529 S Pine Street

Santa Maria, CA 93458

$5,700,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

2025

calendar_month Built

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 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.

Listing Information

List Price $5,700,000
Status Active
MLS SC25029813
Type Residential Income
Subtype Apartment
Year Built 2025
Lot Size 18,060
Structure Size N/A
Courtesy Of Keller Williams Realty Central Coast
Listing Agent Owen Schwaegerle DRE#02040597
Co-Listing Agent Camille Schwaegerle DRE#02107467

Interior Features

Laundry Information
Location(s) Common Area, Washer Hookup, Electric Dryer Hookup, Stacked
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Wet Bar, Laminate Counters, Multiple Staircases, Open Floorplan, All Bedrooms Up
Cooling Type
Cooling Type Ductless
Heating Type
Heating Type Ductless, Solar

Exterior Information

Other Structures
Views City Lights, Courtyard, Neighborhood

Maps

Listing information courtesy of: Owen Schwaegerle, Camille Schwaegerle, Keller Williams Realty Central Coast . *Based on information from the Association of REALTORS/Multiple Listing as of Feb 14th, 2025 at 6:09 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.