Rare investment opportunity in Santa Maria - 360 E. NEWLOVE DR. This centrally located 1.2-acre parcel of R2 Medium Density (R2) zoned land
comes with 3 existing single-family homes, one garage conversion studio unit, offering the potential to build between 14-26 apartment units. With
minimum lot size requirements, the property can be split into 8 total parcels for even higher overall density. Priced at $1,499,000, this property is a
covered land play with the option to bring rents up to market while planning your multifamily development. Currently, 75% leased to 3 tenants on a
month-to-month basis, there is tremendous upside in rents, with a market rent potential of $9,600/month. Additionally, there is the opportunity to
lease out excess land for additional income. Strategically positioned just one mile from the nearest Highway 101 exit and within walking distance of
bus stops, Mcdonald's, and Target, this property boasts a desirable location. Moreover, Santa Maria is experiencing a housing shortage, making this
property highly sought after by investors and developers. Don't miss your chance to acquire this prime investment property at 360 E. NEWLOVE DR.
in Santa Maria.
Sold for $1,275,000
Listed by: Invest SLO • Abel Contreras • Contact: 805-709-7143
Bought with: Adam Castaneda, Broker
$1,275,000
360 E Newlove Dr, Santa Maria, CA 93454
6beds
5,400sqft
Single Family Residence
Built in 1960
1.2 Acres Lot
$1,620,200 Zestimate®
$236/sqft
$6,287 Estimated rent
Home value
$1,620,200
$1.43M - $1.85M
$6,287/mo
Zestimate® history
Owner options
List your home for rent
$6,287/mo
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$6,287/mo
Rent Zestimate®
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$8,005/mo
Est. payment
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$8,005/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Abel Contreras DRE #02062620 805-709-7143,
Invest SLO
Bought with:
Adam Castaneda, DRE #01119316
Adam Castaneda, Broker
Source: CRMLS,MLS#: PI23147958
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 5
- Full bathrooms: 5
- Main level bathrooms: 5
- Main level bedrooms: 6
Rooms
- Room types: Bedroom, Converted Bedroom, Kitchen, Living Room, Primary Bedroom, Pantry
Primary bedroom
- Features: Main Level Primary
Bedroom
- Features: All Bedrooms Down
Bedroom
- Features: Bedroom on Main Level
Bathroom
- Features: Closet, Laminate Counters, Linen Closet, Separate Shower, Tile Counters, Tub Shower
Kitchen
- Features: Tile Counters
Pantry
- Features: Walk-In Pantry
Heating
- Natural Gas, Wall Furnace
Cooling
- None
Appliances
- Included: Dishwasher, Free-Standing Range, Gas Cooktop, Disposal, Gas Oven, Gas Range, Gas Water Heater, High Efficiency Water Heater, Microwave, Range Hood, Vented Exhaust Fan, Water To Refrigerator, Water Heater
- Laundry: Washer Hookup, Gas Dryer Hookup, In Garage
Features
- Ceiling Fan(s), Eat-in Kitchen, Tile Counters, All Bedrooms Down, Bedroom on Main Level, Galley Kitchen, Main Level Primary, Walk-In Pantry
- Flooring: Carpet, Tile, Vinyl, Wood
- Windows: Blinds, Casement Window(s), Double Pane Windows, Screens, Wood Frames
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 5,400 sqft
Property
Parking
- Total spaces: 12
- Parking features: Direct Access, Driveway Level, Door-Single, Driveway, Garage Faces Front, Garage, On Site, Unpaved
- Attached garage spaces: 5
- Uncovered spaces: 7
Accessibility
- Accessibility features: Safe Emergency Egress from Home, No Stairs, Parking, Accessible Doors
Features
- Levels: One
- Stories: 1
- Entry location: 1
- Patio & porch: Concrete, Front Porch, None, Patio
- Exterior features: Awning(s), Rain Gutters
- Pool features: None
- Spa features: None
- Fencing: Brick,Chain Link,Fair Condition,Wood,Wire
- Has view: Yes
- View description: Neighborhood, Trees/Woods
Lot
- Size: 1.2 Acres
- Dimensions: 52272
- Features: 2-5 Units/Acre, Back Yard, Front Yard, Garden, Rectangular Lot, Street Level, Trees, Value In Land, Walkstreet, Yard
Details
- Additional structures: Second Garage
- Parcel number: 128075016
- Zoning: R2
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Custom,English
- Property subtype: Single Family Residence
Materials
- Drywall, Fiberglass Siding, Glass, Plaster, Stucco, Vinyl Siding, Copper Plumbing
- Foundation: Slab
- Roof: Common Roof,Shingle
Condition
- New construction: No
- Year built: 1960
Utilities & green energy
- Electric: Electricity - On Property, 220 Volts in Garage, Standard
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Community & HOA
Community
- Features: Curbs, Storm Drain(s), Street Lights, Sidewalks
- Security: Smoke Detector(s)
Location
- Region: Santa Maria
Financial & listing details
- Price per square foot: $236/sqft
- Tax assessed value: $1,326,510
- Date on market: 8/15/2023
- Cumulative days on market: 6 days
- Listing terms: Cash,Cash to New Loan,Conventional,1031 Exchange,Owner May Carry,Submit
- Road surface type: Unimproved
Price history
| Date | Event | Price |
|---|---|---|
| 9/11/2023 | Sold | $1,275,000-14.9%$236/sqft |
Source:  CRMLS #PI23147958 Report a problem | ||
| 8/22/2023 | Pending sale | $1,499,000$278/sqft |
Source: CRMLS #PI23147994 Report a problem | ||
| 8/15/2023 | Listed for sale | $1,499,000$278/sqft |
Source: CRMLS #PI23147994 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $1,326,510 +2% |
| 2025 | $14,695 +4.8% | $1,300,500 +2% |
| 2024 | $14,024 +81.1% | $1,275,000 +82.1% |
| 2023 | $7,745 +870.7% | $700,000 +904.1% |
| 2022 | $798 +2.9% | $69,717 +2% |
| 2021 | $776 +0.2% | $68,351 +1% |
| 2020 | $774 +1.2% | $67,651 +2% |
| 2019 | $765 +1.3% | $66,325 +2% |
| 2018 | $756 +1.2% | $65,026 +2% |
| 2017 | $747 +4.5% | $63,751 +2% |
| 2016 | $715 +1.6% | $62,502 +1.5% |
| 2015 | $704 +4.7% | $61,564 +2% |
| 2014 | $672 | $60,359 +2.5% |
| 2012 | -- | $58,910 +2% |
| 2011 | -- | $57,756 +0.8% |
| 2010 | -- | $57,325 -0.2% |
| 2009 | -- | $57,462 +2% |
| 2008 | -- | $56,336 +2% |
| 2007 | -- | $55,232 +2% |
| 2006 | -- | $54,150 +2% |
| 2005 | -- | $53,089 +3.9% |
| 2003 | -- | $51,096 +2% |
| 2002 | -- | $50,095 +2% |
| 2001 | -- | $49,114 +2% |
| 2000 | -- | $48,152 |
Find assessor info on the county website
Neighborhood: 93454
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Nearby schools
GreatSchools rating
- 2/10Battles (Washington) Elementary SchoolGrades: K-6Distance: 0.3 mi
- 2/10Fesler (Isaac) Junior High SchoolGrades: 7-8Distance: 2 mi
- 6/10Ernest Righetti High SchoolGrades: 9-12Distance: 3.1 mi
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- California
- Santa Barbara County
- Santa Maria
- 93454
- 360 E Newlove Dr
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