529 S Pine Street, Santa Maria, CA 93458

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Kobe Zimmerman

Berkshire Hathaway Home Services California Properties

kobezimmerman@bhhscal.com +1(858) 753-3353

$4,995,000

Est. payment - /mo

20 Beds

0.41 Acres Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SC25262675

Bedrooms 20

Lot Size 0.415 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

Are you the kind of investor who is looking for the next high-income producing opportunity? Are you excited by a multi-family building designed for student housing or communal living? If so, this deal is for you. 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 cant 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 youve been looking for, con

Location

State CA

County Santa Barbara

Zoning Builder

Direction This property is located at the corner of S Pine and W Boone

Interior

Heating Passive Solar

Fireplace No

Exterior

View Y/N No

Building

Story 3

Level or Stories 3

Others

Senior Community No

Tax ID 123131014

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Listed by Owen Schwaegerle Owen Schwaegerle, Broker

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529 S Pine Street Santa Maria, CA 93458