For Sale
$489,000
122-201 Five Cities Dr, Pismo Beach, CA 93449
Mobile home & RV parks
Property Size1,511 SF
Price / SF$323.63
Days on Market55
Property Features for 122-201 Five Cities Dr
General Information
Standard status
Active
Size
1,511 SF
Property subtype
Manufactured In Park
Listing Agency:
Taylor Hoving Realty Group
(805) 471-2263
Listed By:
Jill Jackson
(805) 471-2263
Source:
Exprealty
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 30 at 8:22PM
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 Taylor Hoving Realty Group
Investment Insights
Based on property information with market context.
Key Highlights
- 55+ Hacienda Del Pismo manufactured home near the end of a quiet cul‑de‑sac
- 2 bedrooms, 2 baths plus a spacious bonus room that can serve as a 3rd bedroom, office, hobby room, or den
- Approximately 1,511 SF with multiple skylights for added natural light
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
$29,170
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
5.97%
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%
$583,400
$583.4K
Cap Rate 7%
$416,714
$416.7K
Cap Rate 9%
$324,111
$324.1K
Market Conditions
NOI Build-Up for 1,511 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
$54.4K $36.00/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$53.0K $35.10/SF
− OpEx
−$23.9K −$15.80/SF
NOI
$29.2K $19.31/SF
Area
San Luis Obispo County, CA
Vacancy
2.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$583,400
Cap Rate 7%
$416,714
Cap Rate 9%
$324,111
Alternative Uses
Best Use
Apartment 5plus
$416.7K
$364.6K – $486.2K
NOI $29,170 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$594.3K
$520.0K – $693.3K
NOI $41,598 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 93449, CA
8,096
Population
6,060
Households
1.3
Avg Household Size
55
Median Age
50%
College-Educated
98%
High-School Grad
9.9 sq mi
ZIP Area
818
Density / Sq Mi
$112,913
Median Household Income
$62,440
Median Earnings
$2,298
Median Rent
$992,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this mobile home & rv park located?
The property is located at 122-201 Five Cities Dr Pismo Beach, CA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 55+ Hacienda Del Pismo manufactured home near the end of a quiet cul‑de‑sac; 2 bedrooms, 2 baths plus a spacious bonus room that can serve as a 3rd bedroom, office, hobby room, or den; Approximately 1,511 SF with multiple skylights for added natural light
