1840 Ocean Street
1840 Ocean Street
$860,000
2
8
3,408
3,408
$252
Closed 3/17/21
Description
Very solid 4-plex in the town of Oceano. These units always stay rented and when a vacancy occurs the time for rent-up is faster than the owner can turnover the unit. All 2-bed/1.5-bath townhomes. There are new furnaces and stoves in all units. Tenants pay electric and gas. There is ample off street parking both in front and back of the units, which the back units are accessed by an ally way. There is also an abundant amount of on street parking. Rents have just been raised the allowable amounts...Very solid 4-plex in the town of Oceano. These units always stay rented and when a vacancy occurs the time for rent-up is faster than the owner can turnover the unit. All 2-bed/1.5-bath townhomes. There are new furnaces and stoves in all units. Tenants pay electric and gas. There is ample off street parking both in front and back of the units, which the back units are accessed by an ally way. There is also an abundant amount of on street parking. Rents have just been raised the allowable amounts which sets the income at $5,300 a month, $63,600 annually. Great investment, great location, easy access to beach and near highway 1. Oceano's beach is the Oceano Dunes State Vehicular Recreation Area, a 1,500 acres coastal sand dune. It is the only state park in California where visitors may drive vehicles on the beach, tourists are attracted from all over the United States. Activities on this beach include riding the sand dunes on all-terrain-vehicles, swimming, clamming, camping, surfing, surf fishing, hiking, and bird watching. At $286 a SqFt and 15 GRM, the price is inline with comps and an incredibly better bargain and return on investment compared to Arroyo Grande and Grover Beach recent sales. Expenses noted include projected new taxes. Expenses at 40% are high for a 4-unit property and should be able to be brought down by a savvy operator. Rents are low should be able to be raised by the yearly max for many years to come. See attached projected 5-year analysis.
- Listed by Kevin King • DRE #01013696 • Brokerage DRE #01932713 • King Properties
Property Details for 1840 Ocean Street
Parking Spaces Total
8
Private PoolNo
Total Units4.0
Building TypeAttached
Lot Size SourceAssessor
Living Area3408
Assessor Parcel Number062086027
Property Attached YNtrue
Location
LISTING UPDATED: 03/17/2021 01:05 AM
Property Details for 1840 Ocean Street
Status | Closed |
---|---|
MLS # | SP20200000 |
Days on Market | 82 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1983 |
Lot Size | 0.16 AC / 7,000 SF |
County | San Luis Obispo County |
Location
Building Information for 1840 Ocean Street
Stories2Residences-Year Built1983Building Size-Lot Size0.16 AC / 7,000 SF
Payment Calculator
$5,588 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1840 Ocean Street
Property History for 1840 Ocean Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1840 Ocean Street
Taxable ValueLand$312,120Additions$582,624Total$894,744
Tax Record2023$10,744 ($895 / month)
Home Facts
Total Finished SqFt3,408 SqFtAbove Grade Finished SqFt3,408 SqFtLot Size7,000 SqFtStyleQuadraplexYear Built1983ZoningRMFCountySAN LUIS OBISPOAPN062-086-027
Schools near 1840 Ocean Street
This home is within Lucia Mar Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 8 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Oceano Elementary School PublicK to 6 | ||
Judkins Middle School Public7 to 8 | ||
Arroyo Grande High School Public8 to 12 | ||
Lopez Continuation High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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