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Listed by Owen Schwaegerle • Owen Schwaegerle, Broker
$4,995,000
Est. payment /mo
0.41 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSC25262675
Style Contemporary
Year Built 2025
Lot Size 0.415 Acres
Source California Regional MLS
Property Description
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 Colle
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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