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529 Pine Street, Santa Maria, CA 93458
Priced at Only: $4,995,000
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Address: 529 Pine Street, Santa Maria, CA 93458
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  • MLS#: SC25262493 ( Multi Family )
  • Street Address: 529 Pine Street
  • Viewed: 3
  • Price: $4,995,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2025
  • Bldg sqft: 0
  • Days On Market: 111
  • Additional Information
  • County: SANTA BARBARA
  • City: Santa Maria
  • Zipcode: 93458
  • Provided by: Owen Schwaegerle, Broker
  • 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 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, contact us to arrange a private showing.
Features
Assetclass
  1. Multi-Family
Builder Name
  1. Joe Halsell
Building Area Total
  1. 12770.00
Carport Spaces
  1. 2.00
Commoninterest
  1. Community Apartment
Construction Materials
  1. Drywall Walls
  2. Stucco
Cooling
  1. Ductless
Country
  1. US
Current Financing
  1. Conventional
Electric Expense
  1. 0.00
Fencing
  1. None
Heating
  1. Ductless
  2. Solar
Insurance Expense
  1. 10800.00
Land Use
  1. Multi-Family
Laundry Features
  1. Common Area
  2. Electric Dryer Hookup
  3. Stackable
  4. Washer Hookup
Netoperatingincome
  1. 486012.00
Otherexpense
  1. 12000.00
Parcel Number
  1. 123131014
Postalcodeplus4
  1. 3718
Professionalmanagementexpense
  1. 40248.00
Property Type
  1. Multi Family
Roof
  1. Shingle
Totalexpenses
  1. 151248.00
Trash Expense
  1. 0.00
Utilities
  1. Cable Connected
  2. Electricity Connected
  3. Sewer Connected
  4. Water Available
Virtual Tour Url
  1. https://my.matterport.com/show/?m=3ceBmwWHDWq
Water Sewer Expense
  1. 42000.00
Water Source
  1. Public
Year Built
  1. 2025
Year Built Source
  1. Builder
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
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