115 S Bradley Road, Santa Maria, CA 93454
- $3,325,000
- List Price
- $3,325,000
- Status
- ACTIVE
- MLS#
- V1-38773
- Year Built
- 1964
- Lot Size
- 26,136
- Acres
- 0.60
- Lot Location
- Sprinklers None
- Days on Market
- 1
- Property Type
- Multifamily
- Neighborhood
- Not Applicable
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 capital improvements, commuter-oriented location, diversified unit mix, and limited multifamily inventory positions the property as an attractive opportunity for an investor seeking both current income and meaningful upside through active asset management.
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Additional Information
- Appliances
- Gas Oven, Refrigerator
- Pool Description
- None
- Heat
- None
- Cooling Description
- None
- View
- None
- Garage Spaces Total
- 2
- Attached Structure
- Detached
- Number Of Units Total
- 13
- Gross Scheduled Income
- $274,752
- Operating Expense
- 110970
Listing courtesy of Listing Agent: Craig Lieberman (craig@ais-realestate.com) from Listing Office: Apartment Investment Specialis.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.