614 W Orange Street, SANTA MARIA, CA 93458, SANTA MARIA, 93458 - bed, bath
ACTIVE$975,000/sqft
614 W Orange Street, SANTA MARIA, CA 93458
0Bed
0Bath
Sqft
7,405Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multiple Income Streams: The property features four separate cottages (3 1Bed/1Bath, 1 studio), providing diversified rental income and a stable investment foundation.
Top Cons:
Advanced Age of Property: Built in 1908, the property is very old, suggesting potential for significant deferred maintenance and outdated core systems (e.g., plumbing, electrical) beyond the recently replaced roofs.
Compared to the nearby listings
Price:$975.0K vs avg $857.5K (+$117,500)75%
Size: sqft vs avg 1,289 sqft50%
Price/sqft:$0 vs avg $14650%
More Insights
Built in 1908 (118 years old).
Condition: Built in 1908, this property is over a century old. While new roofs were installed in 2023, the listing explicitly states an 'as-is' sale and highlights the need for a 'prudent buyer to increase rents and upgrade the property.' The exterior images show a very dated appearance with signs of wear. Crucially, there are no interior images, but given the age and the absence of any mentioned interior renovations, it is highly probable that the kitchens and bathrooms are severely outdated, lack modern features, and require substantial rehabilitation. Major systems like plumbing, electrical, and potential HVAC are likely original or very old, necessitating significant investment to meet current standards and tenant expectations.
Year Built
1908
Close
-
List price
$975K
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
24-2824
Home ConditionPoor
Features
View-
About this home
Four separate cottages in an established residential area of Santa Maria. Unit mix includes 3 1Bed/1Bath apartments and 1 studio, each with separate electric and gas meters. New roofs in 2023. On a good-sized lot with alley access. Over 30% upside in rents. Buyer to check with the city about potential of adding ADU at back of property. This is a solid, bread-and-butter income property as-is and offers upside potential for the prudent buyer to increase rents and upgrade the property to increase the value of this asset.
S
Steven Battaglia
Listing Agent
Condition Rating
Poor
Built in 1908, this property is over a century old. While new roofs were installed in 2023, the listing explicitly states an 'as-is' sale and highlights the need for a 'prudent buyer to increase rents and upgrade the property.' The exterior images show a very dated appearance with signs of wear. Crucially, there are no interior images, but given the age and the absence of any mentioned interior renovations, it is highly probable that the kitchens and bathrooms are severely outdated, lack modern features, and require substantial rehabilitation. Major systems like plumbing, electrical, and potential HVAC are likely original or very old, necessitating significant investment to meet current standards and tenant expectations.
Pros & Cons
Pros
Multiple Income Streams: The property features four separate cottages (3 1Bed/1Bath, 1 studio), providing diversified rental income and a stable investment foundation.
Significant Rent Upside: The listing explicitly states 'Over 30% upside in rents,' indicating substantial potential for increased cash flow and return on investment for a new owner.
Recent Major Capital Improvement: New roofs installed in 2023 address a significant maintenance item, reducing immediate capital expenditure concerns for the buyer.
Separate Utility Metering: Each unit has separate electric and gas meters, which minimizes landlord utility expenses and simplifies tenant billing and management.
ADU Development Potential: The good-sized lot with alley access offers the potential to add an Accessory Dwelling Unit (ADU), providing an opportunity to further increase income and property value.
Cons
Advanced Age of Property: Built in 1908, the property is very old, suggesting potential for significant deferred maintenance and outdated core systems (e.g., plumbing, electrical) beyond the recently replaced roofs.
As-Is Sale Condition: The property is sold 'as-is,' implying the seller will not make repairs, which likely requires immediate capital investment from the buyer for necessary upgrades or repairs to maximize its potential.
Requires Active Management & Investment: Achieving the stated rent upside and increasing property value necessitates a 'prudent buyer' willing to actively upgrade and manage the property, which may not appeal to all investors seeking passive income.