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Listed by Owen Schwaegerle • Keller Williams Realty Central Coast
$5,700,000
Est. payment /mo
0.41 Acres Lot
Active
529 S Pine ST Santa Maria, CA 93458
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSC25029813
Style Contemporary
Year Built 2025
Lot Size 0.415 Acres
Source California Regional MLS
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 educ
Location
State CA
County Santa Barbara
Area Smia - Santa Maria
Rooms
Kitchen Microwave, Other, Oven Range - Electric, Refrigerator, Oven - Electric
Interior
Heating Solar
Laundry Laundry Area, 30, Stacked Only, 9
Exterior
Garage Spaces 8.0
Pool 31, None
View Local/Neighborhood, City Lights
Roof Type Shingle
Building
Story Three or More Stories
Water Hot Water, District - Public
Architectural Style Contemporary
Others
Tax ID 123131014
Special Listing Condition Not Applicable
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