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.
|
DAYS ON MARKET
|
21
|
LAST UPDATED
|
4/24/2025
|
|
TRACT
|
Not Applicable
|
YEAR BUILT
|
1965
|
|
COMMUNITY
|
Santa Maria
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COUNTY
|
Santa Barbara
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
None |
| APPLIANCES |
Gas Water Heater |
| AREA |
Santa Maria |
| HEAT |
Wall Furnace |
| HOA DUES |
0 |
| LOT |
3.95 acre(s) |
| LOT DESCRIPTION |
Sprinklers None |
| POOL DESCRIPTION |
None |
| SEWER |
Septic Tank |
| STORIES |
1 |
| SUBDIVISION |
Not Applicable |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Mountain(s) |
| WATER |
Public |
| ZONING |
Commercial with Motel Use |
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Listed with Century 21 Masters
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/13/25 5:13 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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