Features

None


Zoning

Neighborhood Commercial

Listing History

Date

Event

Price

9/13/2024

Under contract

Listing Contact: 805-781-6040 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/17/2024 at 10:25 AM UTC

 

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