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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 area is also located along historic Route 101 and perfectly located between San Luis Obispo and Santa Barbara. It offers the best of Central Coast living with its beautiful weather, friendly community, and endless opportunities for outdoor adventure. Enjoy stunning beaches, world-class wineries, excellent colleges and a thriving local economy.Shown by appointment only.
Property Type(s):
Residential Income
| Last Updated | 2/14/2025 | Year Built | 2025 |
|---|---|---|---|
| Community | Santa Maria | Garage Spaces | 6.0 |
| County | Santa Barbara |
Additional Details
| AIR | Ductless |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Microwave, Refrigerator, Water Heater |
| AREA | Santa Maria |
| CONSTRUCTION | Drywall, Stucco |
| GARAGE | Yes |
| HEAT | Ductless, Solar |
| INTERIOR | All Bedrooms Up, Laminate Counters, Multiple Staircases, Open Floorplan, Wet Bar |
| LOT | 0.41 acre(s) |
| LOT DESCRIPTION | Corner Lot, Landscaped |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| STYLE | Modern |
| UTILITIES | Cable Connected,Electricity Connected,Sewer Connected,Water Available |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights,Courtyard,Neighborhood |
| WATER | Public |
| ZONING | R3 |
Location
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Listed with Keller Williams Realty Central Coast
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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