Furnished Duplex with Development
For Sale
$995,000
Pending
261 N 13th, Grover Beach, CA 93433
Grover Beach, CA
Property Size1,476 SF
Lot Size0.13 Acres
Days on Market177
Property Features for 261 N 13th
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Living Room, Bedroom 1, Bathroom 3, Bathroom 1, Laundry Room, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Appliances
Gas Range
Subdivision
North Grover Beach(350)
Lot features
0-1 Unit/ Acre
Elementary school district
Lucia Mar Unified
Middle school district
Lucia Mar Unified
High school district
Lucia Mar Unified
Directions
From Grand Ave turn on North 13th Street
Standard status
Pending
APN
060172037
Size
1,476 SF
Lot size
0.13 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Listing Agency:
Energy-Wise Realty
(805) 528-7130
Listed By:
Melissa Carstairs · License #01917849
(805) 234-5209
Added: Feb 26
Changed: Aug 20
Last Checked: Aug 22 at 3:06AM
MLS# SC26045292
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.
Investment Insights
Based on property information with market context.
This furnished duplex contains 1,476 square feet across two residences: one with 2 bedrooms and 1 bathroom, and the other with 2 bedrooms and 2 bathrooms. Each unit has a private yard area. Property improvements include a newer roof, dual pane windows, central heat and air, a gas range, a laundry room, public water, and public sewer. Built in 1949, the property also includes an undeveloped portion of the lot.
The 0.1343-acre site is zoned Medium Density Residential (R2) and has two addresses. The property is near the beach, shopping, restaurants, and highway access. Current zoning may support additional residential development, including standard-density or fractional-density units and possible ADU opportunities, subject to City of Grover Beach approval and verification of applicable development standards.
The 0.1343-acre site is zoned Medium Density Residential (R2) and has two addresses. The property is near the beach, shopping, restaurants, and highway access. Current zoning may support additional residential development, including standard-density or fractional-density units and possible ADU opportunities, subject to City of Grover Beach approval and verification of applicable development standards.
Key Highlights
- 1,476 square feet with two residential units
- Unit mix includes 2 bedrooms and 1 bathroom plus 2 bedrooms and 2 bathrooms
- 0.1343‑acre lot with an undeveloped portion
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
$30,863
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
3.10%
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%
$617,260
$617.3K
Cap Rate 7%
$440,900
$440.9K
Cap Rate 9%
$342,922
$342.9K
Market Conditions
NOI Build-Up for 1,476 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
$45.2K $30.60/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$44.1K $29.87/SF
− OpEx
−$13.2K −$8.96/SF
NOI
$30.9K $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%
$617,260
Cap Rate 7%
$440,900
Cap Rate 9%
$342,922
Alternative Uses
Best Use
Multifamily LT 5
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$407.1K
$356.2K – $474.9K
NOI $28,494 @ 7.0% cap · market cap 2.86%
Theoretical Best
Healthcare Medical
$580.5K
$507.9K – $677.2K
NOI $40,634 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 93433, CA
12,643
Population
5,757
Households
2.2
Avg Household Size
42
Median Age
27%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
5,747
Density / Sq Mi
$82,534
Median Household Income
$39,412
Median Earnings
$1,921
Median Rent
$691,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately addressed units include private outdoor areas and central heating and cooling.
Where is this duplex located?
The property is located at 261 N 13th Grover Beach, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1,476 square feet with two residential units; Unit mix includes 2 bedrooms and 1 bathroom plus 2 bedrooms and 2 bathrooms; 0.1343‑acre lot with an undeveloped portion
