Property Details
About this Property
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
MLS Listing Information
MLS #
CRSC25029813
MLS Source
California Regional MLS
Days on Site
74
Interior Features
Appliances
Microwave, Other, Oven - Electric, Oven Range - Electric
Heating
Solar
Exterior Features
Roof
Shingle
Style
Contemporary
Parking, School, and Other Information
Garage/Parking
Garage: 6 Car(s)
Contact Information
Listing Agent
Owen Schwaegerle
Keller Williams Realty Central Coast
License #: 02040597
Phone: –
Co-Listing Agent
Camille Schwaegerle
License #: 02107467
Phone: (805) 215-5073
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 0 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
529 S Pine St is a Residential Income in Santa Maria, CA 93458. This – square foot property sits on a 18,060 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $5,700,000 and was built in 2025. This address can also be written as 529 S Pine St, Santa Maria, CA 93458.
©2025 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
Presently MLSListings.com displays Active, Contingent, Pending, and Recently Sold listings. Recently Sold listings are properties which were sold within the last three years. After that period listings are no longer displayed in MLSListings.com. Pending listings are properties under contract and no longer available for sale. Contingent listings are properties where there is an accepted offer, and seller may be seeking back-up offers. Active listings are available for sale.
This listing information is up-to-date as of April 10, 2025. For the most current information, please contact Owen Schwaegerle
