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STIMSON APARTMENTS 230 Stimson Ave 7 Unit Apartment Building $3,995,228 CAD ($570,747 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$238,528
|
$59.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$238,528
|
$59.63
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$71,559
|
$17.89
|
| Net Operating Income |
$166,970
|
$41.74
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $238,528 |
| Annual Per SF | $59.63 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $238,528 |
| Annual Per SF | $59.63 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $71,559 |
| Annual Per SF | $17.89 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $166,970 |
| Annual Per SF | $41.74 |
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 | $1,464,743 CAD |
| Land Assessment | $1,757,691 CAD | Total Assessment | $3,222,434 CAD |
Property Taxes
Parcel Number
005-136-003
Land Assessment
$1,757,691 CAD
Improvements Assessment
$1,464,743 CAD
Total Assessment
$3,222,434 CAD
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STIMSON APARTMENTS | 230 Stimson Ave
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