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Listed by Craig Lieberman, DRE #00682741 • Apartment Investment Specialis
$ 3,325,000
Est. payment /mo
Active
115 S Bradley RD Santa Maria, CA 93454
0.6 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-38773
Year Built 1964
Lot Size 0.600 Acres
Source California Regional MLS
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
Location
State CA
County Santa Barbara
Area Smia - Santa Maria
Rooms
Kitchen Refrigerator, Oven - Gas
Interior
Heating No Heating
Cooling None
Laundry None
Exterior
Parking Features Carport
Garage Spaces 25.0
Pool 31, None
View None
Others
Tax ID 125053006
Special Listing Condition Not Applicable
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