529 S Pine ST Santa Maria, CA 93458
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID SC25262493
HOA Y/N No
Year Built 2025
Property Sub-Type Multi Family
Property Description
This newly built co-living property has been years in the making, with extensive planning, approvals, and construction now nearing completion. The property was designed specifically for student and communal living. It offers 42 total bedrooms across six 5-bedroom units and two 6-bedroom units. Each bedroom has its own smart lock, and the shared kitchens and bathrooms create a practical setup for communal, dorm-style living that helps maintain high occupancy and steady income.
The projected numbers are strong. The developer anticipates monthly income of $55,900 dollars and annual gross income of $670,800 dollars, which supports a 9.7% percent cap rate at a purchase price of $4,995,000 dollars. The property is also located in an Opportunity Zone, providing valuable tax advantages that can enhance long-term returns.
If you want an investment that rewards effort, demands smart management, and delivers the kind of cash flow most properties can't touch, this one deserves your attention.
The location offers the kind of built-in demand investors look for. With Hancock College just minutes away and the consistent need for farm labor, the property benefits from a steady flow of students and seasonal workers seeking affordable, flexible housing. This consistent renter base will support strong occupancy levels year-round.
If this investment fits what you've been looking for, contact us to arrange a private showing.
Location
State CA
County Santa Barbara
Area Smia - Santa Maria
Interior
Heating Ductless, Solar
Cooling Ductless
Fireplace No
Laundry Common Area, Washer Hookup, Electric Dryer Hookup, Stacked
Exterior
Carport Spaces 2
Fence None
Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Available
Roof Type Shingle
Total Parking Spaces 2
Building
Lot Description 6-10 Units/Acre, Corner Lot, Landscaped
Story 3
Water Public
Others
Tax ID 123131014
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
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