511 W COOK ST Santa Maria CA 93454-5550

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**

• Part of a Portfolio Sale - 127 Agnes (13 units) is also available for purchase under same ownership - See flyer for details

• $1,600,000 assumable agency loan in place with 3.77% interest only, subject to lender approval and a 1% assumption fee

• Unit Mix | (11) 1BD/1BA (8 Standard, 3 Townhouse-style)

• Cap Rate | Current: 5.21% · Market: 5.37%

• GRM | Current: 12.98 · Market: 12.74

• Price/Unit | $290,909

• Parking | (5) 1-Car Garages; 8 Carport, 3 Surface (16 Total)

• Zoning | R-3 (High-Density Residential)

• APN | 123-076-008

• Year Built | 1976