529 S Pine Street, Santa Maria, CA 93458

• 12,770 sqft

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, farm workers, 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 is now complete. 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. 3 of the units are to be leased out to a local farmer and filled with migrant workers on a one year lease. The projected rental income for those 3 units is about $4,200 per month. Given this rental rate, the projected rental income for the entire building would be around $30,000 per month. This would bring the annual gross income to $360,000, which supports a 4.6% 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 College just minutes away and the consistent need for farm labor, the property benefits from a steady flow of students and seasonal workers seeking affordable, flexible housing. This consistent renter base will support strong occupancy levels year-round. If this investment fits what you’ve been looking for, contact us to arrange a private showing.

Listing Status:

Active

Date Added:

November 21, 2025

Data Last Updated:

May 1, 2026 at 4:16AM

Listing Office:

The Schwaegerle Team : 805-776-3036

Listing Agent:

Owen Schwaegerle : 805-776-3036

MLS ID:

SC25262493

Interior

• Laundry: Common AreaWasher HookupElectric Dryer HookupStacked
• A/C: Ductless
• Heating: DuctlessSolar

Exterior

• Parking: Parking spaces: 2

Construction

• Roofing: Shingle
• General: DrywallStucco3

Location

• Originating MLS: CRMLS_CRM
• County: Santa Barbara

Lot

• Zoning: 123131014
• Fencing: None

Utilities

• Utilities: Cable ConnectedElectricity ConnectedSewer ConnectedWater Available
• Water: Public

Financial

• Source: CRMLS_CRM