223 E Tunnell ST new Save Request In-Person Tour Request Virtual Tour
Santa Maria,CA 93454
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Sm Northeast(910)
MLS Listing ID PI25158857
HOA Y/N No
Year Built 1940
Lot Size 0.430 Acres
Property Sub-Type Apartment
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, there's strong potential for rent growth.
Location
State CA
County Santa Barbara
Area Smne - Sm Northeast
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry None
Exterior
Parking Features Off Street,One Space,Uncovered
Pool None
Community Features Sidewalks
Roof Type Flat
Total Parking Spaces 7
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 121153007
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard