Classic Morro Bay bungalow with built-in flexibility just minutes from the coast. The main home offers 2 bedrooms, 1 bathroom, and approximately 884± sq ft of living space, with a functional layout, natural light, and that original 1950s character throughout. Out back, a detached studio adds serious versatility—ideal for rental income, guests, extended family, or a private workspace. With its own setup and separation from the main home, it opens up multiple use options that are hard to find at this price point. Set on a roughly 3,500± sq ft lot, the property offers both front and backyard space, plus a patio area for outdoor living. Located in an established Morro Bay neighborhood with easy access to downtown, the Embarcadero, and local beaches. Opportunities like this don’t come around often in Morro Bay. If you’re looking for flexibility, strong income history, or just a smart long-term hold, this one is worth a look.