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685 Kings Ave

Morro Bay, CA 93442

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$1,400,000

3,066 sq ft
  |  
0.43 acre

685 Kings Ave

Morro Bay, CA 93442

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Listed On: 04/17/2025
Status: Pending (Taking Backup Offers)
Listing Number: SC25082846 (CRMLS)

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Contact Info

Advertising Agent:

London Properties, Ltd.
London Properties, Ltd. 559.436.4071 Email Agent
Property Description
Listing Agent: Natalie Boudreau White, BHGRE HAVEN PROPERTIES
Listing Co-Agent: Jennine Dunne, BHGRE Haven Properties

 Price reduction with new vacancy info: Apartment 2 is currently vacant, Apartment 5 will be vacant at the end of November, and Apartment 4 will be vacant December 1st, allowing three units to become available and creating potential for increased rental income. This Spanish-style five-unit apartment complex in the heights of Morro Bay offers incredible potential, featuring one 2-bedroom unit, one studio, and three 1-bedroom apartments. Original hardwood flooring runs through all living rooms, and apartments 1 and 2 offer views of Morro Rock. The front lot, which includes the building, is 13,733 sq. ft., while the rear lot adds an additional 5,000 sq. ft. Combined, the two total approximately 18,733 sq. ft. (0.43 acres), offering a rare opportunity in this highly desirable location. Conveniently located near downtown Morro Bay, with easy access to the highway, and close to Black Hill and the golf course. Whether you're seeking an income-producing property or a unique renovation project, this is a rare find! Buyer to verify all information and conduct their own due diligence regarding lot size, zoning, and development potential. Agents please see private remarks.
Property Sub Type
Apartment
Year Built
1930
Year Built Source
Assessor
Special Listing Conditions
Trust
Stories Total
1
Levels
One
Number Of Buildings
1
Number Of Units Total
5
Entry Level
1
Price Per Square Foot
$457
Price Per Unit
$280,000
Days On Market
243
Cumulative Days On Market
243
County Or Parish
San Luis Obispo
New Construction Y/N
No
Property Attached Y/N
Yes
Rent Control Y/N
No
Cooling Y/N
No
Directions
On the corner of Kings & Las Tunas
Room Type
Kitchen, Living Room
Cooling
None
Laundry Y/N
Yes
Laundry Features
Common Area
Roof
Tile
Appliances Y/N
Yes
Appliances
Electric Oven
Interior Features
Beamed Ceilings
Flooring
Laminate, Wood
Common Walls
2+ Common Walls
Fireplace Y/N
Yes
Fireplace Features
Living Room
Pool Features
None
Pool Private Y/N
No
Spa Y/N
No
Spa Features
None
Number Of Separate Electric Meters
5
Utilities
Sewer Connected, Water Connected
Water Source
Public
Sewer
Public Sewer
Parking Y/N
Yes
Parking Total
5.00
Parking Features
Gravel
Lot Features
0-1 Unit/Acre,Corner Lot
Lot Size Area
18733.0000
Lot Size Units
Square Feet
Elevation Units
Feet
View Y/N
Yes
View
Ocean, Water
Common Interest
Community Apartment
Parcel Number
066082049
Additional Parcels Y/N
Yes
Additional Parcels Description
066-082-048
Neighborhood
Heights
Subdivision Name
Morro Heights (810)
Subdivision Name Other
Morro Heights (810)
Community Features
Golf, Hiking
Senior Community Y/N
No
Association Y/N
No
Tenant Pays
Electricity
Gross Income
59580.00
Operating Expense
20474.00
Land Lease Y/N
No
Assessments
None
Insurance Expense
5000.00
Water Sewer Expense
7392.00
Trash Expense
2124.00
Maintenance Expense
135.00
Fuel Expense
3900.00
Gardener Expense
1740.00
Licenses Expense
183.00
Gross Scheduled Income
59580.00
Gross Income
59580.00
Total Expenses
20474.00
Net Operating Income
39106.00
Operating Expense
20474.00
Gross Income
59580.00
Net Operating Income
39106.00

The data relating to real estate for sale on this web site comes in part from the Internet Data eXchange (IDX) of the Multiple Listing Service. Real estate listings are marked with the IDX logo and detailed information about them includes the name of the listing broker and the name of the listing agent. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Information herein deemed reliable but not guaranteed, representations are approximate, individual verification recommended.

Copyright © 2025  London Properties, Ltd. All rights reserved.

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