511 W Cook Street, SANTA MARIA, CA 93454, SANTA MARIA, 93454 - bed, bath
511 W Cook Street
SANTA MARIA, CA 93454
Property Price
SUMMARY
Analysis of 511 W Cook Street, SANTA MARIA, CA 93454 is currently available with a list price of $3,200,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. 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
Property is new construction or fully renovated.
While originally built in 1976, the property has undergone an extensive recent renovation that brings it up to modern standards. The interiors feature new luxury vinyl plank flooring, updated kitchens with white shaker cabinetry, quartz countertops, and a full suite of new stainless steel appliances. The bathrooms have been fully modernized with new vanities, lighting, and fixtures. The overall condition is turnkey with no visible deferred maintenance, meeting the criteria for a recently renovated property.
PROSSTRENGTHS & OPPORTUNITIES
- Attractive Financing
The property features a 3.77% interest-only assumable agency loan, providing exceptional positive leverage and immediate cash flow advantages in the current high-interest-rate environment.
- Value-Add Potential
Detached garages provide a clear opportunity for ADU conversion, allowing an investor to increase the unit count and significantly boost the property's gross rental income.
- Unique Architectural Appeal
The inclusion of loft- and townhouse-style units offers a modern, upscale character that differentiates the property from standard apartment blocks and attracts high-quality professional tenants.
CONSRISKS & DEFICIENCIES
- Limited Unit Diversity
The unit mix is exclusively comprised of 1-bedroom, 1-bathroom apartments, which restricts the potential tenant pool to singles or couples and excludes the family demographic.
- Aging Infrastructure
Built in 1976, the property may face increasing long-term maintenance requirements for major systems like plumbing and electrical compared to newer construction.
- Aggressive Valuation
The listing price of $3.2M represents a nearly 100% increase over its 2018 sale price of $1.625M, placing a heavy premium on the assumable loan and future ADU potential.
About 511 W Cook Street
Positive Leverage From Day 1 w/ 3.77% Interest Only Assumable Agency Loan! The Lofts at 511 Cook Street is a distinctive 11 unit multifamily property in the heart of Santa Maria, featuring all 1 bedroom, 1 bathroom apartments, including three loft- or townhouse-style units that offer unique architectural character and a modern, upscale feel. The building spans 6,946 square feet and includes ample off-street parking, and an on-site laundry facility. Detached garages provide an easy value-add opportunity for a new owner, with potential for ADU conversion. Centrally located just minutes from downtown Santa Maria, residents enjoy convenient access to shops, restaurants, and local amenities. With its blend of standard and loft-style units, this property offers a compelling mix of functionality and style, making it appealing to young professionals, singles, and small households. It represents an outstanding opportunity for investors seeking a turnkey multifamily asset with both income stability and long-term growth potential. **Part of a portfolio sale, can be sold together or separate. 127 Agnes (13 units) is also available**
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1976
- Lot Size
- 17,860 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
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 6,949 | 4,646 | 67% |
| Lot Size | 17,860 | 14,400 | 67% |
| Price | $3.20M | $1.42M | 67% |
| Price per sq ft | $460 | $332 | 67% |
| Built year | 1976 | 1976 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 229 | 33% |
Pricing History
Listed for Sale
Jan 27, 2026
$3,200,000
Initial Listing
Sold
Aug 1, 2018
$1,625,000
Public Record
Sold
Jan 10, 2017
$1,319,000
Public Record