Your Agent

Jennifer St Clair

Broker Associate | CA DRE# 01856341

858-405-8525

Property Attributes

ID#V138773
TypeMulti-Family
Listing Status Active
CountySanta Barbara
CitySanta Maria
Area Santa Maria
NeighborhoodNot Applicable
Zip93454
Style
Year Built1964
Price$ 3,325,000
Bedrooms0
Full Bathrooms1
Half Bathrooms0
Sqr Footage7012
Lot Size0.6 Acres

Data Source:

California Regional MLS (CRMLS)

Property Description

To be sold in conjunction with 123 S Bradley Road, Santa Maria (APN 125-053-007)115-123 S. Bradley Road presents a compelling value-add multifamily investment opportunity in Santa Maria, offering an attractive combination of in-place cash flow, significant rental upside, potential ADU development, and a highly accessible location. Built in 1964, this 13-unit property features a highly marketable and diversified unit mix consisting of six (6) one-bedroom/one-bathroom units, five (5) two-bedroom/one-bathroom units, and two (2) three-bedroom/one-bathroom units.The property also offers potential additional-density upside through ADU development. Pursuant to California Senate Bill (SB) 1211, multifamily property owners may be eligible to develop ADUs at a ratio of up to one ADU per existing unit, subject to applicable limitations, including a maximum of eight (8) ADUs and compliance with density, zoning, and building requirements. Two prominent areas of this property near the property's S. Bradley Road frontage appear to offer potential locations to build out, at least, some additional ADU units.115-123 S. Bradley Road combines an attractive acquisition basis with multiple identifiable value-creation drivers. The combination of below-market rents, potential additional density, recent capital improvements, commuter-oriented location, diversified unit mix, and limited multifamily inventory positions the property as an attractive opportunity for an investor seeking both current income and meaningful upside through active asset management.

Price History
9/16/2026	Listed $3,325,000

General Features

Heating	None
Cooling	None
Appliances	Gas Oven,Refrigerator
Garage Spaces	2
Pool Features	None
Year Built	1964
View	None
Gross Income	274752
Community Features	Street Lights,Sidewalks
Additional Parcels Description	125-053-007
County	Santa Barbara
Net Operating Income	163782
Operating Expense	110970
Insurance Expense	14000
Property Type	Residential Income
Subdivision Name	Not Applicable
Garage Y/N	true
Special Listing Conditions	Standard
Status	Active
Directions	Located between E. Main Street and E. Cypress Street
City	Santa Maria
Senior Community Y/N	false
Number Of Units Total	13
MLS Area	SMIA - Santa Maria
Lot Size Units	Square Feet
Lot Size Square Feet	26136
Carport Y/N	true
Listing Terms	Cash,Cash to New Loan
Spa Features	None
Property Attached Y/N	false
Land Lease Y/N	false
Electric Expense	7774
Fuel Expense	4549
Trash Expense	3600
Water Sewer Expense	17524
Additional Parcels Y/N	true
Rent Control Y/N	false
Standard Status	Active
Year Built Source	Assessor
PostalCity	SANTA MARIA

Interior Features

Fireplace Features	None
Common Walls	No Common Walls
Air Conditioning Y/N	false
Heating Y/N	false
Fireplace Y/N	false
Laundry Features	None

Exterior Features

Fencing	Wood
Parking Features	Carport
Lot Features	Sprinklers None
Total Parking	25
Lot Size Area	26136
Number of Buildings	2
Spa	false
Building Area Total	7012
Lot Size Acres	0.6
Private Pool	false
Lot Size Source	Public Records
Number of Separate Water Meters	1
Number of Separate Gas Meters	1
Number of Separate Electric Meters	1