Four-Unit Coastal Multifamily
457 Piney Way Morro Bay, CA 93442
457 Piney Way, Morro Bay, CA, 93442
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For Sale
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Brand-new four-unit property in Morro Bay with a two-unit duplex and two detached ADUs, each with balconies.
Property Size4,474 SF
Price / SF$659.37
Days on Market83
Property Features for 457 Piney Way
General Information
- Standard status
- Active
- Size
- 4,474 SF
- Property subtype
- Multifamily
Listing agency
BHGRE Haven Properties
Listed by
Sheri D'Amico · License #01924542
Source
Crexi
Added: Apr 30 Updated: Jul 20 at 6:31PM Checked: Jul 20 at 6:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHGRE Haven Properties
Investment Insights
Based on property information with market context.
Newly constructed four-unit multifamily property in Morro Bay combining a two-story duplex with two detached ADUs. The duplex includes two separate residences, each with 3BR/2.5BA, and open-concept kitchen, dining, and living areas. Both residences also feature second-story balconies. The interior finishes include quartz countertops, Milgard dual-pane windows, and soft-close cabinetry and drawers.
Completing the property are two detached ADUs, each approximately 526 sq ft with 1BR/1BA, and each also includes a second-story balcony. One ADU is described as offering partial ocean views from both the bedroom and deck.
For utilities and management, each unit is separately metered for utilities and water. The property also includes owned solar, supporting independent usage across the four units.
Completing the property are two detached ADUs, each approximately 526 sq ft with 1BR/1BA, and each also includes a second-story balcony. One ADU is described as offering partial ocean views from both the bedroom and deck.
For utilities and management, each unit is separately metered for utilities and water. The property also includes owned solar, supporting independent usage across the four units.
Key Highlights
- Brand‑new four‑unit property in Morro Bay: a two‑story duplex plus two detached ADUs.
- Duplex unit sizes: 1,768 SF and 1,654 SF, each with 3BR/2.5BA.
- Each duplex residence includes a second‑story balcony with partial coastline views.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.9k | $30.60 |
| − Vacancy | −$3.3k | −$0.73 |
| EGI | $133.6k | $29.87 |
| − OpEx | −$40.1k | −$8.96 |
| NOI | $93.6k | $20.91 |
4,474 SF · lease $30.60/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,552 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,371 @ 7.0% cap · market cap 2.93%
Theoretical Best
Healthcare Medical
$1.76M
$1.54M – $2.05M
NOI $123,169 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Brand-new four-unit property in Morro Bay with a two-unit duplex and two detached ADUs, each with balconies.
Where is this quadplex located?
The property is located at 457 Piney Way Morro Bay, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Brand‑new four‑unit property in Morro Bay: a two‑story duplex plus two detached ADUs.; Duplex unit sizes: 1,768 SF and 1,654 SF, each with 3BR/2.5BA.; Each duplex residence includes a second‑story balcony with partial coastline views.
