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359 N 3rd St - Coastal Duplex | San Luis Obispo County 2 Unit Apartment Building Offered at $1,000,000 at a 3.78% Cap Rate Grover Beach, CA 93433

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INVESTMENT HIGHLIGHTS

  • Coastal Location: Desirable Grover Beach duplex located a short distance from the beach, with convenient access to coastal amenities, shopping, dining
  • Turn-Key Condition: Interior updates completed approximately four years ago include updated kitchens, flooring, and remodeled bathrooms, and more
  • Attractive Unit Mix: Two spacious 2BD/1BA units totaling approximately 2,080 SF, each with a private two-car garage and fenced backyard

EXECUTIVE SUMMARY

Well-maintained duplex located in the desirable coastal community of Grover Beach, a short distance from the beach. Situated on a 7,500 SF lot, the property offers approximately 2,080 SF of living space with two well-proportioned 2BD/1BA units. Each unit includes a private two-car garage and its own fenced backyard, offering flexibility for owner-occupancy while maintaining strong rental appeal.
Interior updates completed approximately four years ago include updated kitchen cabinetry, flooring, and remodeled bathrooms. Sliding glass doors provide natural light and direct access to private outdoor space. Ideally located near shopping, dining, and coastal amenities, and approximately two miles from the Pismo Pier and beachfront. This property presents an excellent opportunity for investors or owner-users seeking a turn-key, income-producing asset in a highly desirable San Luis Obispo County coastal location.

PROPERTY FACTS

Price $1,000,000
Price Per Unit $500,000
Sale Type Investment
Cap Rate 3.78%
No. Units 2
Property Type Multifamily
Lot Size 0.17 AC
Building Size 2,080 SF
Average Occupancy 100%
No. Stories 1
Year Built 1979
Parking Ratio 0.96/1,000 SF

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
2+1 2 - -
Walk Score®
Very Walkable (71)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
  • Listing ID: 38982887

  • Date on Market: 1/6/2026

  • Last Updated:

  • Address: 359 N 3rd St, Grover Beach, CA 93433

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