223 E Tunnell Street new Save Request In-Person Tour Request Virtual Tour
Santa Maria,CA 93454
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Sm Northeast(910)
MLS Listing ID PI25158857
Bedrooms 4
Property Sub-Type Res Income 2-4 Units
Property Description
Located near downtown Santa Maria, this 7-unit apartment complex sits on a large corner lot and features three duplexes arranged around a central courtyard, plus a standalone building with a storage garage. The unit mix includes (3) 2Bed/1Bath units and (4) 1Bed/1Bath units ranging in size from approximately 950 to 600 SF. Originally constructed in the 1940s, many of the buildings retain craftsman-style touches such as built-in shelving and kitchen nooks. Each unit is individually metered for gas and electricity. Set on an 18,730 SF fenced lot, the site offers 7 uncovered parking spaces along with additional street parking on Tunnell St and Vine St. The location offers convenient access to public transit, retail, and other amenities. CAP Rate on current rents is 5.12% with a GRM of 12.03. While some TLC is needed, theres strong potential for rent growth.
Location
State CA
County Santa Barbara
Zoning Public Rec
Direction Exit 101 at Main Street, go West. Turn right onto Broadway. Turn right onto E Tunnell St. Propert is on your left in the second
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Tax ID 121153007