Listing Agency: NextHome Central Coast Show Phone

Listed By: Rachel Bielanski Show Phone

Source: Kaleorealestate

Added: Oct 4 Last Checked: Oct 7 at 11:51AM

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Investment Insights

Based on property information with market context.

This manufactured home offers two bedrooms and two bathrooms, with new wood flooring. The property includes share ownership in the land and is located within a 55+ community. Park management approval is required for the buyer.

Residents have access to a clubhouse and swimming pool. The home is a short drive from the beach.

Key Highlights

• Two bedrooms and two bathrooms
• New wood flooring
• Share ownership in the land

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,027

Cap Rate

6.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$540,540 $540.5K

Cap Rate 7%

$386,100 $386.1K

Cap Rate 9%

$300,300 $300.3K

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$50.4K $36.00/SF

− Vacancy

−$1.3K −$0.90/SF

EGI

$49.1K $35.10/SF

− OpEx

−$22.1K −$15.80/SF

NOI

$27.0K $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 Rate 5%

$540,540

Cap Rate 7%

$386,100

Cap Rate 9%

$300,300

Alternative Uses

Best Use

Apartment 5plus

$386.1K

$337.8K – $450.5K (±1% cap)

NOI $27,027 @ 7.0% cap · market cap 6.84%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$550.6K

$481.8K – $642.4K (±1% cap)

NOI $38,542 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Cienaga Seabreeze Campground & RV Park Boyer's Beach House Housing Complex

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Dental Office Spa & Massage Center Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

178

Businesses Nearby

Explore this area Business Placement

Demographics for 93445, CA

7,040

Population

3,285

Households

2.1

Avg Household Size

40

Median Age

18%

College-Educated

79%

High-School Grad

17.0 sq mi

ZIP Area

414

Density / Sq Mi

$75,012

Median Household Income

$34,594

Median Earnings

$1,450

Median Rent

$538,200

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - Share ownership of the land accompanies residence in a 55+ community with a clubhouse and swimming pool.

Where is this residential income property located?

The property is located at 2300 Cienaga St SPC 11 Oceano, CA.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: Two bedrooms and two bathrooms; New wood flooring; Share ownership in the land