1106 W Cypress Street, Santa Maria, Santa Barbara County, CA, 93458 Silicon Valley CA US
Property Details
Bedrooms
3
Bathrooms
2
Neighborhood
Santa Maria Valley
Property Type
MultiFamily
Description
Incredible opportunity to own a prime 4-plex in an OPPORTUNITY ZONE located in Santa Maria. This building consists of four 2 bedrooms/1 bathroom units. Nestled along a residential street surrounded by primarily single-family homes in the quickly growing community of Santa Maria. 100% occupied multifamily complex with the opportunity for stabilized rent growth due to all month-to-month tenancies. A value-add business plan would bring current rents from an average of $1,300 per unit or $8,000 /month gross. Affordable Santa Maria submarket with convenient access to wineries, employment opportunities, and a short commute to Pismo Beach (30 minutes) and to Santa Barbara (60 minutes). Increased population growth in Santa Maria is at a growing rate of 0.92% annually and the population increased by 1.85% since the most recent census (2020). Supply-constrained submarket with a 3.5% vacancy rate in the Santa Maria submarket, with a 15% asking rent growth in the past 12 months. Investment in these zones through special funds called Opportunity Funds will be allowed to defer or eliminate federal taxes on capital gains earned from the sale of stock, business assets, or property. Call for more information at (805)478-0892. Find out more about this property. Request details here
Location
Address
1106 Cypress Street, Santa Maria, California 93458, United States
City
Santa Maria
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