Well-Maintained Triplex with Ocean
For Sale
$2,150,000
Pending
31 8th St, Cayucos, CA 93430
Spacious two-story triplex with bright living areas, in-unit laundry space, and private ocean-view deck from a front bedroom.
Property Size3,432 SF
Lot Size0.18 Acres
Days on Market104
Property Features for 31 8th St
General Information
Standard status
Pending
Size
3,432 SF
Lot size
0.18 Acres
Property subtype
Investment
Additional Details
Multifamily Units
3
Building Details
Building Size
3,432 SF
Year Built
1960
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Dale Kaiser Real Estate
(805) 995-2900
Listed By:
Gail Riley · License #00843876
(805) 995-2900
Source:
Elliman
Added: May 12
Changed: Aug 7
Last Checked: Jul 23 at 8:08AM
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 Dale Kaiser Real Estate
Investment Insights
Based on property information with market context.
A well-maintained triplex featuring two-story floor plans with bright, open living rooms filled with natural light. Each unit offers a kitchen and dining area with quality cabinetry, countertops, and appliances, along with a convenient laundry area and a three-quarter bath nearby. The expansive living room provides flexibility for layout preferences, including space that can support formal dining. Upstairs, each unit includes two comfortable bedrooms and a full bath. The front bedroom opens to a private deck with ocean views, which can also function as a home office or creative space.
The property is set on two 40-by-100 lots totaling 8,000 square feet, with the numbered streets real property configuration. It is located near Pacific Ave and two coastal access points, supporting the coastal lifestyle appeal of the setting. Detached garages and additional parking add to day-to-day functionality for residents.
The combination of generous two-story layouts, outdoor deck access with ocean views, and on-site parking supports both comfortable ownership and long-term usability across the triplex configuration.
The property is set on two 40-by-100 lots totaling 8,000 square feet, with the numbered streets real property configuration. It is located near Pacific Ave and two coastal access points, supporting the coastal lifestyle appeal of the setting. Detached garages and additional parking add to day-to-day functionality for residents.
The combination of generous two-story layouts, outdoor deck access with ocean views, and on-site parking supports both comfortable ownership and long-term usability across the triplex configuration.
Key Highlights
- Well‑maintained 3‑unit triplex built in 1960 with two‑story floor plans
- Two 40‑by‑100 lots totaling 8,000 sq ft
- Bright, open living rooms in each unit with 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
$71,764
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
3.34%
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%
$1,435,280
$1.4M
Cap Rate 7%
$1,025,200
$1.0M
Cap Rate 9%
$797,378
$797.4K
Market Conditions
NOI Build-Up for 3,432 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
$105.0K $30.60/SF
− Vacancy
−$2.5K −$0.73/SF
EGI
$102.5K $29.87/SF
− OpEx
−$30.8K −$8.96/SF
NOI
$71.8K $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%
$1,435,280
Cap Rate 7%
$1,025,200
Cap Rate 9%
$797,378
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$897.1K – $1.20M
NOI $71,764 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$946.5K
$828.2K – $1.10M
NOI $66,255 @ 7.0% cap · market cap 3.08%
Theoretical Best
Healthcare Medical
$1.35M
$1.18M – $1.57M
NOI $94,483 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 93430, CA
2,849
Population
2,707
Households
1.1
Avg Household Size
57
Median Age
43%
College-Educated
96%
High-School Grad
71.7 sq mi
ZIP Area
40
Density / Sq Mi
$86,354
Median Household Income
$50,409
Median Earnings
$1,571
Median Rent
$965,100
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?
Triplex - Spacious two-story triplex with bright living areas, in-unit laundry space, and private ocean-view deck from a front bedroom.
Where is this triplex located?
The property is located at 31 8th St Cayucos, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Well‑maintained 3‑unit triplex built in 1960 with two‑story floor plans; Two 40‑by‑100 lots totaling 8,000 sq ft; Bright, open living rooms in each unit with natural light
