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New
For Sale
$1,299,999
2630 Maple Ave, Morro Bay, CA 93442
Two separate residences include remodeled baths, a kitchenette, full kitchen, decks, and outdoor entertaining areas.
Property Size2,024 SF
Price / SF$642.29
Days on Market6
Property Features for 2630 Maple Ave
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
drought-tolerant landscaping
outdoor living spaces
gas fireplace
sunroom
private deck
backyard patio with fire pit
enclosed upper deck
two front decks
indoor laundry room
Building Details
Year Built
1988
Listing Agency:
Independent Broker Network
(559) 733-4100
Listed By:
Robyn Icenhower · License #01810074
Source:
Livebre
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 1:14AM
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 Independent Broker Network
Investment Insights
Based on property information with market context.
This 2,024-square-foot duplex, built in 1988, is arranged as two distinct living spaces. 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, vaulted-ceiling living room, dining area, full kitchen, and indoor laundry. Multiple decks, a backyard courtyard, raised sitting area, patio, and fire pit extend the usable living space outdoors.
Both residences feature views of Morro Rock and the Pacific Ocean. The property is located in Morro Bay, minutes from beaches, the waterfront, shops, restaurants, and outdoor recreation. The configuration also includes an elevated entry and drought-tolerant landscaping.
Both residences feature views of Morro Rock and the Pacific Ocean. The property is located in Morro Bay, minutes from beaches, the waterfront, shops, restaurants, and outdoor recreation. The configuration also includes an elevated entry and drought-tolerant landscaping.
Key Highlights
- 2,024‑square‑foot duplex with two separate residences
- Upper residence offers 2 bedrooms, 2 bathrooms, kitchenette, sunroom, gas fireplace, and private deck
- Lower residence includes 1 bedroom, 1 bathroom, full kitchen, vaulted ceilings, and indoor laundry
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 separate residences include remodeled baths, a kitchenette, full kitchen, decks, and outdoor entertaining areas.
Where is this duplex located?
The property is located at 2630 Maple Ave 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: 2,024‑square‑foot duplex with two separate residences; Upper residence offers 2 bedrooms, 2 bathrooms, kitchenette, sunroom, gas fireplace, and private deck; Lower residence includes 1 bedroom, 1 bathroom, full kitchen, vaulted ceilings, and indoor laundry
