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$3,325,000
Est. payment /mo
6 Beds
3 Baths
0.6 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-38773
Bedrooms 6
Lot Size 0.600 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
To be sold in conjunction with 123 S Bradley Road, Santa Maria (APN 125-053-007)115-123 S. Bradley Road presents a compelling value-add multifamily investment opportunity in Santa Maria, offering an attractive combination of in-place cash flow, significant rental upside, potential ADU development, and a highly accessible location. Built in 1964, this 13-unit property features a highly marketable and diversified unit mix consisting of six (6) one-bedroom/one-bathroom units, five (5) two-bedroom/one-bathroom units, and two (2) three-bedroom/one-bathroom units.The property also offers potential additional-density upside through ADU development. Pursuant to California Senate Bill (SB) 1211, multifamily property owners may be eligible to develop ADUs at a ratio of up to one ADU per existing unit, subject to applicable limitations, including a maximum of eight (8) ADUs and compliance with density, zoning, and building requirements. Two prominent areas of this property near the property's S. Bradley Road frontage appear to offer potential locations to build out, at least, some additional ADU units.115-123 S. Bradley Road combines an attractive acquisition basis with multiple identifiable value-creation drivers. The combination of below-market rents, potential additional density, recent capital improvements, commuter-oriented location, diversified unit mix, and limited multifamily inventory positions the property as an attractive opportunity for an investor seeking both current income and meaningful upside through active asset management.
Location
State CA
County Santa Barbara
Zoning Assessor
Direction Located between E. Main Street and E. Cypress Street
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 125053006
Acceptable Financing Cash
Listing Terms Cash
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Listed by Craig Lieberman, DRE#00682741 Apartment Investment Specialis
NEARBY SCHOOL & BUSINESS
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