616 W. Cook St
Santa Maria, CA 93458 ·
24 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|No. Units||24||Cap Rate||5.29%|
|Building Size||23,152 SF||Gross Rent Multiplier||11.03|
|Property Type||Multifamily||Lot Size||36,154 SF|
|Listing ID: 15806987||Date Created: 07/17/2008||Last Updated: 10/06/2008|
The impeccable 24-unit Medallion Manor Apartments located at 616 West Cook Street offer an investor an excellent opportunity to acquire a superb investment property in an excellent part of the fastgrowing City of Santa Maria. The property consists of all 2-bedroom, 1-bath units except for one 1-bedroom, 1-bath unit. The property was recently painted and had the roofs replaced approx. two years ago. The property benefits from onsite laundry facilities as well as twelve 2-car garages and ample off-street parking. All units are spacious and several have newer appliances, paint and carpets. The property is individually metered for gas and electricity and is well located near schools, the Town Center Mall and the new Santa Maria Public Library. Please contact our office for further information or to schedule a tour.
The city of Santa Maria is situated in the Santa Maria Valley, an area nestled between the foothills of Santa Barbara County' s wine country and the heart of California' s Central Coast. Santa Maria is conveniently located 75 miles north of Santa Barbara, 170 miles north of Los Angeles and 270 miles south of San Francisco. The area enjoys a colorful history as it has been home to millennia of sophisticated indigenous cultures; early Spanish-California explorers and settlers (brought by discoverer Juan Cabrillo); Mexican and golden-era American cultures. The famous legend of Zorro is said to take place in the nearby Solomon Hills. The area relishes in the romanticism the region' s wine industry brings and enjoys a rich agricultural heritage still evidenced by the vast tracks of farmland surrounding the cityscape. Oil was discovered in the Santa Maria Valley in 1904 near what is now the small township of Orcutt, just a few minutes south of Santa Maria. The oil industry flourished for the next 80 years.
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