223 E Tunnell St - Apartments FOR SALE


Santa Maria, CA 93454
$1,799,000 USD
805-781-6040
223 E Tunnell St, Santa Maria, CA for Sale
$1,799,000 USD
Apartments - FOR SALE
1/12
null | 4.84% Cap Rate

223 E Tunnell St
Santa Maria, CA 93454


HIGHLIGHTS

  • Central Location in Strong Rental Market
  • Large lot with future redevelopment potential
  • Strong occupancy history

OVERVIEW

Welcome to 223 East Tunnell in beautiful Santa Maria, CA. This is a rare opportunity to purchase a multi-family rental property on a large, centrally located parcel with strong current income and room for future growth. This unique property features seven (7) single-level casitas thoughtfully arranged around a charming common courtyard, creating a welcoming community setting for residents. The property consists of four separate building structures comprising four 1-bedroom units and three 2-bedroom units. Several casitas feature private backyard spaces, while all residents enjoy access to the shared green common area in the front. Current monthly rental income is over $12,000 per month, with tenants paying electric/gas on separate meters. Various units have a private backyard space, and all units have access to a green common area in the front. The rear parking lot, conveniently accessed via the alley, offers seven onsite parking spaces along with an owner’s storage shed that presents potential for conversion into onsite laundry facilities. 223 East Tunnell is primed for a new owner to implement their vision and maximize its potential. Call today for a private showing.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$362 USD /SF

# OF UNITS

7

PRICE/UNIT

$257,000

CAP RATE

4.84%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1940

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

R-2

APN/PARCEL ID

121-153-007

ASK ABOUT THIS PROPERTY

Erik Berg-JohansenCentral Coast Sotheby's International RealtyMore Info
805-781-6040

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Erik Berg-JohansenCentral Coast Sotheby's International RealtyMore Info
805-781-6040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.