529 S Pine St Santa Maria, CA 93458
Santa Maria West NeighborhoodEstimated payment $33,369/month
Highlights
- 0.41 Acre Lot
- Forced Air Heating System
- 5-minute walk to Buena Vista Park
About This Home
Are you looking for a high-yield, cash-flowing opportunity? 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 educated employees for local employers but also a source of inelastic demand for local apartments. Shown by appointment only.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $19,390
Year Built
- Built in 2025
Home Design
- 12,770 Sq Ft Home
- Slab Foundation
- Shingle Roof
- Composition Roof
Additional Features
- 42 Bedrooms
- 0.41 Acre Lot
- Forced Air Heating System
Community Details
- 8 Units
Listing and Financial Details
- Assessor Parcel Number 123131014
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 |
|---|---|---|---|---|
| 2023 | $19,390 | $857,200 | $367,200 | $490,000 |
| 2022 | $7,938 | $600,000 | $360,000 | $240,000 |
| 2021 | $7,309 | $555,697 | $252,589 | $303,108 |
| 2020 | $6,111 | $550,000 | $250,000 | $300,000 |
| 2019 | $1,006 | $88,138 | $39,426 | $48,712 |
| 2018 | $915 | $86,410 | $38,653 | $47,757 |
| 2017 | $903 | $84,717 | $37,896 | $46,821 |
| 2016 | $863 | $83,056 | $37,153 | $45,903 |
| 2014 | $808 | $80,208 | $35,879 | $44,329 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/14/2025 02/14/25 | For Sale | $5,700,000 | +936.4% | $446 / Sq Ft |
| 11/19/2019 11/19/19 | Sold | $550,000 | -- | $212 / Sq Ft |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $275,000 | First American Title | |
| Grant Deed | $550,000 | Fidelity National Title Co | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | -- | None Available | |
| Quit Claim Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $3,715,000 | Construction | |
| Previous Owner | $495,000 | Construction | |
| Previous Owner | $100,000 | Credit Line Revolving |
Source: North Santa Barbara County Regional MLS
MLS Number: 25000435
APN: 123-131-014
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