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529 S Pine Street, Santa Maria, CA 93458

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For Sale

$5,700,000

42 beds • 16 baths • 12,770 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $446.36
    Price per square foot

  • New Construction
    Age

Explore this Property

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.
MLS# SC25029813

Courtesy Of Stravinsky Holdings Inc

(805) 548-8686

Property Features

  • Age
    New Construction, New Construction
  • Amenities
    Wet Bar
  • Appliances
    Cooktop, Cooktop - Electric, Microwave, Range, Refrigerator
  • Architecture Style
    Modern
  • Exterior Type
    Stucco
  • Floor Covering
    Vinyl
  • Rooms
    Family Room, Kitchen, Living Room
  • View Type
    City

Map and Directions

Directions to 529 S Pine Street, Santa Maria, CA 93458

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Monthly Payment Breakdown

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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