Apartment Building with
For Sale
$2,200,000
1570 Lakeside, Oceano, CA 93445
The 1984 property has wood exterior construction and wall-furnace heating.
Property Size4,938 SF
Days on Market12
Property Features for 1570 Lakeside
General Information
Standard status
Active
Size
4,938 SF
Total Parking Spaces
12
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Amenities
Fishing
Wall Furnace
Wood
Carport
Building Details
Building Size
4,938 SF
Year Built
1984
Buildings
3
Stories
2
Listing Agency:
Mid-State Realty
Listed By:
David Gray · License #00663517
(805) 543-1500
Source:
Evrealestate
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 26 at 11:39AM
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 Mid-State Realty
Investment Insights
Based on property information with market context.
This apartment building dates to 1984 and features wood exterior construction, wall-furnace heating, and a carport. It is located at 1570 Lakeside in Oceano, within San Luis Obispo County.
Key Highlights
- Built in 1984
- Carport on site
- Wall‑furnace heating
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
$95,328
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
4.33%
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%
$1,906,560
$1.9M
Cap Rate 7%
$1,361,829
$1.4M
Cap Rate 9%
$1,059,200
$1.1M
Market Conditions
NOI Build-Up for 4,938 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
$177.8K $36.00/SF
− Vacancy
−$4.4K −$0.90/SF
EGI
$173.3K $35.10/SF
− OpEx
−$78.0K −$15.80/SF
NOI
$95.3K $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%
$1,906,560
Cap Rate 7%
$1,361,829
Cap Rate 9%
$1,059,200
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,328 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.94M
$1.70M – $2.27M
NOI $135,943 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
200
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The 1984 property has wood exterior construction and wall-furnace heating.
Where is this apartment building located?
The property is located at 1570 Lakeside Oceano, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Built in 1984; Carport on site; Wall‑furnace heating
