6-Unit Multifamily
740 Ramona Grover Beach, CA 93433
740 Ramona, Grover Beach, CA, 93433
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For Sale
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Two triplex buildings each offer three 2-bedroom apartments above separate 2-car garages, with laundry on-site.
Property Size4,500 SF
Lot Size0.24 Acres
Price / SF$508.89
Days on Market55
Property Features for 740 Ramona
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Lot size
- 0.24 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1983
Listing agency
Battaglia Commercial Real Estate
(805) 688-5333
Listed by
Steven Battaglia · License #CA 01318215
Source
Crexi
Added: May 29 Updated: Jul 21 at 7:52AM Checked: Jul 21 at 7:52AM
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 Battaglia Commercial Real Estate
Investment Insights
Based on property information with market context.
740-760 Ramona Avenue is a well-maintained 6-unit multifamily property comprised of two triplex buildings. Each building includes three spacious 2-bedroom/1-bath apartments positioned atop its own 2-car garage, designed to provide residents with parking, storage, and privacy. The units are separately metered for gas and electricity, and each triplex has its own laundry room and water meter. Built in 1983, the property has undergone recent exterior improvements, including exterior paint, wood fascia repair/replacement, and a newer roof installed in 2014. Five of the six units have been renovated with updated vinyl flooring, countertops, appliances, fixtures, interior doors, and paint.
The property is located in Grover Beach, California, in a coastal community with proximity to the beach, supporting rental demand in the Central Coast market.
The arrangement is two three-unit structures with independent metering and on-site laundry for each triplex, offering a clean, organized layout for residential income use.
The property is located in Grover Beach, California, in a coastal community with proximity to the beach, supporting rental demand in the Central Coast market.
The arrangement is two three-unit structures with independent metering and on-site laundry for each triplex, offering a clean, organized layout for residential income use.
Key Highlights
- 6‑unit multifamily in Grover Beach: two triplex buildings with three 2‑bedroom/1‑bath apartments each
- Each triplex has three 2BR/1BA units approximately 750 SF, with apartments located above separate 2‑car garages
- Separate metering: each unit is separately metered for gas and electricity, with each triplex having its own water meter
Local Financial Insights For Apartment 5plus
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 | $162.0k | $36.00 |
| − Vacancy | −$4.1k | −$0.90 |
| EGI | $158.0k | $35.10 |
| − OpEx | −$71.1k | −$15.80 |
| NOI | $86.9k | $19.31 |
4,500 SF · lease $36.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,873 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.77M
$1.55M – $2.06M
NOI $123,885 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two triplex buildings each offer three 2-bedroom apartments above separate 2-car garages, with laundry on-site.
Where is this apartment building located?
The property is located at 740 Ramona Grover Beach, CA.
What is the asking price?
The asking price for this property is $2,290,000.
What are key features of this property?
This property features: 6‑unit multifamily in Grover Beach: two triplex buildings with three 2‑bedroom/1‑bath apartments each; Each triplex has three 2BR/1BA units approximately 750 SF, with apartments located above separate 2‑car garages; Separate metering: each unit is separately metered for gas and electricity, with each triplex having its own water meter
