Coral Apartments in Lompoc is a well maintained 22-unit multifamily apartment complex in Lompoc with upgraded copper plumbing, newer ABS sewer lines, newer gas heaters, upgraded tile bathrooms, & more. 8-1bd apts & 14 studios surround a tastefully landscaped courtyard, with security gates and camera system in addition to on-site parking and a common laundry room. The property is operated subject to an affordable covenant that expires in 2034 which restricts the renting of the apartments to ''Low'' or ''Very Low'' Income Households. Even with the affordable restrictions, there is strong upside in rents that can yield a Proforma CAP rate of 9.6 giving the savvy investor ''value-add'' opportunity in the short term with additional upside once the affordable agreement expires.
Sold for $2,600,000
Zillow last checked:
Listing updated:
Bought with:
Steve Golis, DRE#: 00772218
Radius Commercial RE
Source: North Santa Barbara County MLS,MLS#: 25001462
Price history
| Date | Event | Price |
|---|---|---|
| 10/10/2025 | Sold | $2,600,000-5.8%$231/sqft |
Source:  North Santa Barbara County MLS #25001462 Report a problem | ||
| 8/14/2025 | Pending sale | $2,760,000$245/sqft |
Source: North Santa Barbara County MLS #25001462 Report a problem | ||
| 7/21/2025 | Listed for sale | $2,760,000$245/sqft |
Source: North Santa Barbara County MLS #25001462 Report a problem | ||
Sell for more on Zillow
Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
$2,692,100
2% more
+$53,842
With Zillow Showcase(estimated)
$2,745,942
