Building Details

Year Built 1981

Buildings 2

Listing Agency: Comet Realty

Listed By: Timothy David Townley Show Phone

Source: Santaynezvalleyhomesforsale

Added: Sep 6 Changed: Sep 11 Last Checked: Sep 12 at 10:28AM

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Investment Insights

Based on property information with market context.

This 2,396-square-foot duplex includes two fully detached residences on one lot, each with its own entrance, laundry, and air conditioning. The front home provides two bedrooms, an open living and kitchen arrangement with a breakfast bar, private decks, and a long driveway. The rear residence includes three bedrooms, a kitchen connected to the living area, multiple decks, a private driveway, carport, and alley access. Both homes are arranged independently without an interior connection.

The gated property also includes landscaped outdoor areas, patios, decks, and storage sheds. It was built in 1981 and is located at 22363 H St Unit A in Santa Margarita, near the elementary school, library, local market, restaurants, and wine tasting rooms. San Luis Obispo is approximately 15 minutes away.

Key Highlights

• Two fully detached homes on one lot
• 2,396 square feet built in 1981
• Front residence includes 2 bedrooms and private decks

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

$50,101

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

5.60%

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%

$1,002,020 $1.0M

Cap Rate 7%

$715,729 $715.7K

Cap Rate 9%

$556,678 $556.7K

Market Conditions

NOI Build-Up for 2,396 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

$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 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%

$1,002,020

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.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Electrical Service HVAC Service Bakery Furniture & Home Goods (Bike/Boat/Book/etc) Store Home Appliance 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

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

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two independent residences offer private entrances, outdoor areas, parking, laundry, and air conditioning within a gated property.

Where is this duplex located?

The property is located at 22363 H St Unit A 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 fully detached homes on one lot; 2,396 square feet built in 1981; Front residence includes 2 bedrooms and private decks