Three-Unit Mixed-Use
1160 West, Morro Bay, CA 93442
For Sale
$1,629,000
Commercial Sale, Morro Bay, CA
Property Size3,094 SF
Lot Size0.11 Acres
Price / SF$526.50
Days on Market68
Property Features for 1160 West
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Tenant in Place
Building Details
Year built
Buildings
Listing Agency:
Franklin Real Estate & Rentals
(805) 772-4277
Listed By:
Matthew Franklin · License CA #01326603
(805) 459-4215
Added: Sep 5
Changed: Nov 2
Last Checked: Nov 11 at 2:06AM
MLS# SC26195051
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1945, this mixed-use property contains two apartments and a commercial unit, with a total building area of 3,094 square feet. The upstairs apartment has three bedrooms, one full bathroom, and indoor laundry. The downstairs apartment includes one bedroom, an office, one bathroom, and indoor laundry. The commercial unit is also downstairs. The upstairs apartment has views of Morro Rock and the harbor.
The property is in Morro Bay’s Embarcadero neighborhood. Its 40.9 ft x 112 ft parcel runs street to street. Site improvements include a detached one-car garage and four off-street parking spaces. All three units are fully occupied by long-term tenants, and the property is professionally managed.
The property is in Morro Bay’s Embarcadero neighborhood. Its 40.9 ft x 112 ft parcel runs street to street. Site improvements include a detached one-car garage and four off-street parking spaces. All three units are fully occupied by long-term tenants, and the property is professionally managed.
Key Highlights
- Three‑unit configuration with two apartments and one commercial space
- 3,094 square feet of building area; built in 1945
- Upstairs apartment has 3 bedrooms, 1 full bath, indoor laundry, and views of Morro Rock and the harbor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,696
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,920
$1.3M
Cap Rate 7%
$924,229
$924.2K
Cap Rate 9%
$718,844
$718.8K
Market Conditions
NOI Build-Up for 3,094 SF
Gross rent
$94.7K $30.60/SF
− Vacancy
−$2.3K −$0.73/SF
EGI
$92.4K $29.87/SF
− OpEx
−$27.7K −$8.96/SF
NOI
$64.7K $20.91/SF
Area
San Luis Obispo County, CA
Vacancy
2.38%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,920
Cap Rate 7%
$924,229
Cap Rate 9%
$718,844
Alternative Uses
Best Use
Multifamily LT 5
$924.2K
$808.7K – $1.08M
NOI $64,696 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$853.3K
$746.6K – $995.5K
NOI $59,730 @ 7.0% cap · market cap 3.67%
Theoretical Best
Healthcare Medical
$1.22M
$1.06M – $1.42M
NOI $85,178 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
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Business Placement
Demographics for 93442, CA
11,390
Population
6,537
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
93%
High-School Grad
44.5 sq mi
ZIP Area
256
Density / Sq Mi
$92,163
Median Household Income
$50,651
Median Earnings
$1,815
Median Rent
$870,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in San Luis Obispo County, CA
Properties on Market for Mixed-use properties in San Luis Obispo County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential apartments and a commercial unit are fully occupied by long-term tenants.
Where is this mixed-use property located?
The property is located at 1160 West Morro Bay, CA.
What is the asking price?
The asking price for this property is $1,629,000.
What are key features of this property?
This property features: Three‑unit configuration with two apartments and one commercial space; 3,094 square feet of building area; built in 1945; Upstairs apartment has 3 bedrooms, 1 full bath, indoor laundry, and views of Morro Rock and the harbor
