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STIMSON APARTMENTS 230 Stimson Ave 7 Unit Apartment Building $2,899,000 ($414,143/Unit) 4.17% Cap Rate Pismo Beach, CA 93449
Investment Highlights
- TOURIST AREA
- VACATION DESTINATION
- 1 BLOCK FROM THE BEACH
Executive Summary
RARE OPPORTUNITY TO PURCHASE THIS LEGACY PROPERTY. IT IS A 7 UNIT MULTI FAMILY COMPLEX, ONE BLOCK FROM THE BEACH, IN THE DOWNTOWN CORE OF PISMO BEACH. THER ARE 3 STAND ALONE UNITS, A DUPLEX, AND 2 UNITS AT REAR OF THE PROPERTY. THERE ARE 4 GARAGES THAT ARE RENTED OUT AS WELL. RENTS ARE BELOW MARKET, BUT HUGE UPSIDE POTENTIAL, WITH THE CITY ALLOWING UP TO 4 SHORT TERM RENTAL LICENSES FOR THE PROPERTY. CURRENT MARKET RENTS TOTAL $18,000 PER MONTH. THE UNIT MIX IS, 4- 1 BED,1 BATH, 1-2 BED, 2 BATH, 1 -STUDIO AND A 2 BED, 1 BATH HOUSE, WITH A FENCED FRONT YARD.THIS PROPERTY WOULD BE A GREAT BEACH GETAWAY, WITH PLENTY OF ROOM TO STORE THE BEACH TOYS AND STILL GENERATE VACATION RENTAL INCOME. (OM IS ATTACHED)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$173,080
|
$43.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$173,080
|
$43.27
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$51,924
|
$12.98
|
| Net Operating Income |
$121,156
|
$30.29
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $173,080 |
| Annual Per SF | $43.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $173,080 |
| Annual Per SF | $43.27 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $51,924 |
| Annual Per SF | $12.98 |
| Net Operating Income | |
|---|---|
| Annual | $121,156 |
| Annual Per SF | $30.29 |
Property Facts
Amenities
Site Amenities
- Fenced Lot
- Trash Pickup - Curbside
- Storage Space
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 005-136-003 | Improvements Assessment | $1,061,208 |
| Land Assessment | $1,273,449 | Total Assessment | $2,334,657 |
Property Taxes
Parcel Number
005-136-003
Land Assessment
$1,273,449
Improvements Assessment
$1,061,208
Total Assessment
$2,334,657
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STIMSON APARTMENTS | 230 Stimson Ave
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