Duplex With Detached
For Sale
$735,000
1011 West Harding Avenue, Santa Maria, CA 93458
Two separate residential units provide a main home and permitted accessory dwelling with independent bedroom and bath configurations.
Property Size1,300 SF
Price / SF$565.38
Days on Market151
Property Features for 1011 West Harding Avenue
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family / Multi Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
Other Heat, Wall Furnace
Other
No
Slab
Yes
2
4
Dual Pn Windows
2.0
Composition
1
Stucco
Fenced, Patio
Sidewalks
Slab, None
Patio
Building Details
Year Built
1962
Buildings
2
Listing Agency:
Modern Nest Realty, Inc.
(805) 925-5901
Listed By:
Bonnie Doyal · License #01917290
(805) 925-5901
Source:
Compass
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 11:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Modern Nest Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex property includes a 1,300-square-foot main residence with four bedrooms and two bathrooms. A detached, permitted accessory dwelling unit adds 740 square feet, along with two bedrooms and one bathroom; the ADU was constructed in 2020.
The property offers alley access and includes fencing, patios, and sidewalks. Located in Santa Maria, the site combines two separate residential structures with distinct layouts for multifamily ownership or occupancy needs.
The property offers alley access and includes fencing, patios, and sidewalks. Located in Santa Maria, the site combines two separate residential structures with distinct layouts for multifamily ownership or occupancy needs.
Key Highlights
- 1,300‑square‑foot main house with 4 bedrooms and 2 bathrooms
- Detached permitted 740‑square‑foot ADU built in 2020
- ADU includes 2 bedrooms and 1 bathroom
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
$21,735
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
2.96%
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%
$434,700
$434.7K
Cap Rate 7%
$310,500
$310.5K
Cap Rate 9%
$241,500
$241.5K
Market Conditions
NOI Build-Up for 1,300 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
$32.8K $25.20/SF
− Vacancy
−$1.7K −$1.32/SF
EGI
$31.0K $23.88/SF
− OpEx
−$9.3K −$7.17/SF
NOI
$21.7K $16.72/SF
Area
Santa Maria, CA
Vacancy
5.22%
Lease Rate
$25.20 /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%
$434,700
Cap Rate 7%
$310,500
Cap Rate 9%
$241,500
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.3K
NOI $21,735 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$269.9K
$236.2K – $314.9K
NOI $18,892 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$439.3K
$384.4K – $512.5K
NOI $30,751 @ 7.0% cap · market cap 4.18%
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
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 93458, CA
59,927
Population
14,433
Households
4.2
Avg Household Size
28
Median Age
9%
College-Educated
50%
High-School Grad
28.4 sq mi
ZIP Area
2,110
Density / Sq Mi
$73,518
Median Household Income
$30,278
Median Earnings
$1,825
Median Rent
$460,300
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 separate residential units provide a main home and permitted accessory dwelling with independent bedroom and bath configurations.
Where is this duplex located?
The property is located at 1011 West Harding Avenue Santa Maria, CA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 1,300‑square‑foot main house with 4 bedrooms and 2 bathrooms; Detached permitted 740‑square‑foot ADU built in 2020; ADU includes 2 bedrooms and 1 bathroom
