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529 S Pine Street

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Address: 529 S Pine St, Santa Maria, CA 93458, USA

California & West + Apartment Buildings

Created date: February 15, 2025

Date last updated: April 16, 2025

Property Description

Are you looking for a high-yield, cash-flowing opportunity? Proforma net operating income would offer a 7.6% cap rate at the purchase price of $5,700,000. This innovative co-living property is designed for maximum rental income and strong returns. This project has gone through several years of planning, approvals, and construction and is finally near completion! Each of the units is designed for high occupancy, on a rent-by-the-room basis. There are 6 five bedroom units and 2 six bedroom units for a total of 42 bedrooms! The individual rooms have smart locks with combo codes to allow for individual living arrangements. There are shared bathrooms and a kitchen for a communal, dorm-style living experience. This is the way to optimize your rental rate on a square footage basis. Developer's projected monthly income is $48,500, which would yield $582,000 gross per year! Property is located in an "Opportunity Zone" that offer strategic tax advantages to developers and investors, minimizing capital gains taxes. If you are seeking a value-add opportunity and an investment project that will set you up with passive income upon completion, this is it! Conveniently located near Hancock College and Vandenberg Space Force Base. The local universities provide not only a pipeline of well educated employees for local employers but also a source of inelastic demand for local apartments. The area is also located along historic Route 101 and perfectly located between San Luis Obispo and Santa Barbara. It offers the best of Central Coast living with its beautiful weather, friendly community, and endless opportunities for outdoor adventure. Enjoy stunning beaches, world-class wineries, excellent colleges and a thriving local economy. Shown by appointment only.

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Broker Details

Owen Schwaegerle

Stravinsky Holdings Inc (805) 773-7777 MLS ID: sl02040597 State License Number: 02040597

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$5,700,000
No. of Units:	8
Year Built:	2025
Lot Size:	12,770.00 Sq ft
Opportunity Zone:	No
Price per unit:	$712,500
Property Website	Click Here
Number of Bedrooms:	42
Number of Bathrooms:	16

Address: 529 S Pine Street, Santa Maria, CA 93458, USA

Provided by:

Standard Status: Active

MLS Listing Number: SC25029813
ID: 3yd-MRMLSCA-SC25029813

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