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**
Current real estate data for Single Family in Morro Bay as of Jun 26, 2025
46
Single Family Listed
105
Avg DOM
916
Avg $ / SqFt
$1,808,226
Avg List Price
Property Details
Price:
$549,000
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:
6,534 sqft / 0.15 acres (approx)
Year Built:
1947
Schools
School District:
San Luis Coastal Unified
Elementary School:
Del Mar
Middle School:
Los Osos
High School:
Morro Bay
Interior
Cooling
None
Fireplace Features
None
Exterior
Community Features
Biking, Curbs, Fishing, Hiking, Park, Watersports, Preserve/ Public Land, Sidewalks, Suburban
Fencing
None
Garage Spaces
0.00
Lot Features
0-1 Unit/ Acre, Back Yard, Corners Marked, Front Yard, Lot 6500-9999, Rectangular Lot, Level, Park Nearby, Tear Down, Utilities – Overhead, Value In Land, Walkstreet, Yard
Parking Spots
0.00
Pool Features
None
Roof
None
Sewer
Public Sewer
Stories Total
1
View
Neighborhood
Water Source
Public
Financial
Association Fee
0.00
Map
Contact Us
Mortgage Calculator
Community
- Address1188 Allesandro St Morro Bay CA
- NeighborhoodMRBY – Morro Bay
- CityMorro Bay
- CountySan Luis Obispo
- Zip Code93442
Subdivisions in Morro Bay
- Beach Tract730
- Cloisters740
- Embarcadero750
- Highway 41770
- Morro Creek Rd 790
- Morro del Mar800
- Morro Heights 810
- North Morro Bay 820
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Property Summary
- 1188 Allesandro St Morro Bay CA is a Single Family for sale in Morro Bay, CA, 93442. It is listed for $549,000 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 $679. The average price per square foot for Single Family listings in Morro Bay is $916. The average listing price for Single Family in Morro Bay is $1,808,226.
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Similar Listings Nearby
Courtesy of Gold Group Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than CornerStone Real Estate include the name of the listing broker. Neither the listing company nor CornerStone Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved. 1188 Allesandro St
Morro Bay, CA
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