Contact Xavier Gomez
Contacting Xavier Gomez
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
529 Pine Street, Santa Maria, CA 93458
Priced at Only: $4,995,000
For more Information Call
Address: 529 Pine Street, Santa Maria, CA 93458
Request More Information
  • All fields are required.
  • MLS#: SC25262675 ( Apartment )
  • Street Address: 529 Pine Street
  • Viewed: 10
  • Price: $4,995,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2025
  • Bldg sqft: 0
  • Days On Market: 157
  • Additional Information
  • County: SANTA BARBARA
  • City: Santa Maria
  • Zipcode: 93458
  • Provided by: The Schwaegerle Team
  • Contact: Owen Owen
  • California Regional MLS IDX
  • DMCA Notice
  • 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, farm workers, 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 is now complete. 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. 3 of the units are to be leased out to a local farmer and filled with migrant workers on a one year lease. The projected rental income for those 3 units is about $4,200 per month. Given this rental rate, the projected rental income for the entire building would be around $30,000 per month. This would bring the annual gross income to $360,000, which supports a 4.6% 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, contact us to arrange a private showing.
Features
Appliances
  1. Electric Oven
  2. Electric Water Heater
  3. Electric Cooktop
  4. ENERGY STAR Qualified Appliances
  5. Refrigerator
  6. Electric Range
  7. Microwave
  8. ENERGY STAR Qualified Water Heater
  9. Water Heater
Architectural Style
  1. Modern
Assessments
  1. Unknown
Builder Name
  1. Joe Halsell
Building Area Total
  1. 12770.00
Carport Spaces
  1. 2.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Construction Materials
  1. Stucco
  2. Drywall Walls
Cooling
  1. Ductless
Country
  1. US
Days On Market
  1. 149
Current Financing
  1. Conventional
Electric Expense
  1. 0.00
Entry Location
  1. Ground
Fencing
  1. None
Fireplace Features
  1. None
Flooring
  1. Vinyl
Fuel Expense
  1. 0.00
Garage Spaces
  1. 6.00
Gardner Expense
  1. 1800.00
Heating
  1. Solar
  2. Ductless
Insurance Expense
  1. 10800.00
Interior Features
  1. Wet Bar
  2. 2 Staircases
  3. Open Floorplan
  4. Formica Counters
Laundry Features
  1. Electric Dryer Hookup
  2. Washer Hookup
  3. Common Area
  4. Stackable
Levels
  1. Three Or More
Lockboxtype
  1. SentriLock
Lot Features
  1. Corner Lot
  2. Landscaped
  3. 6-10 Units/Acre
Netoperatingincome
  1. 486012.00
Newtaxesexpense
  1. 57000.00
Otherexpense
  1. 12000.00
Otherexpensedescription
  1. Turnover
Parcel Number
  1. 123131014
Pool Features
  1. None
Postalcodeplus4
  1. 3718
Professionalmanagementexpense
  1. 40248.00
Property Type
  1. Apartment
Property Condition
  1. Under Construction
Road Frontage Type
  1. City Street
Road Surface Type
  1. Paved
Roof
  1. Shingle
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 452273846:CRM
Spa Features
  1. None
Totalactualrent
  1. 0.00
Totalexpenses
  1. 151248.00
Trash Expense
  1. 0.00
Utilities
  1. Water Available
  2. Sewer Connected
  3. Cable Connected
  4. Electricity Connected
Vacancyallowance
  1. 33540
View
  1. City Lights
  2. Neighborhood
  3. Courtyard
Views
  1. 10
Virtual Tour Url
  1. https://my.matterport.com/show/?m=3ceBmwWHDWq
Water Sewer Expense
  1. 42000.00
Water Source
  1. Public
Window Features
  1. Insulated Windows
Year Built
  1. 2025
Year Built Source
  1. Builder
Zoning
  1. R3
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
Request More Information
  • All fields are required.