Homes for sale - 529 S Pine ST, Santa Maria, CA 93458

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JLee Broker

[email protected] +1(650) 857-1000

Listed by Owen Schwaegerle • Keller Williams Realty Central Coast

$5,700,000

Est. payment - /mo

0.41 Acres Lot

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSC25029813

Style Contemporary

Originating Board California Regional MLS

Year Built 2025

Lot Size 0.415 Acres

Property Description

Are you looking for a high-yield, cash-flowing opportunity? Proforma net operating income would offer a 7.6% cap rate at the purchase price of $5,700,000. This innovative co-living property is designed for maximum rental income and strong returns. This project has gone through several years of planning, approvals, and construction and is finally near completion! Each of the units is designed for high occupancy, on a rent-by-the-room basis. There are 6 five bedroom units and 2 six bedroom units for a total of 42 bedrooms! The individual rooms have smart locks with combo codes to allow for individual living arrangements. There are shared bathrooms and a kitchen for a communal, dorm-style living experience. This is the way to optimize your rental rate on a square footage basis. Developer's projected monthly income is $48,500, which would yield $582,000 gross per year! Property is located in an "Opportunity Zone" that offer strategic tax advantages to developers and investors, minimizing capital gains taxes. If you are seeking a value-add opportunity and an investment project that will set you up with passive income upon completion, this is it! Conveniently located near Hancock College and Vandenberg Space Force Base. The local universities provide not only a pipeline of well educ

Location

State CA

County Santa Barbara

Area Smia - Santa Maria

Rooms

Kitchen Microwave, Other, Oven Range - Electric, Refrigerator, Oven - Electric

Interior

Heating Solar

Laundry Laundry Area, 30, Stacked Only, 9

Exterior

Garage Spaces 8.0

Pool 31, None

View Local/Neighborhood, City Lights

Roof Type Shingle

Building

Story Three or More Stories

Water Hot Water, District - Public

Architectural Style Contemporary

Others

Tax ID 123131014

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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529 S Pine ST Santa Maria, CA 93458

JLee Broker

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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