Renovated Ocean-View
184 Birch Ave, Cayucos, CA 93430
For Sale
$2,199,000
Three updated residences offer ocean views, private laundry, dedicated parking, and a combination of short- and long-term rental use.
Property Size3,080 SF
Days on Market49
Property Features for 184 Birch Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Parking per Unit
Amenities
ocean views
private in-unit laundry
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listed By:
Kristina Kidwell
Source:
Elliman
Added: Sep 19
Changed: Nov 3
Last Checked: Nov 6 at 10:24AM
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 Kristina Kidwell
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Investment Insights
Based on property information with market context.
Built in 1984, this renovated triplex contains three two-bedroom residences with ocean views, private in-unit laundry, and two dedicated parking spaces per unit. Units 1 and 2 each include two full bathrooms, while Unit 3 has two-and-a-half baths. All three residences have been updated, supporting a flexible configuration for residential occupancy and rental use.
One residence is operated as a short-term rental, while the other two are established as long-term rentals. The property is located at 184 Birch Avenue in Cayucos, three blocks from the Cayucos Pier and near downtown. WalkScore is 64 and BikeScore is 38, reflecting a somewhat walkable and somewhat bikeable setting.
One residence is operated as a short-term rental, while the other two are established as long-term rentals. The property is located at 184 Birch Avenue in Cayucos, three blocks from the Cayucos Pier and near downtown. WalkScore is 64 and BikeScore is 38, reflecting a somewhat walkable and somewhat bikeable setting.
Key Highlights
- Three two‑bedroom residences in a single triplex
- Ocean views from all three residences
- Two dedicated parking spaces per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,403
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,060
$1.3M
Cap Rate 7%
$920,043
$920.0K
Cap Rate 9%
$715,589
$715.6K
Market Conditions
NOI Build-Up for 3,080 SF
Gross rent
$94.2K $30.60/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$92.0K $29.87/SF
− OpEx
−$27.6K −$8.96/SF
NOI
$64.4K $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%
$1,288,060
Cap Rate 7%
$920,043
Cap Rate 9%
$715,589
Alternative Uses
Best Use
Multifamily LT 5
$920.0K
$805.0K – $1.07M
NOI $64,403 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$849.4K
$743.2K – $991.0K
NOI $59,459 @ 7.0% cap · market cap 2.70%
Theoretical Best
Healthcare Medical
$1.21M
$1.06M – $1.41M
NOI $84,792 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
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Business Placement
Demographics for 93430, CA
2,849
Population
2,707
Households
1.1
Avg Household Size
57
Median Age
43%
College-Educated
96%
High-School Grad
71.7 sq mi
ZIP Area
40
Density / Sq Mi
$86,354
Median Household Income
$50,409
Median Earnings
$1,571
Median Rent
$965,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated residences offer ocean views, private laundry, dedicated parking, and a combination of short- and long-term rental use.
Where is this triplex located?
The property is located at 184 Birch Ave Cayucos, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Three two‑bedroom residences in a single triplex; Ocean views from all three residences; Two dedicated parking spaces per unit
