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$3,325,000
Est. payment /mo
0.6 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-38773
HOA Y/N No
Year Built 1964
Lot Size 0.600 Acres
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
Area Smia - Santa Maria
Interior
Heating None
Cooling None
Fireplaces Type None
Fireplace No
Appliance Gas Oven, Refrigerator
Laundry None
Exterior
Parking Features Carport
Garage Spaces 2.0
Garage Description 2.0
Fence Wood
Pool None
Community Features Street Lights, Sidewalks
View Y/N No
View None
Total Parking Spaces 25
Private Pool No
Building
Lot Description Sprinklers None
Others
Senior Community No
Tax ID 125053006
Energy Description 4549.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Craig Lieberman Apartment Investment Specialis #00682741