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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    230 Stimson Ave Pismo Beach, CA 93449-2648

    • Apartment buildings
    • 3,998 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2022
    $2,200,000
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    4.7%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-2225468
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 230 Stimson Ave

    Construction
    WOOD
    Lot size
    0.25 lot acres
    Property size
    3,998 SF
    Zone code
    R4
    Property type
    Apartment buildings
    APN
    005-136-003
    APU
    5136003

    Description

    This exceptional 7-unit multifamily property in the heart of Pismo Beach, California presents a rare investment opportunity. Located just one block from the beach, this legacy property comprises three standalone units, a duplex, and two additional units at the rear. Four garages are also rented separately, adding to the income stream. The property currently boasts a unit mix of four one-bedroom, one-bathroom units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,645,000
      ML approach
      $1,830,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,285,000
      6.5%
      $1,185,000
      7%
      $1,105,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,629,000
      Market price range: $662k - $2.63M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,480,000
      Current use
      COMMERCIAL (GENERAL)
      $1,990,000
      Change: +34% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,825,000
      Change: +23% Conversion: Difficult
      MEDICAL BUILDING
      $1,645,000
      Change: +11% Conversion: Moderate
      OFFICE BUILDING
      $1,540,000
      Change: +4% Conversion: Moderate
      RETAIL STORES
      $1,475,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pismo Beach
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.64
    Latitude
    35.1387
    CBSA code
    42020
    CBSA name
    SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $24,877
    $1,248,480
    $1,040,400
    $2,288,880
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $295,000
      0.01 Acres

      1020 Cypress St

      APARTMENT HOUSE (5+ UNITS) • 0.01 Acres
      1020 Cypress St, Pismo Beach, CA 93449-2502
      View Details
    • Value Estimation
      $400,000
      0.26 Acres

      125 Ter Ave

      APARTMENT HOUSE (5+ UNITS) • 0.26 Acres
      125 Ter Ave, Pismo Beach, CA 93449-1856
      View Details
    • Value Estimation
      $490,000
      8,710 SF

      2710 Solano Rd

      APARTMENT HOUSE (5+ UNITS) • 8,710 SF
      2710 Solano Rd, Pismo Beach, CA 93449
      View Details
    • Value Estimation
      $445,000
      0.62 Acres

      2580 Spyglass Dr

      APARTMENT HOUSE (5+ UNITS) • 0.62 Acres
      2580 Spyglass Dr, Pismo Beach, CA 93449-1763
      View Details
    • Value Estimation
      $380,000
      3,875 SF

      188 Stimson Ave

      APARTMENT HOUSE (5+ UNITS) • 3,875 SF
      188 Stimson Ave, Pismo Beach, CA 93449-2692
      View Details
    • Value Estimation
      $585,000
      4,586 SF

      158 Stimson Ave

      APARTMENT HOUSE (5+ UNITS) • 4,586 SF
      158 Stimson Ave, Pismo Beach, CA 93449
      View Details

    Similar Nearby for Sale

    • $2,750,000

      Pismo Beach Multifamily Investment Opportunity

      8-unit multifamily property near Pismo Beach and Pismo Pier.
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      Furnished Home Near Beach and Pier

      Furnished 3-bed, 2-bath home near the beach and pier.
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      Pismo Beach Specialty Property

      Specialty property available for sale in Pismo Beach.
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    • $1,525,000

      Land For Sale

      Land available for sale.
      178 Cliff Ave, Pismo Beach, CA 93449
      View Details
    • $179,000
      13,280.00 Acres

      Pismo Beach Land with Views

      Vacant lot with views in Pismo Beach, California.
      1250 Longview Ave, Pismo Beach, CA 93449
      View Details

    Similar Nearby for Lease

    • New
      Contact for pricing
      1,250 SF

      Class A Office Space Available

      Premier Pismo Beach office park with highway visibility, for lease.
      300 James Way, Pismo Beach, CA 93449
      View Details
    • New
      Contact for pricing
      619 SF

      Pismo Beach Class A Office

      Class A office space available for lease in Pismo Beach.
      330 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      1,250 SF

      Class A Office Space Available

      Premier Pismo Beach office park with highway visibility, for lease.
      310 James Way, Pismo Beach, CA 93449
      View Details
    • New
      Contact for pricing
      533 SF

      Class A Medical Office Space

      Premier medical office park with highway visibility in Pismo Beach.
      2 James Way, Pismo Beach, CA 93449
      View Details
    • New
      Contact for pricing
      1,240 SF

      Class A Medical Office Space

      Premier medical office park with highway visibility in Pismo Beach.
      2 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      10,000 SF

      Prime Retail Space Available

      10,000 SF retail space with drive-thru potential.
      333 Five Cities Dr, Pismo Beach, CA 93449
      View Details
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    230 Stimson Ave
    Pismo Beach, CA 93449-2648
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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