223 E Tunnell, Santa Maria, CA 93454, Santa Maria, 93454 - bed, bath

223 E Tunnell, Santa Maria, CA 93454 home-pic-0

223 E Tunnell

Santa Maria, CA 93454

ACTIVE
CONDITION: FAIR
0Beds
0Baths
Sq Ft
18,731Lot Size

Property Price

LIST PRICE$1,799,000

SUMMARY

Analysis of 223 E Tunnell, Santa Maria, CA 93454 is currently available with a list price of $1,799,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Santa Maria Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

Property is moderate renovation needed.

Built in 1940, this multi-family property is well-maintained and functional but shows clear signs of age. While the units are habitable and generating strong income, the kitchens and bathrooms feature dated styles and standard appliances rather than modern renovations. The property is described as a value-add opportunity 'primed for a new owner to implement their vision,' indicating that while major systems are functional, they are likely nearing the end of their typical lifespan and require cosmetic or system updates to meet current modern standards.

PROSSTRENGTHS & OPPORTUNITIES

  • Strong Rental Income

    The property generates over $12,000 in monthly rental income from seven units, providing immediate cash flow and a solid foundation for investment returns.

  • Desirable Unit Layout

    Featuring seven single-level casitas arranged around a central courtyard, the property offers a unique community atmosphere with private outdoor spaces that appeal to long-term tenants.

  • Value-Add Opportunities

    With a large 18,731 sq. ft. lot, separate utility meters, and a storage shed suitable for laundry conversion, there is significant potential to increase property value and net income.

CONSRISKS & DEFICIENCIES

  • Vintage Construction

    Originally built in 1940, the property may require more frequent maintenance and capital improvements to aging systems compared to modern multi-family developments.

  • Basic Onsite Amenities

    The property currently lacks dedicated onsite laundry facilities and features a simple rear parking lot, which may require additional capital expenditure to meet modern tenant expectations.

About 223 E Tunnell

Welcome to 223 East Tunnell in beautiful Santa Maria, CA. This is a rare opportunity to purchase a multi-family rental property on a large, centrally located parcel with strong current income and room for future growth. This unique property features seven (7) single-level casitas thoughtfully arranged around a charming common courtyard, creating a welcoming community setting for residents. The property consists of four separate building structures comprising four 1-bedroom units and three 2-bedroom units. Several casitas feature private backyard spaces, while all residents enjoy access to the shared green common area in the front. Current monthly rental income is over $12,000 per month, with tenants paying electric/gas on separate meters. Various units have a private backyard space, and all units have access to a green common area in the front. The rear parking lot, conveniently accessed via the alley, offers seven onsite parking spaces along with an owner’s storage shed that presents potential for conversion into onsite laundry facilities. 223 East Tunnell is primed for a new owner to implement their vision and maximize its potential. Call today for a private showing.

Property Details

Public Facts

Property Type
Quadruplex
Year Built
1940
Lot Size
18,731 Sq. Ft.

Interior

Total Bedrooms
-
Total Bathrooms
-

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds--
50%
Baths--
50%
Square foot-3,915
33%
Lot Size18,73114,400
67%
Price$1.80M$1.42M
67%
Price per sq ft$0$306
33%
Built year19401940
50%
HOA$0$0
50%
Days on market17229
33%

Pricing History

Listed for Sale

Feb 18, 2026

$1,799,000

Initial Listing

Sold

Nov 5, 2021

$1,200,000

Public Record

Sold

Oct 6, 2000

$300,000

Public Record

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