223 E Tunnell St 7 Unit Apartment Building $1,799,000 ($257,000/Unit) 4.84% Cap Rate Santa Maria, CA 93454

Welcome to 223 East Tunnell in beautiful Santa Maria, CA. This is a rare opportunity to purchase a multi-family rental property on a large, centrally located parcel with strong current income and room for future growth. This unique property features seven (7) single-level casitas thoughtfully arranged around a charming common courtyard, creating a welcoming community setting for residents. The property consists of four separate building structures comprising four 1-bedroom units and three 2-bedroom units. Several casitas feature private backyard spaces, while all residents enjoy access to the shared green common area in the front. Current monthly rental income is over $12,000 per month, with tenants paying electric/gas on separate meters. Various units have a private backyard space, and all units have access to a green common area in the front. The rear parking lot, conveniently accessed via the alley, offers seven onsite parking spaces along with an owner’s storage shed that presents potential for conversion into onsite laundry facilities.
223 East Tunnell is primed for a new owner to implement their vision and maximize its potential. Call today for a private showing.