Residential Income Property with
For Sale
$199,000
24-1121 Orcutt Rd, San Luis Obispo, CA 93401
Silvercrest residence with upgraded finishes, flexible outdoor space, and convenient access to community amenities.
Property Size400 SF
Price / SF$497.50
Days on Market38
Property Features for 24-1121 Orcutt Rd
General Information
Standard status
Active
Size
400 SF
Property subtype
Manufactured In Park
Additional Details
Multifamily Units
1
Amenities
built-in porch
loft
hard-surface countertops
farmhouse sink
upgraded appliances
LVP flooring
air conditioning
built-in dresser unit
Building Details
Buildings
1
Listing Agency:
Advantage Homes
(408) 363-9300
Listed By:
Todd Su · License #01355922
(408) 316-9854
Source:
Exprealty
Added: Aug 11
Changed: Sep 15
Last Checked: Sep 15 at 2:22PM
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 Advantage Homes
Investment Insights
Based on property information with market context.
This Silvercrest residential income property features a compact layout with a loft, built-in porch, and flexible outdoor area that can accommodate parking or serve as yard space. Interior improvements include hard-surface countertops, a farmhouse sink, upgraded appliances, LVP flooring, and air conditioning. A built-in dresser adds additional storage within the home.
The property is located at 24-1121 Orcutt Rd in San Luis Obispo, near a community park and guest parking. Silvercrest construction and the stated finish package provide a defined set of improvements within the residence.
The property is located at 24-1121 Orcutt Rd in San Luis Obispo, near a community park and guest parking. Silvercrest construction and the stated finish package provide a defined set of improvements within the residence.
Key Highlights
- Silvercrest‑built residence with a loft and built‑in porch
- Hard‑surface countertops and farmhouse sink
- Upgraded appliances, LVP flooring, and air conditioning
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
$7,722
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
3.88%
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%
$154,440
$154.4K
Cap Rate 7%
$110,314
$110.3K
Cap Rate 9%
$85,800
$85.8K
Market Conditions
NOI Build-Up for 400 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
$14.4K $36.00/SF
− Vacancy
−$360 −$0.90/SF
EGI
$14.0K $35.10/SF
− OpEx
−$6.3K −$15.80/SF
NOI
$7.7K $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 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%
$154,440
Cap Rate 7%
$110,314
Cap Rate 9%
$85,800
Alternative Uses
Best Use
Apartment 5plus
$110.3K
$96.5K – $128.7K
NOI $7,722 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$157.3K
$137.7K – $183.5K
NOI $11,012 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 93401, CA
29,877
Population
14,363
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
64.2 sq mi
ZIP Area
465
Density / Sq Mi
$95,386
Median Household Income
$47,898
Median Earnings
$1,859
Median Rent
$943,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Silvercrest residence with upgraded finishes, flexible outdoor space, and convenient access to community amenities.
Where is this residential income property located?
The property is located at 24-1121 Orcutt Rd San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Silvercrest‑built residence with a loft and built‑in porch; Hard‑surface countertops and farmhouse sink; Upgraded appliances, LVP flooring, and air conditioning
