529 S Pine Street
Santa Maria, CA 93458
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 2025 build
- – on site
Are you looking for a high-yield, cash-flowing opportunity? This innovative co-living property is designed for maximum rental income and strong returns. This project has gone through several years of planning, approvals, and construction and is finally near completion! Each of the units is designed for high occupancy, on a rent-by-the-room basis. There are 6 five bedroom units and 2 six bedroom units for a total of 42 bedrooms! The individual rooms have smart locks with combo codes to allow for individual living arrangements. There are shared bathrooms and a kitchen for a communal, dorm-style living experience. This is the way to optimize your rental rate on a square footage basis. Developer's projected monthly income is $48,500, which would yield $582,000 gross per year! Property is located in an "Opportunity Zone" that offer strategic tax advantages to developers and investors, minimizing capital gains taxes. If you are seeking a value-add opportunity and an investment project that will set you up with passive income upon completion, this is it! Conveniently located near Hancock College and Vandenberg Space Force Base. The local universities provide not only a pipeline of well educated employees for local employers but also a source of inelastic demand for local apartments. The area is also located along historic Route 101 and perfectly located between San Luis Obispo and Santa Barbara. It offers the best of Central Coast living with its beautiful weather, friendly community, and endless opportunities for outdoor adventure. Enjoy stunning beaches, world-class wineries, excellent colleges and a thriving local economy. Shown by appointment only.
Last checked:
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Last updated Mar 18, 2025
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MLS# SC25029813 —
The Building
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Year Built:2025
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Year Built Source:Builder
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New Construction:Yes
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Construction Materials:Drywall Walls, Stucco
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Building Area Total:12770.00
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Building Area Units:Square Feet
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Total Number Of Units:8
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# of Buildings:2
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Builder Name:Joe Halsell
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Architectural Style:Modern
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Roof:Shingle
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Stories Total:3
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:8
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# of Separate Electric Meters:8
Interior
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Features:2 Staircases, Formica Counters, Open Floorplan, Wet Bar
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Levels:Three Or More
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Entry Location:Ground
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Window Features:Insulated Windows
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Flooring:Vinyl
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Room Type:All Bedrooms Up, Family Room, Kitchen, Laundry, Living Room
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Fireplace:No
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Fireplace:None
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Laundry:Common Area, Electric Dryer Hookup, Stackable, Washer Hookup
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Laundry:1
Location
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Directions:This property is located at the corner of S Pine and W Boone
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Latitude:34.94739000
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Longitude:-120.43938000
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Property Condition:Under Construction
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Zoning:R3
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Lot Features:Corner Lot, Landscaped
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Lot Size Area:18060.0000
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Lot Size Acres:0.4146
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Lot Size SqFt:18060.00
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Lot Size Source:Appraiser
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View:1
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View:City Lights, Courtyard, Neighborhood
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Fencing:None
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Fence:No
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Road Frontage:City Street
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Road Surface Type:Paved
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:D
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Tax Census Tract:22.06
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Tax Lot:6
The Listing
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Special Listing Conditions:Standard
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Parcel Number:123131014
Heating & Cooling
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Heating:1
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Heating:Ductless, Solar
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Cooling:Yes
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Cooling:Ductless
Utilities
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Utilities:Cable Connected, Electricity Connected, Sewer Connected, Water Available
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Electric Oven, Electric Range, Electric Cooktop, Electric Water Heater, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Microwave, Refrigerator, Water Heater
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Included:Yes
The Community
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Features:Dog Park, Hiking, Watersports, Sidewalks, Suburban, Urban
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:Yes
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Assessments:Unknown
Parking
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Parking Spaces:8.00
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Garage Spaces:6.00
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Carport Spaces:2.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/14/25
Feb 14, 2025
|
Listed / Active | CRMLS_CA | $5,700,000 | 936.4% (178.6% / YR) |
|
11/19/19
Nov 19, 2019
|
CRMLS_CA | $550,000 | -4.3% | |
|
10/14/19
Oct 14, 2019
|
CRMLS_CA | $575,000 |
