529 South Pine Street Santa Maria, CA 93458
12,770 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 12,770 sqft
Price per Sqft $391
MLS Listing ID SC-25262675
Style Modern
Year Built 2025
Lot Size 0.415 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
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 2 Staircases, Formica Counters, Open Floorplan, Wet Bar
Heating Ductless, Solar
Flooring Vinyl
Fireplaces Type None
Laundry Common Area, Electric Dryer Hookup, Stackable, Washer Hookup
Exterior
Garage Spaces 6.0
Pool None
Community Features Dog Park, Hiking, Sidewalks, Suburban, Urban, Watersports
Utilities Available Sewer Connected, Water Available, Cable Connected, Electricity Connected
View Y/N Yes
View City Lights, Courtyard
Building
Lot Description Corner Lot, Landscaped, 6-10 Units/Acre
Sewer Other, Public Sewer
Others
Virtual Tour https://my.matterport.com/show/?m=3ceBmwWHDWq