1324 N. N Broadway
Santa Maria, CA, 93454 $ 9,500,000
Bedrooms3 Baths1.0 Sq 47,000 Monthly Estimate*
$ 59,268
Listed by Century 21 Masters
for $9,500,000 with 3 bedrooms and 1 full bath. This 47,000 square foot home was built in 1965 on a lot size of 3.95.
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.
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FeaturesGeneralSewer SepticTank
Heating WallFurnace
Cooling None
Appliances GasWaterHeater
Zoning Commercial with Motel Use
HOA Fee 0.0
Garage Spaces 0.0
Pool Features None
Year Built 1965
View Mountains
Stories Count 1
Levels One
Property Subtype MixedUse
Gross Income 1333333.0
Community Features Biking Curbs StormDrains StreetLights Sidewalks
County Santa Barbara
Net Operating Income 990058.0
Operating Expense 343275.0
Insurance Expense 47909.0
New Construction N
Property Type ResidentialIncome
HOA N
Attached Garage N
Subdivision Name Not Applicable
Garage Y/N N
Special Listing Conditions Standard
Status Pending
Directions 101 Fwy to Donovan in Santa Maria. Go east on Donovan to Broadway turn left and property is on the left. You will see the sign. The restaurant is in the front and the 100 cottages are in the rear.
City Santa Maria
Senior Community Y/N N
Number Of Units Total 100
MLS Area SMIA - Santa Maria
Lot Size Units Acres
Lot Size Square Feet 172062.0
Carport Y/N N
Number of Units Leased 100
Listing Terms Cash CashToNewLoan Conventional LeaseOption
Spa Features None
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 31010.0
Home Warranty Y/N N
Trash Expense 10000.0
Water Sewer Expense 45660.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Standard Status Pending
Year Built Source Estimated
Total Actual Rent 1333333.0
Property Sub Type Additional MixedUse
Cap Rate 10.4
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ExteriorFencing AverageCondition
Lot Features SprinklersNone
Water Source Public
Total Parking 20.0
Inclusions All furniture and fixtures onsite.
Lot Size Area 3.95
Number of Buildings 11
Spa N
Building Area Total 47000.0
Lot Size Acres 3.95
Private Pool N
Lot Size Source PublicRecords
Waterfront Y/N N
Number of Separate Water Meters 2
Number of Separate Gas Meters 2
Number of Separate Electric Meters 2
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorFireplace Features None
Total Stories 1
Common Walls TwoCommonWallsOrMore
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Laundry Features CommonArea
Total Baths 0
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $59,268
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Santa Maria, CA
Average List Price $750,000
Percent of Sale Price 92%
About Santa Maria, CA 107,154 Population
37% Since 2002
$ 53,304 Median Income
32.07 Median Age
42% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 5/15/2025 | $9,500,000 | | Listed Price |