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220 N F Street, Lompoc, CA 93436, Lompoc, 93436 - 4 bed, 2 bath

220 N F Street, Lompoc, CA 93436 home-pic-0
ACTIVE UNDER CONTRACT$649,000$1,574/sqft
Est. Value: $585,003
-9%
AboveEstimate
220 N F Street, Lompoc, CA 93436
4Beds
2Baths
1,574Sqft
6,970Lot

Price Vs. Estimate

The estimated value ($585,003.13) is $63,996.87 (9%) lower than the list price ($649,000). This property may be overpriced.

Key pros and cons

Top Pros:
Multi-Unit Income Potential: The 'two on a lot' configuration, featuring two separate 2-bedroom, 1-bath houses, provides dual income streams or flexible owner-occupancy options.
Top Cons:
Recently Sold Property: The property was recently sold within the past year on 2025-12-04. The sold price is $650,000.00.

Compared to the nearby listings

Price:$649.0K vs avg $615.0K (+$34,000)59%
Size:1,574 sqft vs avg 1,635 sqft43%
Price/sqft:$412 vs avg $35281%

More Insights

Built in 1949 (77 years old).
Condition: Built in 1949, the property is described as being in 'near vintage condition' with 'original hardwood floors,' and the analysis explicitly states the interiors 'likely require substantial modernization and renovation.' While the exterior has 'near new, thermal pane windows' and 'exterior paint,' the lack of interior photos and the vintage description strongly suggest that the kitchen, bathroom, and other major interior systems are significantly outdated and would require substantial investment for rehabilitation and modernization to meet current standards and market expectations. This goes beyond minor updates, aligning with the 'poor' condition criteria.
Year Built
1949
Close
-
List price
$649K
Original List price
-
Price/Sqft
$412
HOA
$0
Days on market
-
Sold On
-
MLS number
25602599
Home ConditionPoor
Features
Patio
View-

About this home

220 N F Street is a "two on a lot" often referred to as "twin houses," (not a traditional duplex). Immediately next door is a separately listed property also for sale, 224 N F Street (MLS# 25602663), which is essentially identical in layout and price. Either, or both together offer a remarkable opportunity for owner/users to create a family compound or a developer/investor opportunity. First time on the market in many decades. A few short blocks to Ocean Ave and Old Town Lompoc. Each property offers two, 2-bedroom, 1-bath houses, each in near vintage condition, with original hardwood floors, all with defined, private yards, off street parking and private laundries. All units have been carefully maintained though the years by the same owners. Near new, thermal pane windows, exterior paint and are fully rented, though at well below market prices.

M
Michael Nicola
Listing Agent

Price History

Date
Event
Price
12/04/25
Sold
$650,000
Condition Rating
Poor
Built in 1949, the property is described as being in 'near vintage condition' with 'original hardwood floors,' and the analysis explicitly states the interiors 'likely require substantial modernization and renovation.' While the exterior has 'near new, thermal pane windows' and 'exterior paint,' the lack of interior photos and the vintage description strongly suggest that the kitchen, bathroom, and other major interior systems are significantly outdated and would require substantial investment for rehabilitation and modernization to meet current standards and market expectations. This goes beyond minor updates, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Multi-Unit Income Potential: The 'two on a lot' configuration, featuring two separate 2-bedroom, 1-bath houses, provides dual income streams or flexible owner-occupancy options.
Strategic Investment Opportunity: The availability of an identical adjacent property (224 N F Street) presents a unique opportunity for a family compound or a larger developer/investor project.
Desirable Location: Situated just a few blocks from Ocean Ave and Old Town Lompoc, offering convenient access to local amenities and walkability.
Recent Capital Improvements: The installation of near-new thermal pane windows and fresh exterior paint indicates recent maintenance and reduced immediate capital expenditure for a buyer.
Established Rental Income: Currently fully rented, providing immediate cash flow, albeit with significant potential for upside due to below-market rents.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-12-04. The sold price is $650,000.00.
Below Market Rents: The current rental income is significantly below market rates, requiring a new owner to undertake rent increases or tenant turnover to maximize profitability.
Vintage Interior Condition: Described as 'near vintage condition,' the interiors likely require substantial modernization and renovation to meet current market expectations and achieve higher rental yields or resale value.
Active Under Contract Status: The property is currently 'Active Under Contract,' which means it is not readily available for new offers and may deter potential buyers.
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