Duplex with Private Two-Car
359-361 N 3rd Street Grover Beach, CA 93433
For Sale
Contact for pricing
Well-maintained 1979 duplex with two 2BR/1BA units, each with private two-car garage and backyard access.
Property Size2,080 SF
Lot Size0.17 Acres
Price / SF$432.69
Days on Market101
Property Features for 359-361 N 3rd Street
General Information
- Standard status
- Active
- Size
- 2,080 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1979
Listing Agency:
Marcus & Millichap - Palo Alto
(650) 391-1824
Listed By:
Mitchell Zurich · License #CA 01870648
Source:
Crexi
Added: Apr 14
Changed: Jul 23
Last Checked: Jul 23 at 6:04PM
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 Marcus & Millichap - Palo Alto
Investment Insights
Based on property information with market context.
359–361 N 3rd Street is a well-maintained duplex built in 1979, offering two separate units with two bedrooms and one bathroom each. Each unit includes a private two-car garage and its own backyard, with sliding glass door access that supports indoor-outdoor livability and abundant natural light.
Recent updates enhance the property, including kitchen cabinetry and flooring completed approximately four years ago, along with remodeled bathrooms in both units. The duplex is positioned near local shopping, dining, and beaches, and is about two miles from Pismo Pier, a major Central Coast destination known for year-round activity.
With a functional two-unit layout and thoughtful interior improvements, this property is presented as a turnkey, income-producing asset for investors or owner-users.
Recent updates enhance the property, including kitchen cabinetry and flooring completed approximately four years ago, along with remodeled bathrooms in both units. The duplex is positioned near local shopping, dining, and beaches, and is about two miles from Pismo Pier, a major Central Coast destination known for year-round activity.
With a functional two-unit layout and thoughtful interior improvements, this property is presented as a turnkey, income-producing asset for investors or owner-users.
Key Highlights
- 1979‑built 359–361 N 3rd St duplex with two 2BR/1BA units and 2,080 SF total living space
- Each unit includes a private two‑car garage and private backyard access
- Kitchen cabinetry and flooring updates completed approximately four years ago
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.6k | $30.60 |
| − Vacancy | −$1.5k | −$0.73 |
| EGI | $62.1k | $29.87 |
| − OpEx | −$18.6k | −$8.96 |
| NOI | $43.5k | $20.91 |
2,080 SF · lease $30.60/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$621.3K
$543.7K – $724.9K
NOI $43,493 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$573.6K
$501.9K – $669.2K
NOI $40,154 @ 7.0% cap · market cap 4.46%
Theoretical Best
Healthcare Medical
$818.0K
$715.8K – $954.4K
NOI $57,262 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained 1979 duplex with two 2BR/1BA units, each with private two-car garage and backyard access.
Where is this duplex located?
The property is located at 359-361 N 3rd Street Grover Beach, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 1979‑built 359–361 N 3rd St duplex with two 2BR/1BA units and 2,080 SF total living space; Each unit includes a private two‑car garage and private backyard access; Kitchen cabinetry and flooring updates completed approximately four years ago
