457 Piney Way 4 Unit Apartment Building Offered at $4,022,797 CAD at a 3.99% Cap Rate Morro Bay, CA 93442

This property offers a rare opportunity to own a brand-new, coastal multi-unit residence just moments from Main Street in the heart of beautiful Morro Bay. This newly constructed four-unit property offers exceptional flexibility for multi-generational living, investment income, or owner-occupied rental potential in one of the Central Coast’s most sought-after communities. The centerpiece of the property is a two-story duplex featuring two spacious residences, one offering 1,768 sq ft and the other 1,654 sq ft, each with 3BR/2.5BA. Thoughtfully designed with open-concept floor plans for modern coastal living, both homes provide seamless flow between the kitchen, dining, and living spaces, creating a bright and inviting atmosphere ideal for everyday living and entertaining. Each residence also features second-story balconies with partial coastline views, creating the perfect setting to enjoy ocean breezes and stunning sunsets. Inside, the homes showcase quartz countertops, Milgard dual-pane windows, soft-close cabinetry and drawers, and contemporary kitchens with clean, modern finishes throughout. Complementing the duplex are two detached ADUs, each approximately 526 sq ft with 1BR/1BA. These well-appointed units also include second-story balconies, offering additional outdoor living space and versatility for extended family, guests, or rental income. One ADU features partial ocean views from both the bedroom and deck. Built with efficiency and safety in mind, each unit is separately metered for utilities and water, includes owned solar, and is equipped with its own fire sprinkler system that reports directly to the fire department for added peace of mind. This turnkey new construction offers an exceptional opportunity to own a versatile, income-producing asset just minutes from downtown Morro Bay, local dining, shopping, and the waterfront. Estimated completion is late May to early June—don’t miss your chance to secure a modern slice of coastal living. Photos will be updated as project progresses.