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Jaret & Kristi Ghent

ghentteam@gmail.com +1(808) 864-5942

$5,700,000

Est. payment - /mo

12,770 SqFt

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UPDATED:

02/14/2025 07:00 PM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 12,770 sqft

Price per Sqft $446

MLS Listing ID CRSC25029813

HOA Y/N No

Year Built 2025

Lot Size 0.415 Acres

Acres 0.41

Property Sub-Type Other

Property Description

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. The

Location

State CA

County Santa Barbara

Zoning R3

Interior

Heating Other, Solar

Cooling Other

Flooring Vinyl

Fireplace No

Appliance ENERGY STAR Qualified Appliances, Electric Water Heater

Laundry Other

Exterior

View Y/N true

View City Lights, Other

Building

Lot Description Corner Lot, Other

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 123131014

Virtual Tour https://my.matterport.com/show/?m=3ceBmwWHDWq

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© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.

Listed by Owen Schwaegerle • Keller Williams Realty Central Coast

_Our #1 priority is to find and attract mastery-based agents to partner with, protect our culture, and support our clients needs and desires."

+1(808) 864-5942

ghentteam@gmail.com

529 S Pine Street Santa Maria, CA 93458