Coastal Duplex with Ocean
For Sale
$1,299,999
2630 Maple Avenue, Morro Bay, CA 93442
Multi-Family, Morro Bay, CA
Property Size2,024 SF
Lot Size0.09 Acres
Price / SF$642.29
Days on Market25
Property Features for 2630 Maple Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage
Patio and Porch features
Deck
Fireplace
1
Directions
take the Morro Bay Blvd exit and head west toward Morro Bay. Turn left onto Main St, then right onto Quintana Rd. Continue onto Main St, turn left onto Highway 1 (Main St), then right onto Maple Ave
Subdivision
California
Standard status
Active
APN
068252043
Size
2,024 SF
Lot size
0.09 Acres
Amenities
fire pit
deck
courtyard
gas fireplace
indoor laundry
Building Details
Floors in Building
2
Listing Agency:
Independent Broker Network
(559) 769-8990
Listed By:
Robyn E Icenhower · License #01810074
(559) 786-3109
Added: Aug 6
Changed: Aug 26
Last Checked: Aug 30 at 4:06PM
MLS# 234751
Copyright © 2026 Kings County Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 2,024 square feet across two separate living areas on a 0.0918-acre parcel. The upper residence includes two bedrooms, two bathrooms, a living room, kitchenette, gas fireplace, remodeled bathrooms, sunroom, and private bedroom deck. The lower residence provides one bedroom, one bathroom, a living room with vaulted ceilings, dining area, full kitchen, and indoor laundry.
Multiple decks, a backyard courtyard, patio, and raised seating area extend the usable living space outdoors. Views include the Pacific Ocean and Morro Rock, while a garage provides on-site parking. The property is located minutes from Morro Bay beaches, the waterfront, shops, restaurants, and outdoor recreation.
Multiple decks, a backyard courtyard, patio, and raised seating area extend the usable living space outdoors. Views include the Pacific Ocean and Morro Rock, while a garage provides on-site parking. The property is located minutes from Morro Bay beaches, the waterfront, shops, restaurants, and outdoor recreation.
Key Highlights
- Duplex with 2,024 square feet of living area
- 0.0918‑acre parcel in Morro Bay
- Upper residence: 2 bedrooms, 2 bathrooms, kitchenette, sunroom, fireplace, and private deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,322
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$846,440
$846.4K
Cap Rate 7%
$604,600
$604.6K
Cap Rate 9%
$470,244
$470.2K
Market Conditions
NOI Build-Up for 2,024 SF
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.
Gross rent
$61.9K $30.60/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$60.5K $29.87/SF
− OpEx
−$18.1K −$8.96/SF
NOI
$42.3K $20.91/SF
Area
San Luis Obispo County, CA
Vacancy
2.38%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$846,440
Cap Rate 7%
$604,600
Cap Rate 9%
$470,244
Alternative Uses
Best Use
Multifamily LT 5
$604.6K
$529.0K – $705.4K
NOI $42,322 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$558.2K
$488.4K – $651.2K
NOI $39,073 @ 7.0% cap · market cap 3.01%
Theoretical Best
Healthcare Medical
$796.0K
$696.5K – $928.7K
NOI $55,721 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 93442, CA
11,390
Population
6,537
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
93%
High-School Grad
44.5 sq mi
ZIP Area
256
Density / Sq Mi
$92,163
Median Household Income
$50,651
Median Earnings
$1,815
Median Rent
$870,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate kitchens, outdoor spaces, and views toward the Pacific Ocean.
Where is this duplex located?
The property is located at 2630 Maple Avenue Morro Bay, CA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Duplex with 2,024 square feet of living area; 0.0918‑acre parcel in Morro Bay; Upper residence: 2 bedrooms, 2 bathrooms, kitchenette, sunroom, fireplace, and private deck
