6-Unit Multifamily
For Sale
$2,290,000
Pending
740 Ramona Avenue Unit 740760, Grover Beach, CA 93433
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
Days on Market101
Property Features for 740 Ramona Avenue Unit 740760
General Information
Standard status
Pending
Size
4,500 SF
Lot size
0.24 Acres
Property subtype
Multi-Family / Multi Family
Additional Details
Multifamily Units
6
Amenities
Wall Furnace
Coin Op, Common, Laundry Eq/Own
No
Slab
Yes
6
12
Common
6.0
Composition
2
Slab, None
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Battaglia Commercial RE
Listed By:
Steven R Battaglia · License #01318215
(805) 688-5333
Source:
Compass
Added: May 28
Changed: Sep 3
Last Checked: Sep 4 at 2:08PM
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 RE
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
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
$86,873
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
3.79%
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%
$1,737,460
$1.7M
Cap Rate 7%
$1,241,043
$1.2M
Cap Rate 9%
$965,256
$965.3K
Market Conditions
NOI Build-Up for 4,500 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
$162.0K $36.00/SF
− Vacancy
−$4.1K −$0.90/SF
EGI
$158.0K $35.10/SF
− OpEx
−$71.1K −$15.80/SF
NOI
$86.9K $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 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%
$1,737,460
Cap Rate 7%
$1,241,043
Cap Rate 9%
$965,256
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
966
Businesses Nearby
Explore this area
Business Placement
Demographics for 93433, CA
12,643
Population
5,757
Households
2.2
Avg Household Size
42
Median Age
27%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
5,747
Density / Sq Mi
$82,534
Median Household Income
$39,412
Median Earnings
$1,921
Median Rent
$691,900
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?
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 Avenue Unit 740760 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
