Remodeled Duplex in San
For Sale
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346 12th, San Miguel, CA 93451
Updated duplex in a growing community with income potential.
Property Size1,400 SF
Price / SF$442.14
Days on Market211
Property Features for 346 12th
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multifamily
Zoning
Public Rec
Building Details
Buildings
2
Stories
1
Units
2
Listing Agency:
Luxton Real Estate
Listed By:
Karlie Montgomery · License #01905914
Source:
Crexi
Added: Jan 12
Changed: Aug 8
Last Checked: Aug 8 at 1:44PM
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 Luxton Real Estate
Investment Insights
Based on property information with market context.
Located in the historic town of San Miguel, California, this multifamily property is zoned residential multifamily. The well-maintained duplex features two fully remodeled units totaling just under 1,400 sq ft, both updated with modern finishes. The main unit is a 2-bedroom, 1-bath with contemporary upgrades and a utility room. The utility room is suitable for conversion into a third bedroom, home office, or extra storage. The second unit is a 1-bedroom, 1-bath. The main 2-bedroom unit becomes vacant as of February 15. The property has a history of strong, reliable rents. It is located right off Highway 101 for quick access to Paso Robles, wine country, and the Central Coast. This property is ideal for owner-occupants, multigenerational families, or investors.
Key Highlights
- Prime multifamily property in San Miguel, CA, offering quick access to Paso Robles and the Central Coast.
- Two fully remodeled units (2‑bed/1‑bath and 1‑bed/1‑bath) with modern finishes.**
- Main 2‑bedroom unit available for owner‑occupancy starting February 15th.**
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
$29,274
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
4.73%
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%
$585,480
$585.5K
Cap Rate 7%
$418,200
$418.2K
Cap Rate 9%
$325,267
$325.3K
Market Conditions
NOI Build-Up for 1,400 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
$42.8K $30.60/SF
− Vacancy
−$1.0K −$0.73/SF
EGI
$41.8K $29.87/SF
− OpEx
−$12.5K −$8.96/SF
NOI
$29.3K $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%
$585,480
Cap Rate 7%
$418,200
Cap Rate 9%
$325,267
Alternative Uses
Best Use
Multifamily LT 5
$418.2K
$365.9K – $487.9K
NOI $29,274 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$386.1K
$337.8K – $450.5K
NOI $27,027 @ 7.0% cap · market cap 4.37%
Theoretical Best
Healthcare Medical
$550.6K
$481.8K – $642.4K
NOI $38,542 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 93451, CA
4,820
Population
1,671
Households
2.9
Avg Household Size
34
Median Age
24%
College-Educated
79%
High-School Grad
447.2 sq mi
ZIP Area
11
Density / Sq Mi
$91,250
Median Household Income
$43,353
Median Earnings
$1,956
Median Rent
$582,200
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 - Updated duplex in a growing community with income potential.
Where is this duplex located?
The property is located at 346 12th San Miguel, CA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Prime multifamily property in San Miguel, CA, offering quick access to Paso Robles and the Central Coast.; Two fully remodeled units (2‑bed/1‑bath and 1‑bed/1‑bath) with modern finishes.**; Main 2‑bedroom unit available for owner‑occupancy starting February 15th.**
