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Listed by Owen Schwaegerle • Owen Schwaegerle, Broker
$ 4,995,000
Est. payment /mo
Active
Santa Maria, CA 93458
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID SC-25262493
Year Built 2025
Property Sub-Type Multi Family
Source California Regional Multiple Listing Service (CRMLS)
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.
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
Interior
Heating Ductless, Solar
Laundry Common Area, Electric Dryer Hookup, Stackable, Washer Hookup
Exterior
Utilities Available Sewer Connected, Water Available, Cable Connected, Electricity Connected
Building
Lot Description Landscaped, Corner Lot, 6-10 Units/Acre
Others
Virtual Tour https://my.matterport.com/show/?m=3ceBmwWHDWq