529 S Pine Street
Santa Maria, CA 93458
Active for $5,700,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 18,060 sqft
| MLS | SC25029813 |
| Year Built | 2025 |
| Property Type | Apartment |
| County | Santa Barbara |
| Status | Active |
| Active | $5,700,000 |
| Structure Size | N/A sqft |
| Lot Size | 18,060 sqft |
| Beds | N/A |
| Baths | N/A |
Description
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 information courtesy of: Owen Schwaegerle, Keller Williams Realty Central Coast . *Based on information from the Association of REALTORS/Multiple Listing as of 04/05/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Gloria B. Gebr
REALTOR®
Direct: 818.324.5636
Email: Email Me
DRE: 01958994
DRE #01873088
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