2783 Coral Ave, Morro Bay

$2,800,000

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0 Bed
0 Bath
.99 Acre
0 Garage

Embark on an exceptional investment and development venture situated between the acclaimed Beach Tract and the renowned Cloisters neighborhoods. This fully approved 5-lot subdivision, set against the scenic backdrop west of Highway 1, presents an extraordinary opportunity for visionary development. Nestled within Morro Bay's most sought-after locale, this one-acre parcel is poised for transformation. The Cloisters spans an impressive 84 acres, featuring 57 acres of dedicated open space preserve, a charming one-acre public park, and an extensive network of over two miles of paved trails, including direct beach access. Your investment stands as a gateway to this coastal haven. Included in this rare offering is more than just land; it comes complete with a comprehensive package, including approved architectural plans, meticulously crafted landscape designs, construction documents, Coastal Commission approval, and permits extending through February 2025. Your path to success is illuminated, and the time to seize this opportunity is now. This isn't just a real estate venture; it's a chance to be part of the legacy of Morro Bay's coastal evolution. With a proven demand for single-family homes in this sought-after beachside community, capitalize on the current market dynamics and secure your place in history. Don't miss out on this once-in-a-lifetime opportunity to shape the future of Morro Bay's real estate landscape.

Essential Information

MLS® #
SC24042430
Price
$2,800,000
Bathrooms
0.00
Acres
0.99
Type
Land
Status
Active

Community Information

Address
2783 Coral Ave
Area
MRBY - Morro Bay
Subdivision
Cloisters(740)
City
Morro Bay
County
San Luis Obispo
Zip Code
93442
Senior Community
N

Community Features

Biking, Curbs, Park, Preserve/Public Land, Sidewalks

Amenities

Utilities
Water Not Available

Lot Description

2-5 Units/Acre, Corner Lot, Street Level

Additional Information

Date Listed
March 1st, 2024
Days on Market
81
Zoning
REC

Listing Details

Agent
Frankie Ciano
Office
Ciano Real Estate, Inc.

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Frankie Ciano - Ciano Real Estate, Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of May 21st, 2024 at 8:21am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.