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Michelle Boghosian

michelleboghosianrealtor@gmail.com +1(805) 709-8899

$ 9,500,000

Est. payment -/mo

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Active

1324 N. N Broadway Santa Maria, CA 93454

3.95 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID V1-29532

HOA Y/N No

Year Built 1965

Lot Size 3.950 Acres

Property Sub-Type Mixed Use

Property Description

Exceptional Workforce Housing or Community Living Opportunity.1324 N. Broadway, Santa Maria, CAThis unique 4-acre property, featuring 100 fully-furnished cottages, is ideally suited for workforce housing, educational institutions, religious organizations, senior living facilities, or other large-scale community uses. For sale at $9.5MIL or for lease at $100K / month modified gross lease, this turn-key property is ready to accommodate a variety of tenant needs.Property Highlights100 Cottages - A mix of studio and larger units, each offering 2 to 4+ beds per room, providing approximately 300++ beds in total.Fully Furnished - Each room is currently equipped with beds, dressers, and blankets to facilitate immediate occupancy.Planned Upgrades - Owner has submitted permits for kitchenette installations in each unit to enhance livability.Recent Improvements - New roofs have been installed on all units.Vacant and Move-in Ready - No delays--this property is available for immediate tenancy.On-Site Amenities7,200 SF Restaurant & Meeting Hall - A spacious dining and event space, ideal for communal meals, training sessions, or organizational gatherings. Owner is open to bringing the restaurant up to code as needed.Outdoor Recreation - A soccer field, volleyball courts, and a playground provide ample space for leisure and physical activity.Food Service Flexibility -While the restaurant space is currently non-operational, food trucks have historically served the location daily and nightly, offering convenient meal options for residents. The owner is willing to bring the restaurant up to code.Lease StructureFor Sale at $9.5MIL ($95K / unit) or for lease on a Modified Gross Lease basis - Owner covers property taxes and insurance; tenants are responsible for utilities and property management.Santa Maria Workforce Housing Demand & Demographics:Santa Maria is one of California's fastest-growing cities, with a strong demand for affordable workforce housing driven by key industries such as agriculture, manufacturing, healthcare, and education.Population Growth - Over 110,000 residents, with a steady annual increase.Workforce Demand - Santa Maria is home to a large workforce, including farmworkers, service industry employees, and healthcare professionals who require accessible housing options.

Location

State CA

County Santa Barbara

Area Smia - Santa Maria

Zoning Commercial with Motel Use

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Inclusions All furniture and fixtures onsite.

Fireplace No

Appliance Gas Water Heater

Laundry Common Area

Exterior

Fence Average Condition

Pool None

Community Features Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks

View Y/N Yes

View Mountain(s)

Total Parking Spaces 20

Private Pool No

Building

Lot Description Sprinklers None

Story 1

Entry Level One

Sewer Septic Tank

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 121031024

Acceptable Financing Cash, Cash to New Loan, Conventional, Lease Option

Listing Terms Cash, Cash to New Loan, Conventional, Lease Option

Special Listing Condition Standard

Lease Land No

Listed by Andrew Adler • Century 21 Masters

Michelle Boghosian

Broker Associate | License ID: 01807879

+1(805) 709-8899

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Michelle Boghosian

1324 N. N Broadway Santa Maria, CA 93454

Key Details

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1324 N. N Broadway