$1,625,000
$174K PRICE DROP

Estimated payment $9,764/month

Total Views 5,506
10 Beds
7 Baths
4,973 Sq Ft
$327 Price per Sq Ft

Highlights

  • 0.43 Acre Lot
  • Corner Lot
  • Wall Furnace

About This Home

Welcome to 223 East Tunnell in beautiful Santa Maria, CA. This is a rare opportunity to purchase a multi-family rental property on a large, centrally located parcel with strong current income and room for future growth. This unique property features seven (7) single-level casitas thoughtfully arranged around a charming common courtyard, creating a welcoming community setting for residents. The property consists of four separate building structures comprising four 1-bedroom units and three 2-bedroom units. Several casitas feature private backyard spaces, while all residents enjoy access to the shared green common area in the front. Current monthly rental income is over $12,000 per month, with tenants paying electric/gas on separate meters. Various units have a private backyard space, and all units have access to a green common area in the front. The rear parking lot, conveniently accessed via the alley, offers seven onsite parking spaces along with an owner's storage shed that presents potential for conversion into onsite laundry facilities. 223 East Tunnell is primed for a new owner to implement their vision and maximize its potential. Call today for a private showing.

Listing Agent

Erik Berg-Johansen

Central Coast Sotheby's International Realty License #02061242 Listed on: 03/03/2026

Central Coast Sotheby's International Realty

Co-Listing Agent

Keith Silva

Link Real Estate License #01335779

Property Details

Home Type

  • Multi-Family

Year Built

  • 1940

Lot Details

  • 18,731 Sq Ft Lot
  • Corner Lot

Home Design

  • 4,973 Sq Ft Home
  • Flat Roof Shape
  • Raised Foundation

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Full Bathrooms

Utilities

  • No Cooling
  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Community Details

  • 7 Units
  • No Laundry Facilities

Listing and Financial Details

  • The owner pays for trash collection, water, gardener, taxes, insurance
  • Seller Considering Concessions

Property Details

Home Type

Multi-Family

Year Built

1940

Lot Details

0.43 Acres

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Co List Office Mls Id: osm5779
  • Co List Office Phone: 805-801-6498
  • Co List Office Mls Id: 877704867
  • Directions: N Broadway to E Tunnell.
  • Special Features: None
  • Year Built: 1940

Interior Features

  • Owner Pays: Trash Collection, Water, Gardener, Taxes, Insurance
  • Full Bathrooms: 7
  • Total Bedrooms: 10

Exterior Features

  • Foundation Details: Raised, None
  • Roof: Flat

Garage/Parking

  • Parking Features: 6 - 10

Utilities

  • Heating: Wall Furnace
  • Sewer: Public Sewer
  • Laundry Features: None
  • Cooling: None
  • Heating Yn: Yes
  • Water Source: Public

Lot Info

  • Lot Size Sq Ft: 18731.0
  • Zoning Description: Multi-Fam R2

Rental Info

  • Tenant Pays: Gas, Electricity

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $13,771 $1,273,449 $530,604 $742,845
2023 $13,771 $1,224,000 $510,000 $714,000
2022 $13,298 $1,200,000 $500,000 $700,000
2021 $4,628 $417,610 $208,805 $208,805
2020 $4,622 $413,328 $206,664 $206,664
2019 $4,570 $405,224 $202,612 $202,612
2018 $4,513 $397,280 $198,640 $198,640
2017 $4,461 $389,492 $194,746 $194,746
2016 $4,269 $381,856 $190,928 $190,928
2014 $4,009 $368,756 $184,378 $184,378
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/12/2026 04/12/26 Price Changed $1,625,000 -9.7% $327 / Sq Ft
03/03/2026 03/03/26 For Sale $1,799,000 +49.9% $362 / Sq Ft
11/05/2021 11/05/21 Sold $1,200,000 -- $240 / Sq Ft View Prior Sale
Source: North Santa Barbara County Regional MLS

Source: North Santa Barbara County Regional MLS

MLS Number: 26000387

North Santa Barbara County Regional MLS
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