
Santa Maria, CA 93454
This High-Potential Investment Opportunity is a Residential Income Quadruplex listed at $1,600,000, positioned well below the $1,624,212 Fair Market Value by 1.5%. This valuation gap offers $24,212 in Instant Equity. With a Fair Condition Rating, the property features individually deeded units and private two-car garages, providing significant exit flexibility. The absence of an HOA minimizes overhead, making this a stable asset for Buy-and-Hold Investors or Portfolio Managers seeking long-term rental demand near Highway 101.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 417423 Tiffany Drive Subject | $1,600,000* List Price | 0 | 0 | 4,646 | $350 | - |
A 223 E Tunnell Active | $1,799,000 List Price | 0 | 0 | 4,973 | $362 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1988 (38 years old), the property falls into the 'Fair' category due to age (>20y). While the listing describes it as excellent and shows updated stainless steel appliances, the kitchen features dated oak cabinetry and square tile countertops typical of the original construction era. The property is well-maintained and functional but requires cosmetic modernization to be considered 'Good' or 'Excellent' by these specific criteria.
The units are individually deeded, providing a unique exit strategy to sell them separately as individual condos or hold them as a high-performing fourplex.
The absence of a traditional HOA and associated monthly dues, replaced by a simple shared maintenance agreement, significantly reduces overhead and maximizes net operating income.
Each unit includes a private two-car garage and a favorable unit mix, including a three-bedroom unit, which are highly desirable features that command premium rents and attract long-term tenants.
Constructed in 1988, the property may face upcoming capital expenditures for major systems, roofing, or exterior components as it approaches a 40-year lifecycle.
Managing four separate legal entities and a shared maintenance agreement involves more administrative oversight and legal coordination than a traditional single-parcel multi-family asset.
Exceptional 4-Unit Condo Investment Opportunity in Santa Maria Discover a rare opportunity to acquire four individually deeded condominium units at 417–423 Tiffany Drive in Santa Maria. This well-maintained fourplex offers the flexibility of a traditional income-producing investment while giving the buyer the unique option to sell the individual condos separately in the future. The property features three 2-bedroom 2-bath units and one 3-bedroom 2-bath unit, with each residence offering its own two-car garage—a highly desirable amenity for residents and a strong value-add for future resale. The property is in excellent condition and is conveniently located near Marian Regional Medical Center and Highway 101 access, making it attractive to a wide range of tenants and owner-occupants alike. Another major advantage is the absence of a traditional HOA. The property operates with a shared maintenance agreement for the common driveway, helping keep ownership straightforward while avoiding the typical HOA structure and associated dues. Whether you're looking to build a rental portfolio, invest in Santa Maria real estate, or acquire an asset with future individual resale potential, 417–423 Tiffany Drive offers a compelling combination of high quality condition, flexibility, location, and long-term opportunity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 4,646 | - |
| Lot Size | 7,780 | - |
| Price | $1.60M | $1.50M |
| Price per sq ft | $344 | $329 |
| Built year | 1988 | 0 |
| HOA | $0 | $0 |
| Days on market | 23 | 57 |
Aug 17, 2026
$1,600,000
Initial Listing