1106 W Cypress Street, Santa Maria, Santa Barbara County, CA, 93458 Silicon Valley CA US

For Sale : USD 899000

MLS #: PI22249410

Property image - 1106 W Cypress Street, Santa Maria, Santa Barbara County, CA, 93458 Silicon Valley CA US

Additional property image - 1106 W Cypress Street, Santa Maria, Santa Barbara County, CA, 93458 Silicon Valley CA US

Details

Bed Rooms

3

Bath Rooms

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