Building Details

Building Size 2,396 SF

Year Built 1981

Buildings 2

Listing Agency: Comet Realty Show Phone

Listed By: Travis Holderness · License #02179554

Source: Stableproperties

Added: Sep 7 Changed: Oct 31 Last Checked: Oct 31 at 2:22PM

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Investment Insights

Based on property information with market context.

This 2,396-SF duplex property comprises two detached residences on one lot. The front home offers two bedrooms, an open living and kitchen area with a breakfast bar, private decks, laundry, and air conditioning. The separate rear home has three bedrooms, a kitchen that opens to the living area, individual decks, laundry, and air conditioning. Its own entrance, driveway, carport, and alley access provide independent access; the homes have no interior connection.

The gated grounds include patios, landscaped areas, and storage sheds. The property is in downtown Santa Margarita, near the elementary school, library, market, restaurants, and wine tasting rooms, and approximately 15 minutes from San Luis Obispo.

Key Highlights

• Two detached homes on one lot, totaling 2,396 SF
• Front residence has 2 bedrooms; rear residence has 3 bedrooms
• Each home includes its own laundry and air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,101

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,002,020 $1.0M

Cap Rate 7%

$715,729 $715.7K

Cap Rate 9%

$556,678 $556.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,396 SF

Gross rent

$73.3K $30.60/SF

− Vacancy

−$1.7K −$0.73/SF

EGI

$71.6K $29.87/SF

− OpEx

−$21.5K −$8.96/SF

NOI

$50.1K $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%

$1,002,020

Cap Rate 7%

$715,729

Cap Rate 9%

$556,678

Alternative Uses

Best Use

Multifamily LT 5

$715.7K

$626.3K – $835.0K (±1% cap)

NOI $50,101 @ 7.0% cap · market cap 5.60%

Second Best

Apartment 5plus

$660.8K

$578.2K – $770.9K (±1% cap)

NOI $46,255 @ 7.0% cap · market cap 5.17%

Theoretical Best

Healthcare Medical

$942.3K

$824.5K – $1.10M (±1% cap)

NOI $65,962 @ 7.0% cap · market cap 7.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 93453, CA

3,045

Population

1,151

Households

2.6

Avg Household Size

45

Median Age

39%

College-Educated

99%

High-School Grad

691.4 sq mi

ZIP Area

4

Density / Sq Mi

$70,288

Median Household Income

$43,665

Median Earnings

$638

Median Rent

$720,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Each residence has its own laundry and air conditioning, with no shared interior connection.

Where is this duplex located?

The property is located at 22363 H Santa Margarita, CA.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: Two detached homes on one lot, totaling 2,396 SF; Front residence has 2 bedrooms; rear residence has 3 bedrooms; Each home includes its own laundry and air conditioning