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 Show Phone

Source: Evrealestate

Added: Sep 15 Changed: Sep 27 Last Checked: Oct 7 at 12:23PM

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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 / Yr

$95,328

Cap Rate

4.33%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

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

Apartment buildings

Suggested Use

Top Pick Hair Salon Law Firm Spa & Massage Center Nail Salon Pharmacy (Bike/Boat/Book/etc) Store

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

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

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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What type of property is this? Where is this apartment buildings 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?

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