529 S Pine Street, Santa Maria, CA 93458 - Berkshire Hathaway HomeServices California Properties
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529 S Pine Street, Santa Maria, CA 93458

$5,700,000 Approx. USD 0 beds, 0 baths

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Listing Agent


Owen Schwaegerle | owen.schwaegerle@kw.com
Lic#: 02040597
Broker: Courtesy of Keller Williams Realty Central Coast

Co Listing Agent


Camille Schwaegerle | camille.s@kw.com
Lic#: 02107467
Broker: Courtesy of Keller Williams Realty Central Coast

Agent Remarks

Are you looking for a high-yield, cash-flowing opportunity? 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.

Listing Details

Property type: Apartment (Multi-Family)
Status: Active
MLS# SC25029813
Price: $5,700,000
Beds: 0
Baths: 0
None fireplaces
Built in 2025
0.41 acres
Lot size: 0.4146
County: Santa Barbara
Property style: Modern
Zoning: R3
Construction: Drywall,Stucco
Interior features: Wet Bar,Laminate Counters,Multiple Staircases,Open Floorplan,All Bedrooms Up
Appliances: ENERGY STAR Qualified Appliances,ENERGY STAR Qualified Water Heater,Electric Cooktop,Electric Oven,Electric Range,Electric Water Heater,Microwave,Refrigerator,Water Heater
Lot description: Corner Lot,Landscaped
Heating/cooling: Ductless
Heating description: Ductless,Solar
MLS area: SMIA - Santa Maria

Last Updated: 2/14/2025

 Days On Market (DOM): 30

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This listing belongs to the SMIA - Santa Maria MLS area

The style of this listing is Modern.
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Lat/Long: 34.947390, -120.439380.
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Source: CRM. Also Available in 25000435,

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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