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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$4,995,000

Est. payment - /mo

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SC25262675

Construction Status Under Construction

HOA Y/N No

Year Built 2025

Property Sub-Type Apartment

Property 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 can't 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 you've been looking for, contact us to arrange a private showing.

Location

State CA

County Santa Barbara

Area Smia - Santa Maria

Zoning R3

Interior

Interior Features Wet Bar, Laminate Counters, Multiple Staircases, Open Floorplan, All Bedrooms Up

Heating Ductless, Solar

Cooling Ductless

Flooring Vinyl

Fireplaces Type None

Fireplace No

Appliance ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Microwave, Refrigerator, Water Heater

Laundry Common Area, Washer Hookup, Electric Dryer Hookup, Stacked

Exterior

Garage Spaces 6.0

Carport Spaces 2

Garage Description 6.0

Fence None

Pool None

Community Features Dog Park, Hiking, Suburban, Sidewalks, Urban, Water Sports

Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Available

View Y/N Yes

View City Lights, Courtyard, Neighborhood

Roof Type Shingle

Total Parking Spaces 8

Private Pool No

Building

Lot Description 6-10 Units/Acre, Corner Lot, Landscaped

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Architectural Style Modern

Level or Stories Three Or More

New Construction Yes

Construction Status Under Construction

Others

Senior Community No

Tax ID 123131014

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

Virtual Tour https://my.matterport.com/show/?m=3ceBmwWHDWq

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Listed by Owen Schwaegerle Owen Schwaegerle, Broker 805-215-5063

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529 S Pine ST Santa Maria, CA 93458