230 Stimson Avenue

Pismo Beach, CA 93449

$3,490,000
Price
8
Beds
8
Baths
4,000 Sq. Ft.
$873 / Sq. Ft.
4,000
Sq. Ft.
$873
per Sq. Ft.

Description

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,...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.
  1. Listed by James Kelsey • DRE #01354722 • Brokerage DRE #01450133 • Century 21 Hometown Realty, Arroyo Grande Office • 805-709-4828

Property Details for 230 Stimson Avenue

Parking Spaces Total
4
Private Pool
No
Cooling Type
N/K
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4000
Assessor Parcel Number
005136003
LISTING UPDATED: 11/12/2024 03:19 AM

Property Details for 230 Stimson Avenue

StatusActive
MLS #PI24153716
Days on Market113
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
CountySan Luis Obispo County

Building Information for 230 Stimson Avenue

Building/Complex230 Stimson AveFloor-Stories2Residences-Pet Policy-Year Built1950Building Size-

Property Information for 230 Stimson Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $72,000
  • Gross Scheduled Income: $192,000
  • Net Operating Income: $134,400
  • Number Of Rented Garages: 4
  • Garage Rental Rate: $125
Expense Details
  • Operating Expense: $57,600
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: 15
  • Tax Census Tract: 117.04
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Curbs, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Washer Hookup
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Ductless, Wall
  • Heating: Ductless, Wall Furnace
Exterior Features
  • Roof: Asbestos Shingle
  • Entry Location: 1
  • Waterfront Features: Ocean Side of Freeway
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected
  • Electric: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Assigned
Property / Structure Info
  • Builders Tract Name: Pismo Beach
  • Builders Tract Code: Pismo Beach (360)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $1,325
  • Unit Type Pro Forma: 2325
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $1,325
  • Unit Type Pro Forma: 2325
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $900
  • Unit Type Total Rent: $1,025
  • Unit Type Pro Forma: 1425
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,300
  • Unit Type Total Rent: $3,425
  • Unit Type Pro Forma: 3425
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Negotiable
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 7
Unit Information
  • Number Of Units Leased: 6
  • Rent Controlled: No
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1

Property History for 230 Stimson Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 230 Stimson Avenue

Taxable ValueLand$1,248,480Additions$1,040,400Total$2,288,880
Tax Record2024$24,877 ($2,073 / month)
Home Facts
Total Finished SqFt3,998 SqFtAbove Grade Finished SqFt3,998 SqFtLot Size10,875 SqFtStyleMulti-Family Res (5+ Units)ZoningR4CountySAN LUIS OBISPOAPN005-136-003

Schools near 230 Stimson Avenue

This home is within Lucia Mar Unified School District.
Rating
School
Type
Grades
Distance
Shell Beach Elementary School
Public - K to 6
Judkins Middle School
Public - 7 to 8
Arroyo Grande High School
Public - 9 to 12
Lopez Continuation High School
Public - 9 to 12
Rating
School
Distance
Shell Beach Elementary School
PublicK to 6

Judkins Middle School
Public7 to 8

Arroyo Grande High School
Public9 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

Homes for Sale near Pismo Beach

Neighborhoods

Cities

ZIPs

More information about 230 Stimson Avenue, Pismo Beach, CA 93449

230 Stimson Avenue is a multi-family home for sale in Pismo Beach, CA 93449. This property was listed for sale on July 26, 2024 by Century 21 Hometown Realty, Arroyo Grande Office, it's currently listed at $3,490,000. It has been on the market for a total of 113 days and was last sold on December 1, 2021. This listing's school district is Lucia Mar Unified School District. Nearby schools include Shell Beach Elementary School, Judkins Middle School and Arroyo Grande High School. 230 Stimson Avenue is a 8-bed, 8-bath, 4,000 sqft multi-family home built in 1950.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Century 21 Hometown Realty, Arroyo Grande Office, James Kelsey, DRE #01354722

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.