2-Unit Single-Level
183 N Elm, Arroyo Grande, CA 93420
For Sale
New
$795,000
Arroyo Grande, CA
Property Size1,800 SF
Lot Size0.18 Acres
Price / SF$441.67
Days on Market4
Property Features for 183 N Elm
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Fireplace
Lot features
Directions
Subdivision
Standard status
APN
Lot size
Utilities
Sewer type
Water source
Amenities
stone fireplace
ceiling fans
large grassy backyard
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
eXp Realty of California, Inc.
(888) 584-9427
Listed By:
Jay Bond · License CA #01823529
(805) 709-4027
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 14 at 12:06AM
MLS# PI26242531
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex contains two single-level residences with matching layouts, totaling approximately 1,800 square feet. Each unit has two bedrooms, one-and-a-half baths, a stone fireplace, and an attached garage. The vacant unit has updated flooring, paint, kitchen cabinetry, ceiling fans, and bathrooms. The second residence retains the same floor plan and has not received those updates.
A dining-area slider in the vacant unit opens to a grassy backyard enclosed by a block wall. The property also has a private driveway for off-street parking. Public water and public sewer serve the site. Shopping, schools, the Village, beaches, and Hwy 101 are nearby.
A dining-area slider in the vacant unit opens to a grassy backyard enclosed by a block wall. The property also has a private driveway for off-street parking. Public water and public sewer serve the site. Shopping, schools, the Village, beaches, and Hwy 101 are nearby.
Key Highlights
- Two matching single‑level units totaling approximately 1,800 square feet
- Each unit has 2 bedrooms, 1.5 baths, a stone fireplace, and an attached garage
- Vacant unit updated with luxury vinyl plank flooring, fresh paint, gray shaker cabinets, ceiling fans, and remodeled bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,638
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$752,760
$752.8K
Cap Rate 7%
$537,686
$537.7K
Cap Rate 9%
$418,200
$418.2K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$55.1K $30.60/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$53.8K $29.87/SF
− OpEx
−$16.1K −$8.96/SF
NOI
$37.6K $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%
$752,760
Cap Rate 7%
$537,686
Cap Rate 9%
$418,200
Alternative Uses
Best Use
Multifamily LT 5
$537.7K
$470.5K – $627.3K
NOI $37,638 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$496.4K
$434.4K – $579.2K
NOI $34,749 @ 7.0% cap · market cap 4.37%
Theoretical Best
Healthcare Medical
$707.9K
$619.4K – $825.9K
NOI $49,554 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 93420, CA
30,540
Population
13,823
Households
2.2
Avg Household Size
49
Median Age
44%
College-Educated
95%
High-School Grad
197.4 sq mi
ZIP Area
155
Density / Sq Mi
$106,718
Median Household Income
$51,990
Median Earnings
$2,025
Median Rent
$872,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in San Luis Obispo County, CA
Properties on Market for Duplexes in San Luis Obispo County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature two bedrooms, one-and-a-half baths, an attached garage, and a stone fireplace.
Where is this duplex located?
The property is located at 183 N Elm Arroyo Grande, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two matching single‑level units totaling approximately 1,800 square feet; Each unit has 2 bedrooms, 1.5 baths, a stone fireplace, and an attached garage; Vacant unit updated with luxury vinyl plank flooring, fresh paint, gray shaker cabinets, ceiling fans, and remodeled bathrooms
