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Listed by Andrew D Adler • Century 21 Masters
$9,500,000
Est. payment /mo
47,000 SqFt
New
1324 North Broadway Santa Maria, CA 93454
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Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 47,000 sqft
Price per Sqft $202
MLS Listing ID V1-29532
Year Built 1965
Lot Size 3.950 Acres
Property Sub-Type Commercial/Residential
Property Description
Exceptional Workforce Housing or Community Living Opportunity.
1324 N. Broadway, Santa Maria, CA
This 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 Highlights
• 100 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 Amenities
• 7,200 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 Structure
• For 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.
1324 N. Broadway, Santa Maria, CA
This 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 Highlights
• 100 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 Amenities
• 7,200 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 Structure
• For 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.
Laundry Common Area, Community
Exterior
Pool None
Community Features Biking, Curbs, Sidewalks, Storm Drains, Street Lights
View Y/N Yes
View Mountain(s)
Building
Lot Description Sprinklers None
Sewer Conventional Septic