Residential Income - 413 West Street, Santa Maria, CA

Description

Unique Investment Opportunity - Zoned R2 with Future Development Potential. This is a rare opportunity for a buyer with vision and patience. Located in an area the City of Santa Maria has identified for future development, this property was previously zoned M1 and is now designated R2. The current use is grandfathered under the prior M1 zoning; however, any new use must comply with the current R2 zoning regulations. Buyers are encouraged to verify zoning and development plans directly with the City of Santa Maria. West Street is a private road. The dirt road from Thornburg is technically not a legal easement. It is an implied easement. All residence have always used the dirt road to access their properties. The lot is approximately 24,306 square feet per recent legal split (records available), though public records still reflect a larger 40,510 square foot parcel. The property includes a 1,092 square foot structure built in 1957 on a slab foundation. The building is in poor condition and may be best suited for tear-down. Utilities include city water, natural gas, and septic system. This is an excellent opportunity to invest in a transitioning neighborhood with long-term upside potential. Please note: attached is a City Map which shows the property line goes through half the road. So this means that this property owner owns part of the road. When the City decides to develop that road which will eventually go from Thornburg to Depot, there is the potential that the City may need to buy this part of the road from this property owner.

Property details

Location

413 West Street • Santa Maria, CA 93458

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Listed by

James Gallegos · Century 21 Masters