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A distinctive opportunity for coastal living and investment, ideally situated just steps from the water and moments from Morro Bay's vibrant Embarcadero and downtown. Captivating bay and ocean views bring the beauty and sounds of the waterfront to life, while inviting outdoor decks provide the perfect setting to relax and embrace the coastal lifestyle. 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.
| Last Updated | 10/20/2026 | Tract | Embarcadero(750) |
|---|---|---|---|
| Year Built | 1989 | Community | MRBY - Morro Bay |
| Garage Spaces | 5.0 | County | San Luis Obispo |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Electric Cooktop, Microwave, Refrigerator, Self Cleaning Oven, Water Heater |
| AREA | MRBY - Morro Bay |
| CONSTRUCTION | Stone, Vertical Siding, Wood Siding |
| EXTERIOR | Awning(s), Balcony, Lighting, Rain Gutters |
| GARAGE | Yes |
| HEAT | Forced Air, Natural Gas, Wall Furnace |
| INTERIOR | Ceiling Fan(s), Master Downstairs |
| LOT | 5227 sq ft |
| LOT DESCRIPTION | Level, Paved, Rectangular Lot |
| LOT DIMENSIONS | 5227 |
| PARKING | Direct Access, Driveway, Garage, Garage Door Opener, Paved |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Bungalow, CapeCod |
| SUBDIVISION | Embarcadero(750) |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Bay, City Lights, Ocean |
| WATER | Public |
| WATERFRONT DESCRIPTION | Navigable Water |
Location
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/22/26 12:04 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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