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    Oceano Multifamily Investment Opportunity Title is generated by Realmo AI

    1960 Beach Street, Oceano, CA 93445

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    Claim this Listing
    For Sale
    Under Contract
    $1,800,000

    Apartment - Oceano, CA

    Type:Apartment
    Property size:
    5,500 SF
    Lot size:
    14,000.00 Acres
    Price / SF:
    $327/SF
    Added:
    Jan 8, 2026
    Days on Market:
    147
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 1960 Beach Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Parking
    14
    Parking features
    Garage
    Interior features
    None
    Exterior features
    Community Features Included: Suburban, Rectangular Lot
    Appliances
    Oven - Gas, Range, Range - Gas, Refrigerator
    Standard status
    Active Under Contract
    APN
    062114018
    Size
    5,500 SF
    Lot size
    14,000.00 Acres

    Utilities

    Heating system
    Wall Furnace
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1989
    Floors in Building
    2
    Number of units
    10
    Flooring type
    Carpet
    Architectural style
    Other

    We can help!

    Listing Contact
    Vincent Allan

    Listing agent Vincent Allan License #01421798

    Listing office Allan Real Estate Investments 135 N. Halcyon, Arroyo Grande, CA

    Listing date Jan 8, 2026

    MLS# PI26001043 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 10‑unit multifamily property in a convenient Oceano location, roughly one mile from the beach and near Central Market.
    • Comprised of four buildings across two separate lots totaling 14,000 SF.
    • Includes two detached 2BD/1BA homes with single‑car garages and in‑home laundry hookups.
    • Features eight additional apartment‑over‑garage units with separately rented garages for extra income.
    • Streamlined operations with separately metered units and on‑site coin‑operated laundry rooms.
    • Projected 2025 gross income of $147,000.

    Overview

    Located in Oceano, behind Central Market and approximately one mile from the beach, this multifamily property features 10 units across four buildings on two separate lots totaling 14,000 square feet. Each lot includes a detached home with two bedrooms and one bathroom, a single-car garage, and in-home laundry hookups. Additionally, there are apartment-over-garage units, with a total of eight units above garage rows, four on each side. Additional garages are rented separately for extra income. The property has separately metered units. The owner pays for water and trash. There are house meters for common-area lights and two on-site coin-operated laundry rooms. Units include gas cooking, gas wall heaters, and refrigerators. The property is expected to generate a gross income of $147,000 in 2025.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $198.0k $36.00
    − Vacancy −$5.0k −$0.90
    EGI $193.1k $35.10
    − OpEx −$86.9k −$15.80
    NOI $106.2k $19.31
    5,500 SF · lease $36.00/SF/yr · vacancy 2.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.52M
    $1.33M – $1.77M (±1% cap)
    NOI $106,178 @ 7.0% cap · market cap 5.90%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Healthcare Medical
    $2.16M
    $1.89M – $2.52M (±1% cap)
    NOI $151,415 @ 7.0% cap · market cap 8.41%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oceano
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.6100943
    Latitude
    35.0990018

    Nearby Similar for Sale

    • $689,900

      Oceano Multifamily Opportunity: Two Homes

      Two homes on one lot near the beach in Oceano.
      2011 Paso Robles, Oceano, CA 93445
      View Details
    • $1,800,000

      Oceano Multifamily Investment Opportunity

      Ten-unit multifamily property near Central Market and Oceano beach.
      1960 Beach Street, Oceano, CA 93445
      View Details

    FAQs

    What type of property is this?
    Apartment building - 10-unit multifamily property near the beach in Oceano, California.
    Where is this apartment building located?
    The property is located at 1960 Beach Street Oceano, CA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: 10‑unit multifamily property in a convenient Oceano location, roughly one mile from the beach and near Central Market.; Comprised of four buildings across two separate lots totaling 14,000 SF.; Includes **two detached 2BD/1BA homes with single‑car garages and in‑home laundry hookups.**
    (805) 459-0339
    We can help!
    Listing Contact
    Vincent Allan
    Real Estate License ID: 01421798
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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