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$2,490,000

  • For Sale
  • Active
  • Multi-Family
  • Updated 1 day ago
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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.

Full Property Details for 485 Morro Ave

General

  • Price: $2,490,000
  • Status: Active
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: SC25220419
  • Updated: 1/14/2026
  • Days on Market: 120 days
  • Added to Site: 120 day(s) ago

Interior

  • Rooms/Areas: See Remarks, Two Primaries
  • Fireplace(s): Living Room

Rooms

Other Rooms

  • Laundry: Inside

Additional Information

  • Pool Description: None

Parking

  • Garage Spaces: 2
  • Parking Features: Carport, Garage, RV Access/Parking, See Remarks
  • Parking: Carport, Garage, RV Access/Parking, See Remarks

Location

  • Area: MRBY - Morro Bay
  • County: San Luis Obispo
  • Development Name: MRBY - Morro Bay
  • Driving Directions: Main st to Morro Ave

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Wall Furnace

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 2
  • # Electric Meters: 2

Structural Information

  • Architectural Style: Ranch
  • Foundation: Raised
  • Roof: Composition, Shingle
  • Entry Location: 1
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 3,242
  • Year Built: 1930

Unit Information

Unit 1

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

Lot Features

  • Property View: Back Bay, See Remarks
  • Lot Size (Acres): 0.5425
  • Lot Size (Sq. Ft.): 23,632
  • Lot Size Source: Appraiser
  • Lot Description: Corner Lot

Financial Considerations

  • Price Per Sq. Ft.: $768.04
  • Price Per Unit: 2490000

Listed by Coast Realty, Christopher Bath

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Listing agent

— 485 Morro Ave —

  • Christopher Bath

    Coast Realty

805-801-0268

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 485 Morro Ave

School District:San Luis Coastal Unified School District
NameGradesDistance
Del Mar Elementary School
501 Sequoia Street, Morro Bay, CA 93442
K-62.4 mi
Los Osos Middle School
1555 El Moro St., Baywood-Los Osos, CA 93402
7-83.1 mi
Morro Bay High School
235 Atascadero Road, Morro Bay, CA 93442
9-121.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 485 Morro Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/12/2025
Price Reduced
$2,490,000
-9.45%
MLS
9/18/2025
Listed
$2,750,000
77.42%
MLS
8/11/2025
Sold
$1,550,000
—
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 485 Morro Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$20,942
344%
$1,900,000
345%
2024
$4,716
2%
$426,741
2%
2023
$4,631
7%
$418,375
2%
2022
$4,341
2%
$410,173
2%
2021
$4,272
1%
$402,131
1%
2020
$4,228
1%
$398,009
2%
2019
$4,184
4%
$390,206
2%
2018
$4,027
2%
$382,555
2%
2017
$3,946
2%
$375,055
2%
2016
$3,868
2%
$367,702
2%
2015
$3,807
9%
$362,180
2%
2014
$3,495
—
$355,086
—
2013
$3,479
—
$353,482
—
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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Listed by Coast Realty, Christopher Bath

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485 Morro Avenue, Morro Bay, CA 93442 (MLS# SC25220419) is a Multi-Family property with 1 unit containing 0 bedrooms and 0 full bathrooms. 485 Morro Avenue is currently listed for $2,490,000 and was received on September 18, 2025. Want to learn more about 485 Morro Avenue? 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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