Two-Home Residential Income
For Sale
$1,195,000
1499 Farroll, Grover Beach, CA 93433
Two private homes sit on flat, fenced land with extensive parking and multiple garages plus RV parking and hook-ups.
Property Size2,123 SF
Lot Size0.83 Acres
Days on Market143
Property Features for 1499 Farroll
General Information
Standard status
Active
Size
2,123 SF
Lot size
0.83 Acres
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Building Details
Building Size
2,123 SF
Year Built
1947
Stories
1
Units
2
Listing Agency:
Auer Real Estate Inc.
Listed By:
Brenda Auer · License #01310530
(805) 801-6694
Source:
Elliman
Added: Jun 1
Changed: Oct 18
Last Checked: Oct 20 at 8:46PM
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 Auer Real Estate Inc.
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Investment Insights
Based on property information with market context.
This residential income property features two private homes on flat, usable, fenced land. The main home is a 3-bedroom residence with a large bonus room, and a separate second home provides 2 bedrooms. The configuration also allows for additional space, including the option to add homes or other structures, subject to city review.
The property includes substantial parking infrastructure with 5 garages, along with RV parking and hook-ups. It is located less than two miles from the beach, and basic services such as grocery stores, gas stations, schools, parks, and auto-related services are within a mile radius.
Outside of the existing two-home setup, buyers should confirm with the city how many additional homes or ADUs may be added.
The property includes substantial parking infrastructure with 5 garages, along with RV parking and hook-ups. It is located less than two miles from the beach, and basic services such as grocery stores, gas stations, schools, parks, and auto-related services are within a mile radius.
Outside of the existing two-home setup, buyers should confirm with the city how many additional homes or ADUs may be added.
Key Highlights
- Two private homes on flat, fenced 36,155 sq ft lot with extensive parking and 5 garages
- RV parking with hook‑ups available
- Main home features 3 bedrooms plus a large bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,392
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$887,840
$887.8K
Cap Rate 7%
$634,171
$634.2K
Cap Rate 9%
$493,244
$493.2K
Market Conditions
NOI Build-Up for 2,123 SF
Gross rent
$65.0K $30.60/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$63.4K $29.87/SF
− OpEx
−$19.0K −$8.96/SF
NOI
$44.4K $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 Rate 5%
$887,840
Cap Rate 7%
$634,171
Cap Rate 9%
$493,244
Alternative Uses
Best Use
Multifamily LT 5
$634.2K
$554.9K – $739.9K
NOI $44,392 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$585.5K
$512.3K – $683.1K
NOI $40,985 @ 7.0% cap · market cap 3.43%
Theoretical Best
Healthcare Medical
$834.9K
$730.6K – $974.1K
NOI $58,446 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
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Business Placement
Demographics for 93433, CA
12,643
Population
5,757
Households
2.2
Avg Household Size
42
Median Age
27%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
5,747
Density / Sq Mi
$82,534
Median Household Income
$39,412
Median Earnings
$1,921
Median Rent
$691,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two private homes sit on flat, fenced land with extensive parking and multiple garages plus RV parking and hook-ups.
Where is this duplex located?
The property is located at 1499 Farroll Grover Beach, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two private homes on flat, fenced 36,155 sq ft lot with extensive parking and 5 garages; RV parking with hook‑ups available; Main home features 3 bedrooms plus a large bonus room
