1324 N Broadway Santa Maria, CA 93454
Donovan Park NeighborhoodEstimated payment $62,523/month
Highlights
- 3.95 Acre Lot
- Laundry Room
- Fenced
- Mountain View
- Bike Trail
- Wall Furnace
About This Home
Exceptional Workforce Housing or Community Living Opportunity.1324 N. Broadway, Santa Maria, CAThis unique 4-acre property, featuring 100 fully-furnished cottages, is ideally suited for workforce housing, educational institutions, religious organizations, senior living facilities, or other large-scale community uses. For sale at $9.5MIL or for lease at $100K / month modified gross lease, this turn-key property is ready to accommodate a variety of tenant needs.Property Highlights100 Cottages - A mix of studio and larger units, each offering 2 to 4+ beds per room, providing approximately 300++ beds in total.Fully Furnished - Each room is currently equipped with beds, dressers, and blankets to facilitate immediate occupancy.Planned Upgrades - Owner has submitted permits for kitchenette installations in each unit to enhance livability.Recent Improvements - New roofs have been installed on all units.Vacant and Move-in Ready - No delays--this property is available for immediate tenancy.On-Site Amenities7,200 SF Restaurant & Meeting Hall - A spacious dining and event space, ideal for communal meals, training sessions, or organizational gatherings. Owner is open to bringing the restaurant up to code as needed.Outdoor Recreation - A soccer field, volleyball courts, and a playground provide ample space for leisure and physical activity.Food Service Flexibility -While the restaurant space is currently non-operational, food trucks have historically served the location daily and nightly, offering convenient meal options for residents. The owner is willing to bring the restaurant up to code.Lease StructureFor Sale at $9.5MIL ($95K / unit) or for lease on a Modified Gross Lease basis - Owner covers property taxes and insurance; tenants are responsible for utilities and property management.Santa Maria Workforce Housing Demand & Demographics:Santa Maria is one of California's fastest-growing cities, with a strong demand for affordable workforce housing driven by key industries such as agriculture, manufacturing, healthcare, and education.Population Growth - Over 110,000 residents, with a steady annual increase.Workforce Demand - Santa Maria is home to a large workforce, including farmworkers, service industry employees, and healthcare professionals who require accessible housing options.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $96,678
Year Built
- Built in 1965
Lot Details
- 3.95 Acre Lot
- Two or More Common Walls
- Fenced
- Fence is in average condition
- No Sprinklers
Home Design
- Property Attached
Interior Spaces
- 47,000 Sq Ft Home
- 1-Story Property
- Mountain Views
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 1 Bathroom
Parking
- 20 Parking Spaces
- Parking Available
Outdoor Features
- Exterior Lighting
Utilities
- Wall Furnace
- Gas Water Heater
- Conventional Septic
Listing and Financial Details
- Assessor Parcel Number 121031024
Community Details
Overview
- 11 Buildings
- 100 Units
Amenities
- Laundry Facilities
Recreation
- Bike Trail
Building Details
- 100 Leased Units
- Rent Control
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $31,010
- Insurance Expense $47,909
- Professional Management Expense $2,669
- Trash Expense $10,000
- Water Sewer Expense $45,660
- Operating Expense $342,275
- Gross Income $1,333,333
- Net Operating Income $990,058
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2021 | $96,678 | $7,677,632 | $3,822,399 | $3,855,233 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/23/2025 04/23/25 | For Sale | $9,500,000 | 0.0% | $202 / Sq Ft |
| 03/07/2025 03/07/25 | For Rent | $100,000 | -- | -- |
Source: Ventura County Regional Data Share
MLS Number: V1-29532
APN: 121-031-024
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
- 217 E Orchard St Unit B
- 211 E Orchard St Unit C
- 207 E Orchard St Unit C
- 1402 N Miller St
- 1009 N Thornburg St
- 1510 N Curryer St
- 212 W Monroe St
- 1314 N Railroad Ave
- 512 N Lincoln St
- 503 E Monroe St
- 715 Seaside Dr
- 117 W Fesler St Unit A,B,C,D,E
- 1622 Pacific Grove Place
- 323 Vine St
- 911 W Lee Dr
- 1312 Charlotte Dr
- 303 N Lincoln St
- 1838 Barrington Dr
- 215 N Miller St
- 420 N Railroad Ave