Listing Agency: LPT Realty, Inc Show Phone

Listed By: Richard Margetson Show Phone

Source: Realtyrightchoice

Added: Aug 30 Changed: Oct 6 Last Checked: Oct 14 at 10:36PM

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Investment Insights

Based on property information with market context.

This 1,440-square-foot residence at Morro Shores includes 2 bedrooms and 2 baths. The living room receives natural light through three large windows and features cathedral ceilings. A spacious kitchen offers stainless appliances and a pantry, while the den includes a fireplace and built-in cabinetry. The den opens to a sunroom that connects with the outdoor side patio. Both bedrooms provide closet space, and the primary bath includes a linen closet and double-sink vanity.

The property is located at 633 Ramona Avenue, 31, in Los Osos, California. It is within walking distance of the Monday Farmer’s Market in Baywood, Sweet Springs Nature Preserve, and Sea Pines concerts on the green.

Key Highlights

• 2 bedroom, 2 bath home at Morro Shores
• 1,440 square feet of interior space
• Living room with 3 large windows and cathedral ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,799

Cap Rate

6.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$555,980 $556.0K

Cap Rate 7%

$397,129 $397.1K

Cap Rate 9%

$308,878 $308.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,440 SF

Gross rent

$51.8K $36.00/SF

− Vacancy

−$1.3K −$0.90/SF

EGI

$50.5K $35.10/SF

− OpEx

−$22.7K −$15.80/SF

NOI

$27.8K $19.31/SF

Area

San Luis Obispo County, CA

Vacancy

2.50%

Lease Rate

$36.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$555,980

Cap Rate 7%

$397,129

Cap Rate 9%

$308,878

Alternative Uses

Best Use

Apartment 5plus

$397.1K

$347.5K – $463.3K (±1% cap)

NOI $27,799 @ 7.0% cap · market cap 6.19%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$566.3K

$495.5K – $660.7K (±1% cap)

NOI $39,643 @ 7.0% cap · market cap 8.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Law Firm HVAC Service Hair Salon (Bike/Boat/Book/etc) Store Furniture & Home Goods Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

490

Businesses Nearby

Explore this area Business Placement

Demographics for 93402, CA

14,500

Population

6,586

Households

2.2

Avg Household Size

49

Median Age

50%

College-Educated

94%

High-School Grad

27.7 sq mi

ZIP Area

523

Density / Sq Mi

$103,839

Median Household Income

$43,002

Median Earnings

$1,909

Median Rent

$729,200

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Home with bright living areas, cathedral ceilings, stainless appliances, a den, and an adjoining sunroom.

Where is this residential income property located?

The property is located at 633 Ramona Avenue 31 Los Osos, CA.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 2 bedroom, 2 bath home at Morro Shores; 1,440 square feet of interior space; Living room with 3 large windows and cathedral ceilings