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$1,649,000 -$50,000 (-2.94%) Price Reduced

  • For Sale
  • Active
  • Multi-Family
  • Updated 6 hours ago
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Prime income property with ocean views in Morro Bay Exceptional mixed-use investment opportunity in one of the most desirable locations in Morro Bay. Ideally situated within walking distance to both the vibrant Morro Bay Embarcadero and charming downtown shops and restaurants, this property offers strong income potential paired with incredible ocean views. The property features three separate units: Upstairs residential unit: Spacious 3-bedroom, 2-bathroom residence featuring a private balcony with stunning ocean and rock views. The living room and kitchen both capture the coastal scenery creating a bright and inviting living space. Commercial office space: Located downstairs, this securely rented office unit has been occupied by a long-term tenant, providing reliable income. Additional Residential Unit: Comfortable 1-bedroom, 1 bath unit offering flexibility for rental income, guest use or extended living. The property also included two 2-car garages, providing dedicated parking and storage for the residential units, an excellent amenity in this sought -after coastal area. Don't miss this rare opportunity to own this versatile income property in the heart of Morro Bay.

Full Property Details for 1187 Main

General

  • Price: $1,649,000
  • Status: Active
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: NS26053910
  • Updated: 5/26/2026
  • Days on Market: 73 days
  • Added to Site: 73 day(s) ago

Interior

  • Interior Features: Balcony, Open Floorplan
  • Fireplace(s): Gas, Living Room
  • Appliances: Convection Oven, Gas Range, Dishwasher

Rooms

Other Rooms

  • Laundry: In Garage, In Closet, Gas & Electric Dryer Hookup

Additional Information

  • Pool Description: None

Parking

  • Garage Spaces: 2

Location

  • Area: MRBY - Morro Bay
  • County: San Luis Obispo
  • Development Name: MRBY - Morro Bay
  • Driving Directions: from hwy 41 head South on Main st towards downtown

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Ductless, Central

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 3
  • # Electric Meters: 3

Structural Information

  • Entry Location: 1
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 2,975
  • Year Built: 2006

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 3

Unit 2

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 1

Lot Features

  • Property View: Ocean
  • Lot Size (Acres): 0.16
  • Lot Size (Sq. Ft.): 6,970
  • Lot Size Source: Assessor
  • Lot Description: 2-5 Units/Acre

Financial Considerations

  • Price Per Sq. Ft.: $554.29
  • Price Per Unit: 549667

Disclosures and Reports

  • Exclusions: Cabinets in Garage and reverse osmosis
  • Inclusions: all appliances

Listed by Property Pros, Lisa Sokolowski

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Listing agent

— 1187 Main —

  • Lisa Sokolowski

    Property Pros

805-975-7631

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1187 Main

School District:San Luis Coastal Unified School District
NameGradesDistance
Del Mar Elementary School
501 Sequoia Street, Morro Bay, CA 93442
K-61.9 mi
Los Osos Middle School
1555 El Moro St., Baywood-Los Osos, CA 93402
7-83.6 mi
Morro Bay High School
235 Atascadero Road, Morro Bay, CA 93442
9-121 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1187 Main Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/26/2026
Price Reduced
$1,649,000
-2.94%
MLS
3/14/2026
Listed
$1,699,000
47.74%
MLS
10/17/2018
Sold
$1,150,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1187 Main

Year
Property Taxes
Change
Tax Assessment
Change
2025
$14,140
2%
$1,282,842
2%
2024
$13,899
2%
$1,257,689
2%
2023
$13,648
7%
$1,233,029
2%
2022
$12,793
2%
$1,208,853
2%
2021
$12,589
1%
$1,185,151
1%
2020
$12,460
1%
$1,173,000
47%
2019
$12,331
44%
$800,000
—
2018
$8,578
14%
$800,000
14%
2017
$7,506
2%
$700,000
2%
2016
$7,345
—
$685,000
—
2015
$7,343
7%
$685,000
—
2013
$6,877
—
$685,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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with our affiliated lender
NMLS#: 1598647

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Listed by Property Pros, Lisa Sokolowski

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1187 Main, Morro Bay, CA 93442 (MLS# NS26053910) is a Multi-Family property with 3 units containing 0 bedrooms and 0 full bathrooms. 1187 Main is currently listed for $1,649,000 and was received on March 14, 2026. Want to learn more about 1187 Main? Do you have questions about finding other Multi-Family real estate for sale in Morro Bay? You can browse all Morro Bay real estate or contact a Coldwell Banker agent to request more information.

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