UPDATE (10:23 a.m.) - The Morro Bay Police Department says authorities have arrested 53-year-old Sean Maneely of Morro Bay on suspicion of stabbing 58-year-old Andrew McTaggart II of Morro Bay Saturday afternoon on the 1100 block of Allesandro Avenue in Morro Bay.
In a press release, officials say police officers booked Maneely into the San Luis Obispo County Jail on one count of homicide.
Anyone who has any information regarding this incident is asked to contact the Morro Bay Police Department.
UPDATE (7:16 p.m) - Morro Bay police say one man has died after he was stabbed at the Morro Bay Self Storage System.
Chief Jody Cox tells KSBY a white male in his 50's was stabbed after he was involved in an altercation with another male in his 50's.
The man was transported to the hospital where he later died from his injuries.
Police say it's still unclear what the argument was about, but are remaining on scene to look through storage units for more evidence.
The suspect has been detained and is going to be investigated by police for possible homicide charges, according to officials.
Both men are from the area and are familiar with each other, according to police.
UPDATE (5:30 p.m.) - Police have blocked off the entrance of the Morro Bay Self Storage System located on the 1100 block of Allesandro St.
The manager at the storage facility tells KSBY the stabbing happened there, however, we have not yet been able to confirm that with authorities.
ORIGINAL STORY (4:26 p.m.) - Police are responding to reports of a stabbing in Morro Bay.
Morro Bay police say it happened on Allesandro St.
Very little details are known at this time.
This is a developing story, check back later for details.