614 W Orange St
Santa Maria, CA 93458
Multifamily Property For Sale · 4 Units
EXECUTIVE SUMMARY
Four separate cottages in an established residential area of Santa Maria. Unit mix includes 3 1Bed/1Bath apartments and 1 studio, each with separate electric and gas meters. New roofs in 2023. On a good-sized lot with alley access. Over 30% upside in rents. Buyer to check with the city about potential of adding ADU at back of property. This is a solid, bread-and-butter income property as-is and offers upside potential for the prudent buyer to increase rents and upgrade the property to increase the value of this asset.
PROPERTY FACTS
| Price Per Unit | $243,750 |
| Sale Type | Investment |
| Cap Rate | 4.53% |
| Gross Rent Multiplier | 13 |
| No. Units | 4 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.17 AC |
| Building Size | 1,680 SF |
| No. Stories | 1 |
| Year Built | 1908 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Pantry
SITE AMENITIES
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 3 | - | - |
ZONING
| Zoning Code | R3 |
