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Coral Apartments in Lompoc is a well maintained 22-unit multifamily apartment complex in Lompoc with upgraded copper plumbing, newer ABS sewer lines, newer gas heaters, upgraded tile bathrooms, and more. The (8) 1-bedroom and (14) studios apartments surround a tastefully landscaped courtyard, and residents enjoy the comfort of security gates and camera system in addition to on-site parking and a common laundry room. The property is operated subject to an affordable covenant that expires in 2034 which restricts the renting of the apartments to "Low" or "Very Low" Income Households. Even with the affordable restrictions, there is strong upside in rents that can yield a Proforma CAP rate of 9.6% giving the savvy investor "value-add" opportunity in the short term with additional upside once the affordable agreement expires.
Property Type(s):
Residential Income
| Last Updated | 7/22/2025 | Tract | North East Lmpc(47) |
|---|---|---|---|
| Year Built | 1960 | Community | LOMP - Lompoc |
| County | Santa Barbara |
Additional Details
| AIR | None |
|---|---|
| AREA | LOMP - Lompoc |
| HEAT | Wall Furnace |
| LOT | 0.53 acre(s) |
| PARKING | On Site, Off Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | North East Lmpc(47) |
| WATER | Public |
Location
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Listed with Steven Battaglia, Broker
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2025.
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