Seller's Agent in 2024
Jennifer Dawson
Platinum Properties
(805) 773-7777
1 in this area
57 Total Sales
365 Surf St Morro Bay, CA 93442
Estimated Value: $1,355,120 - $1,479,000
4
Beds
4
Baths
2,448
Sq Ft
$575/Sq Ft
Est. Value
Highlights
- Ocean View
- No HOA
- Walk-In Closet
- Del Mar Elementary School Rated A-
- Double Pane Windows
- Living Room
About This Home
As of January 2024Welcome to 365 Surf Street, a fantastic investment property located in the highly sought-after community of Morro Bay! This multi-unit property, built in 1972, offers an excellent opportunity for both investors and house hackers. Situated on a spacious 7,500 square foot lot, the property comprises a single building with a total of four units, generating an annual income of $40,000 with the potential for so much more. Each unit is a comfortable 612 square feet and includes 1 bedroom, 1 full bathroom, a living room, and a well-equipped kitchen. The property features two units on the upper level and two units on the lower level. All units have the added bonus of a pleasant deck and access to a shared yard and barbecue area. The upper units provide breathtaking views of the ocean, Morro Rock, and the iconic 3 Stacks. Additionally, the two lower garages offer four parking spaces, covering approximately 756 square feet of space. The property has seen around $118,000 in upgrades and improvements, including laminate flooring, tile flooring in the bathrooms and kitchen, stylish faux blinds, new lighting fixtures, fresh paint, dual pane windows for enhanced energy efficiency, upgraded landscaping, and new garage doors. Currently, three of the units are leased at $1,285 per month each, while the remaining unit commands a monthly rent of $1,350. For investors, this property represents a lucrative investment opportunity. House hackers have the flexibility to live in one unit while generating rental income from the others. This rare opportunity places you in close proximity to the beach, Embarcadero, and an array of excellent seafood dining and shopping options. Don't miss your chance to invest in this income-generating property in the charming coastal community of Morro Bay! Take your tour here: https://vid.us/9wfrki or call today!
Last Agent to Sell the Property
Platinum Properties License #01967230 Listed on: 10/02/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,445
Year Built
- Built in 1972
Lot Details
- 7,500 Sq Ft Lot
- Two or More Common Walls
- Level Lot
Parking
- 4 Car Garage
- Carport
- Parking Available
Property Views
- Ocean
- Peek-A-Boo
Home Design
- Quadruplex
Interior Spaces
- 2,448 Sq Ft Home
- 2-Story Property
- Double Pane Windows
- Living Room
- Vinyl Flooring
Kitchen
- Gas Range
- Disposal
Bedrooms and Bathrooms
- 4 Bedrooms
- Walk-In Closet
- 4 Bathrooms
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Outdoor Features
- Exterior Lighting
Utilities
- Forced Air Heating System
- Natural Gas Connected
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 4 / 3
- Tax Tract Number 53
- Assessor Parcel Number 066312009
Community Details
Overview
- No Home Owners Association
- 4 Units
Building Details
- 4 Leased Units
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 4 Separate Water Meters
- Electric Expense $204
- Fuel Expense $300
- Insurance Expense $1,488
- Other Expense $504
- Pest Control $540
- Trash Expense $2,016
- Water Sewer Expense $6,240
- Operating Expense $10,788
- Gross Income $550
- Net Operating Income $40,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 2, 2023
Closed on
Dec 20, 2023
Sold by
2010 G And S Family Trust
Bought by
Harry S Pascuzzi Living Trust and Pascuzzi
Seller's Agent
Jennifer Dawson
Platinum Properties
Buyer's Agent
Jennifer Dawson
Platinum Properties
List Price
$1,475,000
Sold Price
$1,306,375
Premium/Discount to List
-$168,625
-11.43%
Views
146
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$101,655
Avg. Annual Appreciation
4.83%
Original Mortgage
$625,000
Outstanding Balance
$614,640
Interest Rate
6.95%
Mortgage Type
Construction
Estimated Equity
$793,390
Purchase Details
Closed on
Mar 7, 2011
Sold by
Spinelli Gary
Bought by
Spinelli Gary and Spinelli Suzanne
Purchase Details
Closed on
Feb 21, 2011
Sold by
Spinelli Gary
Bought by
Spinelli Gary
Purchase Details
Closed on
Jul 12, 2010
Sold by
Spinelli Gary
Bought by
Spinelli Gary and Spinelli Suzanne
Purchase Details
Closed on
Mar 25, 2009
Sold by
Spinelli Josie B
Bought by
Spinelli Gary
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$161,000
Interest Rate
5.04%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 19, 2009
Sold by
Spinelli Gary
Bought by
Spinelli Josie B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$161,000
Interest Rate
5.04%
Mortgage Type
Commercial
Purchase Details
Closed on
May 2, 2003
Sold by
Spinelli Josie B
Bought by
Spinelli Gary and The Josie B Spinelli Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,500
Interest Rate
5.71%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 27, 2002
Sold by
The Robert Spinelli Trust and Spinelli Oswaldo
Bought by
The Josie B Spinelli Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$63,500
Interest Rate
6.52%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 28, 2002
Sold by
The Robert Spinelli Trust and Spinelli Oswaldo
Bought by
Spinelli Josie B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$63,500
Interest Rate
6.52%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 24, 2002
Sold by
Spinelli Suzanne M
Bought by
Spinelli Gary
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$63,500
Interest Rate
6.52%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 12, 2002
Sold by
Spinelli Josie B
Bought by
Spinelli Gary
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$63,500
Interest Rate
6.52%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 6, 2001
Sold by
Spinelli Robert and Spinelli Josie B
Bought by
Spinelli Robert and Spinelli Josie B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,000
Interest Rate
6.97%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 4, 1997
Sold by
Spinelli Robert and Spinelli Josie B
Bought by
Spinelli Robert and Spinelli Josie B
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Harry S Pascuzzi Living Trust | $1,306,500 | Fidelity National Title | |
| Spinelli Gary | -- | None Available | |
| Spinelli Gary | -- | None Available | |
| Spinelli Gary | -- | None Available | |
| Spinelli Gary | -- | None Available | |
| Spinelli Josie B | -- | None Available | |
| Spinelli Gary | -- | Cuesta Title Company | |
| Spinelli Josie B | -- | Cuesta Title Company | |
| The Josie B Spinelli Trust | -- | -- | |
| The Robert Spinelli Trust | -- | -- | |
| Spinelli Josie B | -- | -- | |
| Spinelli Gary | -- | -- | |
| Spinelli Gary | -- | -- | |
| Spinelli Gary | $179,000 | -- | |
| Spinelli Robert | -- | First American Title Ins Co | |
| Spinelli Robert | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Harry S Pascuzzi Living Trust | $625,000 | |
| Previous Owner | Spinelli Gary | $310,000 | |
| Previous Owner | Spinelli Gary | $350,000 | |
| Previous Owner | Spinelli Gary | $161,000 | |
| Previous Owner | Spinelli Josie B | $171,500 | |
| Previous Owner | Spinelli Josie B | $63,500 | |
| Previous Owner | Spinelli Gary | $63,500 | |
| Previous Owner | Spinelli Gary | $63,500 | |
| Previous Owner | Spinelli Robert | $168,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 01/25/2024 01/25/24 | Sold | $1,306,375 | -8.3% | $534 / Sq Ft |
| 12/17/2023 12/17/23 | Pending | -- | -- | -- |
| 11/04/2023 11/04/23 | Price Changed | $1,425,000 | -3.4% | $582 / Sq Ft |
| 10/02/2023 10/02/23 | For Sale | $1,475,000 | -- | $603 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,445 | $1,332,426 | $408,000 | $924,426 |
| 2024 | $3,383 | $311,748 | $104,605 | $207,143 |
| 2023 | $3,383 | $305,636 | $102,554 | $203,082 |
| 2022 | $3,171 | $299,644 | $100,544 | $199,100 |
| 2021 | $3,121 | $293,770 | $98,573 | $195,197 |
| 2020 | $3,089 | $290,759 | $97,563 | $193,196 |
| 2019 | $3,057 | $285,058 | $95,650 | $189,408 |
| 2018 | $2,997 | $279,470 | $93,775 | $185,695 |
| 2017 | $2,938 | $273,991 | $91,937 | $182,054 |
| 2016 | $2,880 | $268,620 | $90,135 | $178,485 |
| 2015 | $2,836 | $264,586 | $88,782 | $175,804 |
| 2014 | $2,604 | $259,404 | $87,043 | $172,361 |
Source: Public Records
Agents Affiliated with this Home
-
Jennifer Dawson
-
Heather Roda
Seller Co-Listing Agent in 2024
Heather Roda
Platinum Properties
(805) 610-9270
2 in this area
192 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NS23171047
APN: 066-312-009
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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