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47 Carmel Ave 2 Unit Apartment Building Offered at $995,000 at a 4.22% Cap Rate Pacifica, CA 94044
Investment Highlights
- Tenants All Pay Water, PG&E and Recology(Trash) Bills DIRECT
- Coastal Duplex Steps from the Pacific Ocean & Pacifica Pier
- Walk to Restaurants, Organic Grocery Store (Oceana Mkt), Bars, Antique Shops, Coffee/Breakfast Shops
- 41 Carmel (Western-most unit) to be delivered VACANT | Move-in Ready Condition
- In-Unit Washer/Dryers for Both Units
Executive Summary
OPEN HOUSES COMING SOON! -- 1st Open House (Friday 1/16 from 12:00pm-1:30pm) | 2nd Open House (Thursday 1/22 from 12:00pm-1:30pm) - Please email Nate@GustavsonGroup.com if you are planning to attend.
Located just half a block from the Pacific Ocean and Pacifica Pier, 41-47 Carmel Avenue offers a rare coastal duplex opportunity in the highly desirable West Sharp Park neighborhood. The property features two (2) charming one-bedroom/one-bath units each approximately 550 square feet with large one-car garages and private backyard spaces for each unit. -- The westernmost unit at 41 Carmel Avenue will be delivered VACANT, move-in ready, and ideal for an owner-user or investor seeking immediate market rent potential. The property sits within walking distance to Palmetto Avenues vibrant local scene, including restaurants, coffee shops, bars, boutique stores, and the annual Fog Festival. Enjoy easy access to Highway 1, Sharp Park Golf Course, Mori Point, and scenic coastal trails. --- Built in 1959, this classic beachside duplex rests on a 3,510 square-foot lot and spans approximately 1,564 square feet of total building area. With separate water meters, very low expenses, and strong income potential, its a fantastic investment or 1031 exchange option in one of Pacificas most sought-after locations. --- Offered at a current cap rate of 4.22% and 15.77 GRM, this property blends beach-town charm, convenience, and solid cash flow just steps from the sand.
Located just half a block from the Pacific Ocean and Pacifica Pier, 41-47 Carmel Avenue offers a rare coastal duplex opportunity in the highly desirable West Sharp Park neighborhood. The property features two (2) charming one-bedroom/one-bath units each approximately 550 square feet with large one-car garages and private backyard spaces for each unit. -- The westernmost unit at 41 Carmel Avenue will be delivered VACANT, move-in ready, and ideal for an owner-user or investor seeking immediate market rent potential. The property sits within walking distance to Palmetto Avenues vibrant local scene, including restaurants, coffee shops, bars, boutique stores, and the annual Fog Festival. Enjoy easy access to Highway 1, Sharp Park Golf Course, Mori Point, and scenic coastal trails. --- Built in 1959, this classic beachside duplex rests on a 3,510 square-foot lot and spans approximately 1,564 square feet of total building area. With separate water meters, very low expenses, and strong income potential, its a fantastic investment or 1031 exchange option in one of Pacificas most sought-after locations. --- Offered at a current cap rate of 4.22% and 15.77 GRM, this property blends beach-town charm, convenience, and solid cash flow just steps from the sand.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$63,084
|
$40.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,262
|
$0.81
|
| Effective Gross Income |
$61,822
|
$39.53
|
| Taxes |
$11,715
|
$7.49
|
| Operating Expenses |
$8,096
|
$5.18
|
| Total Expenses |
$19,811
|
$12.67
|
| Net Operating Income |
$42,011
|
$26.86
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $63,084 |
| Annual Per SF | $40.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,262 |
| Annual Per SF | $0.81 |
| Effective Gross Income | |
|---|---|
| Annual | $61,822 |
| Annual Per SF | $39.53 |
| Taxes | |
|---|---|
| Annual | $11,715 |
| Annual Per SF | $7.49 |
| Operating Expenses | |
|---|---|
| Annual | $8,096 |
| Annual Per SF | $5.18 |
| Total Expenses | |
|---|---|
| Annual | $19,811 |
| Annual Per SF | $12.67 |
| Net Operating Income | |
|---|---|
| Annual | $42,011 |
| Annual Per SF | $26.86 |
Property Facts
| Price | $995,000 | Lot Size | 0.07 AC |
| Price Per Unit | $497,500 | Building Size | 1,564 SF |
| Sale Type | Investment | Average Occupancy | 50% |
| Cap Rate | 4.22% | No. Stories | 1 |
| Gross Rent Multiplier | 15.77 | Year Built | 1959 |
| No. Units | 2 | Parking Ratio | 2.56/1,000 SF |
| Property Type | Multifamily | ||
| Zoning | Multifamily Residential | ||
| Price | $995,000 |
| Price Per Unit | $497,500 |
| Sale Type | Investment |
| Cap Rate | 4.22% |
| Gross Rent Multiplier | 15.77 |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.07 AC |
| Building Size | 1,564 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built | 1959 |
| Parking Ratio | 2.56/1,000 SF |
| Zoning | Multifamily Residential |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Range
- Smoke Free
- Vinyl Flooring
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 550 |
1 1
Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 016-012-150 | Total Assessment | $950,000 |
| Land Assessment | $596,000 | Annual Taxes | $11,715 ($7.49/SF) |
| Improvements Assessment | $354,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
016-012-150
Land Assessment
$596,000
Improvements Assessment
$354,000
Total Assessment
$950,000
Annual Taxes
$11,715 ($7.49/SF)
Tax Year
2025
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47 Carmel Ave
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