714-745-2708

529 S Pine Street, Santa Maria, CA 93458

$5,700,000 Approx. USD 20 beds, 8 baths

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Marketed By The Keaty Team

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Marketed By The Keaty Team REALTOR® - Sales Associate 714-608-3298 m
714-745-2708 o
Lic#: 01276603
NRDS ID: 187514104
thekeatyteam@bhhscal.com Tustin Office
18302 Irvine Blvd, Suite 240
Tustin, CA 92780
Phone: 714-832-8800
Fax: 949-565-7700

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Listing Agent

Owen Schwaegerle
Lic#: 02040597
Broker: Courtesy of Keller Williams Realty Central Coast
Phone: 805-215-5063

Co Listing Agent

Camille Schwaegerle
Broker: Courtesy of Keller Williams Realty Central Coast
Phone: 805-215-5073

Agent Remarks

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, an

Listing Details

Property type: Res Income 2-4 Units (Multi-Family)

Status: ACTIVE

MLS# SC25029813

Price: $5,700,000

Beds: 20

Baths: 8

3 stories

0.41 acres

County: Santa Barbara

Zoning: Builder

Construction: Stucco

Heating description: Passive Solar

Last Updated: 7/30/2025

Days On Market (DOM): 590

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Lat/Long: 34.947347, -120.439330.
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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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