Coastal-View
New
For Sale
$1,299,999
2630 Maple Avenue, Morro Bay, CA 93244
Two separate residences combine flexible living arrangements with decks, patios, and views toward Morro Rock and the Pacific Ocean.
Property Size2,024 SF
Price / SF$642.29
Days on Market4
Property Features for 2630 Maple Avenue
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
drought-tolerant landscaping
inviting outdoor living spaces
gas fireplace
sunroom
private deck
backyard patio with fire pit
private backyard courtyard
raised sitting area
enclosed upper deck
front decks
indoor laundry room
Building Details
Year Built
1988
Listing Agency:
Independent Broker Network
(559) 786-3109
Listed By:
Robyn E. Icenhower · License #DRE #01810074
(559) 786-3109
Source:
Exitrealty
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 3:27AM
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 Independent Broker Network
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,024 square feet across two distinct residences and was built in 1988. The upper unit includes two bedrooms, two bathrooms, a living room, kitchenette, gas fireplace, remodeled bathrooms, sunroom, and private bedroom deck. The lower unit offers one bedroom, one bathroom, vaulted living-room ceilings, dining space, full kitchen, and indoor laundry.
Outdoor features include a backyard courtyard, patio with fire pit, raised sitting area, an enclosed upper deck, and two lower-level front decks. Several of these spaces face Morro Rock and the Pacific Ocean. The property is located near Morro Bay beaches, the waterfront, shops, restaurants, and outdoor recreation.
Outdoor features include a backyard courtyard, patio with fire pit, raised sitting area, an enclosed upper deck, and two lower-level front decks. Several of these spaces face Morro Rock and the Pacific Ocean. The property is located near Morro Bay beaches, the waterfront, shops, restaurants, and outdoor recreation.
Key Highlights
- Duplex with approximately 2,024 square feet
- Built in 1988
- Upper residence has 2 bedrooms, 2 bathrooms, kitchenette, gas fireplace, sunroom, and private deck
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
$42,322
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
3.26%
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%
$846,440
$846.4K
Cap Rate 7%
$604,600
$604.6K
Cap Rate 9%
$470,244
$470.2K
Market Conditions
NOI Build-Up for 2,024 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
$61.9K $30.60/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$60.5K $29.87/SF
− OpEx
−$18.1K −$8.96/SF
NOI
$42.3K $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%
$846,440
Cap Rate 7%
$604,600
Cap Rate 9%
$470,244
Alternative Uses
Best Use
Multifamily LT 5
$604.6K
$529.0K – $705.4K
NOI $42,322 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$558.2K
$488.4K – $651.2K
NOI $39,073 @ 7.0% cap · market cap 3.01%
Theoretical Best
Healthcare Medical
$796.0K
$696.5K – $928.7K
NOI $55,721 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 93244, CA
229
Population
107
Households
2.1
Avg Household Size
43
Median Age
9%
College-Educated
69%
High-School Grad
7.9 sq mi
ZIP Area
29
Density / Sq Mi
$123,452
Median Earnings
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine flexible living arrangements with decks, patios, and views toward Morro Rock and the Pacific Ocean.
Where is this duplex located?
The property is located at 2630 Maple Avenue Morro Bay, CA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Duplex with approximately 2,024 square feet; Built in 1988; Upper residence has 2 bedrooms, 2 bathrooms, kitchenette, gas fireplace, sunroom, and private deck
