Elite Real Estate Group
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Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Embarcadero(750)
MLS Listing ID SC26221926
Construction Status Building Permit,Updated/Remodeled
HOA Y/N No
Year Built 1989
Lot Size 5,227 Sqft
Property Sub-Type Mixed Use
Property Description
Extensively renovated in 2019 and 2023, this versatile four-unit property seamlessly blends comfortable coastal living with established short-term rental accommodations and the potential for additional income. Offering approximately 2,960 square feet of finished living space, the property features a main-level, one-bedroom owner's residence with a full kitchen, living room, laundry room, storage and bathroom. Upstairs, a second one-bedroom unit offers a full kitchen, living room, bathroom, sitting room (currently being used as a 2nd bedroom) and spectacular water views. Two additional upstairs studios each feature a kitchenette-style prep area and private bathroom. Three garages provide parking for up to five vehicles.
Currently, the owners occupy one unit while operating the remaining three as short-term rentals, with an emphasis on providing a quiet, high-quality guest experience. The owner's residence presents an opportunity to generate additional rental income, offering flexibility for a future owner to enjoy the property as a personal coastal retreat, an income-producing investment, or a combination of both.
Originally operated as a bed and breakfast, the property is situated within the C-VS (Visitor-Serving Commercial) and R-3 (Multifamily Residential) zoning districts. Short-term rental operations are permitted under applicable zoning provisions and are exempt from the City's residential short-term rental cap and waitlist, subject to City requirements. Upon acquisition, new owners must obtain their own City of Morro Bay business license and Transient Occupancy Tax (TOT) Certificate. The property is served by a single utility account, with one meter each for water, electricity, and gas.
Buyers are advised to independently verify zoning, permitted uses, licensing requirements, and all regulations governing future rental operations with the City of Morro Bay.
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Interior
Interior Features Balcony, Ceiling Fan(s), Main Level Primary
Heating Combination, Forced Air, Natural Gas, Wall Furnace
Cooling None
Flooring Carpet, Stone, Tile, Vinyl
Fireplaces Type None
Fireplace No
Appliance Electric Cooktop, Microwave, Refrigerator, Self Cleaning Oven, Water Heater
Laundry Inside, In Garage
Exterior
Exterior Feature Awning(s), Lighting, Rain Gutters
Parking Features Door-Multi, Direct Access, Door-Single, Driveway, Garage, Garage Door Opener, Paved
Garage Spaces 5.0
Garage Description 5.0
Fence Average Condition, Brick, Wood
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Waterfront Description Across the Road from Lake/Ocean,Navigable Water,Ocean Side Of Highway
View Y/N Yes
View Bay, City Lights, Ocean
Roof Type Composition
Total Parking Spaces 5
Private Pool No
Building
Lot Description Level, Paved, Rectangular Lot, Street Level
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Bungalow, Cape Cod
Level or Stories Two
New Construction No
Construction Status Building Permit,Updated/Remodeled
Others
Senior Community No
Tax ID 066035003
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Nearby Schools & Businesses
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Elite Real Estate Group
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