$ 4,995,000
-
$4,995,000
Price -
42
Bed -
16
Bath -
12,770
SqFt
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About the Listing SC40597 - sl02040597
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.
Listing Highlights
Interior Details
- Bedrooms: 42
- Bathrooms: 16 Full
- Appliances: ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Microwave, Refrigerator, Water Heater
- Air Cond: Ductless
- Heating: Ductless,Solar
- Fireplaces:
- Floor: Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Wet Bar,Laminate Counters,Multiple Staircases,Open Floorplan,All Bedrooms Up
- Water: Public
Exterior Details
- Lot Description: 6-10 Units/Acre,Corner Lot,Landscaped,No Land Lease
- Garage Capacity: 6 car
- Parking Spaces: 8
- Zoning: R3
- Roof: Shingle
- Others: Under Construction,Drywall,Stucco,2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 123131014
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
529 S Pine St Santa Maria, CA 93458
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