Detached Duplex With Two
For Sale
$1,425,000
3202 Rockview Pl, San Luis Obispo, CA 93401
Two detached residences offer separate layouts, private outdoor areas, and dedicated parking within one multifamily property.
Property Size2,453 SF
Lot Size0.20 Acres
Days on Market130
Property Features for 3202 Rockview Pl
General Information
Standard status
Active
Size
2,453 SF
Lot size
0.20 Acres
Property subtype
Investment
Zoning
R2
Units
Unit Mix
1 x 1BR/1.5BA, 1 x 3BR+office/den (4th BR), 2.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
laundry hookups
balcony
patio
landscaped
Building Details
Building Size
2,453 SF
Year Built
2006
Buildings
2
Stories
2
Units
2
Listing Agency:
BHGRE HAVEN PROPERTIES
(805) 544-9161
Listed By:
Kurtis Wurster · License #01931796
(805) 544-9161
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 31 at 6:24PM
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 BHGRE HAVEN PROPERTIES
Investment Insights
Based on property information with market context.
This duplex comprises two detached, two-story residences on an 8,642-square-foot lot. The front home contains 952 square feet, with a one-bedroom suite and full bathroom downstairs, laundry hookups, and an upper-level living, dining, and kitchen area with a half bath. A sliding glass door opens to an upper balcony above a covered carport, while a front patio overlooks the South Hills.
The rear home provides 1,501 square feet with three bedrooms plus an office/den used as a fourth bedroom, 2.5 bathrooms, a two-car garage, and two additional off-street parking spaces. Its main level includes an open kitchen, dining, and living area, office/den, half bath, laundry room, and garage access. The upper level includes a primary suite with full bathroom, two additional bedrooms, and a second full bathroom. A concrete patio overlooks a seasonal creek. Both residences are fully landscaped and tenant-occupied.
The rear home provides 1,501 square feet with three bedrooms plus an office/den used as a fourth bedroom, 2.5 bathrooms, a two-car garage, and two additional off-street parking spaces. Its main level includes an open kitchen, dining, and living area, office/den, half bath, laundry room, and garage access. The upper level includes a primary suite with full bathroom, two additional bedrooms, and a second full bathroom. A concrete patio overlooks a seasonal creek. Both residences are fully landscaped and tenant-occupied.
Key Highlights
- Two detached homes on an 8,642‑square‑foot lot
- Front residence measures 952 square feet with one‑bedroom suite and full bathroom
- Rear residence measures 1,501 square feet with 3 bedrooms plus office/den used as a 4th bedroom
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
$51,293
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
3.60%
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%
$1,025,860
$1.0M
Cap Rate 7%
$732,757
$732.8K
Cap Rate 9%
$569,922
$569.9K
Market Conditions
NOI Build-Up for 2,453 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
$75.1K $30.60/SF
− Vacancy
−$1.8K −$0.73/SF
EGI
$73.3K $29.87/SF
− OpEx
−$22.0K −$8.96/SF
NOI
$51.3K $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%
$1,025,860
Cap Rate 7%
$732,757
Cap Rate 9%
$569,922
Alternative Uses
Best Use
Multifamily LT 5
$732.8K
$641.2K – $854.9K
NOI $51,293 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$676.5K
$591.9K – $789.3K
NOI $47,355 @ 7.0% cap · market cap 3.32%
Theoretical Best
Healthcare Medical
$964.7K
$844.1K – $1.13M
NOI $67,531 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
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 detached residences offer separate layouts, private outdoor areas, and dedicated parking within one multifamily property.
Where is this duplex located?
The property is located at 3202 Rockview Pl San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Two detached homes on an 8,642‑square‑foot lot; Front residence measures 952 square feet with one‑bedroom suite and full bathroom; Rear residence measures 1,501 square feet with 3 bedrooms plus office/den used as a 4th bedroom
