Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
2025
Sq.Footage
N/A
Are you the kind of investor who is looking for the next high-income producing opportunity? Are you excited by a multi-family building designed for student housing or communal living? If so, this deal is for you. This newly built co-living property has been years in the making, with extensive planning, approvals, and construction now nearing completion. The property was designed specifically for student and communal living. It offers 42 total bedrooms across six 5-bedroom units and two 6-bedroom units. Each bedroom has its own smart lock, and the shared kitchens and bathrooms create a practical setup for communal, dorm-style living that helps maintain high occupancy and steady income. The projected numbers are strong. The developer anticipates monthly income of $55,900 dollars and annual gross income of $670,800 dollars, which supports a 9.7% percent cap rate at a purchase price of $4,995,000 dollars. The property is also located in an Opportunity Zone, providing valuable tax advantages that can enhance long-term returns. If you want an investment that rewards effort, demands smart management, and delivers the kind of cash flow most properties can’t touch, this one deserves your attention. The location offers the kind of built-in demand investors look for. With Hancock College just minutes away and the consistent need for farm labor, the property benefits from a steady flow of students and seasonal workers seeking affordable, flexible housing. This consistent renter base will support strong occupancy levels year-round. If this investment fits what you’ve been looking for, contact us to arrange a private showing.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Ductless
-
Heating YN
YES
-
Heating
Active Solar, Ductless, Solar
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Stucco
-
Pool
No
Area & Lot
-
Lot Features
Corner Lot, Landscaped
-
Lot Size(acres)
0.4146
-
Property Type
Commercial Sale
-
Property Sub Type
Multi Family
Price
-
Sales Price
$4,995,000
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
3
-
Water Source
Public
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Location
County
Santa Barbara
Elementary School
Middle School
High School
Listing Courtesy of Owen Schwaegerle , Owen Schwaegerle, Broker
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FOUNDER
Lina Mirza
Call Lina today to schedule a private showing.
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