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**
Property Details
Price:
$549,000
MLS #:
SN25106626
Status:
Active
Beds:
2
Baths:
1
Address:
1188 Allesandro St
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
mrbymorrobay
City:
Morro Bay
Listed Date:
May 13, 2025
State:
CA
Finished Sq Ft:
808
ZIP:
93442
Lot Size:
6,730 sqft / 0.15 acres (approx)
Year Built:
1947
See this Listing
Mortgage Calculator
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
Community
- Address1188 Allesandro St Morro Bay CA
- AreaMRBY – Morro Bay
- CityMorro Bay
- CountySan Luis Obispo
- Zip Code93442
Similar Listings Nearby
- 1035 Las Tunas Street
Morro Bay, CA$699,000
0.15 miles away
- 490 Island Street
Morro Bay, CA$689,000
2.80 miles away
- 1240 Morro Avenue
Morro Bay, CA$650,000
1.09 miles away
- 331 Panay Street
Morro Bay, CA$565,000
3.13 miles away
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 The California Company include the name of the listing broker. Neither the listing company nor The California Company 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
LIGHTBOX-IMAGES
