Rare investment and development opportunity. Fully approved 5 lot subdivision in Morro Bay's most highly regarded beachside neighborhood, The Cloisters. The one-acre parcel located west of Hwy 1 is ready for improvement. Featured nationally in Coastal Living magazine, The Cloisters encompasses 84 acres, with 57 acres of open space preserve, a one-acre public park, and over two miles of paved trails, including beach access. Upon the initial offering, all 120 homes and sites at the Cloisters sold out quickly. Now, a once-in-a-lifetime opportunity opens up again. Sale includes a full set of approved architectural plans, landscape plans, construction documents, Coastal Commission approval, and permits - good through February 2025. Demand for single-family homes in this beachside community is high so take advantage of this favorable time, and be a part of history!