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1314 S Broadway 125 Res / 2 Com, SANTA MARIA, CA 93454

$13,800,000
Property Type: Res Inc Lot Size (sq. ft.): 217,800 Status: Closed
Current Price: $13,800,000 List Date: 4/19/2022 Last Modified: 9/15/2024

Overview

Description

Only 80% of the ownership interest sold for $13,800,000. First time on the market in more than 25 years! This unique asset, comprising 125 residential units and 2 commercial units, is a rare find located smack in the center of Santa Maria, CA a rapidly growing city roughly 60 miles north of Santa Barbara and 160 miles north of Los Angeles. The asset, situated in the city's prime shopping area close to all the best neighborhood amenities, consists of a 3-story complex on nearly 5 acres. Once a hotel, the building now features 125 residential units that are predominantly studio configurations. Additionally, the lot offers an approximately 16,000 SF vacant commercial structure with fully approved plans to build an additional 52 units on site.

Supplements: The existing building boasts expansive common areas, carports, pleasant landscaping and a common area courtyard with swimming pool. There is a plethora of options for a new investor to capitalize on the asset's prime location and building size, with potential to increase rental income substantially. While the units are currently utilized as senior ...

Listing Details MLS# 22-1209

Location Info

District
60 - SANTA MARIA
Street #
1314
Dir
S
Street Name
Broadway
Unit/Space #
125 Res / 2 Com
State
CA
Country
US
Postal Code
93454
Compass Map
Santa Maria
Map Grid
6F
County
Santa Barbara
Parcel Number
128-065-008
Cross Street
E. Stowell Rd

Contract Info

Price
18995000
Buyers Agent $/%
1.25
Begin Date
2022-04-19

Status Information

Sold Date
2022-06-21
Under Contract Date
2022-04-19

Property Information

Number of Units
125
Apx # Acres
5
Recurring Fees
No
Year Built
0

Remarks

Hot Sheet Comment
new

Owner Info

Deposit
3

More Information

Unit 1

# Units
127
# Bedrooms
126
# Baths
125
Furnished
N
Rent
98750
Monthly Total
98750
# Half Baths
0

Neighborhood/Schools

Elementary School
Other
Junior High School
Other
High School
Other

Proximity

Near Bus
Yes
Near Shopping
Yes

Amenities

Pool
Yes

Zoning

Other
Yes

Terms

Cash
Yes

Listing Type

ER
Yes

Exchange

Other
Yes

Property Features

Proximity: Near Bus; Near Shopping Amenities: Pool Zoning: Other Exchange: Other Terms: Cash Listing Type: ER
IDX
Listing Office: Radius Group Commercial R.E.
Last Updated: September - 15 - 2024
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.

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