$1,799,000

223 E Tunnell St Santa Maria, CA 93454

Mid City Acres Neighborhood

Estimated payment $11,764/month

Total Views 270
10 Beds
7 Baths
4,999 Sq Ft
$360 Price per Sq Ft

About This Home

Located near downtown Santa Maria, this 7-unit apartment complex sits on a large corner lot and features three duplexes arranged around a central courtyard, plus a standalone building with a storage garage. The unit mix includes (3) 2Bed/1Bath units and (4) 1Bed/1Bath units ranging in size from approximately 950 to 600 SF. Originally constructed in the 1940s, many of the buildings retain craftsman-style touches such as built-in shelving and kitchen nooks. Each unit is individually metered for gas and electricity. Set on an 18,730 SF fenced lot, the site offers 7 uncovered parking spaces along with additional street parking on Tunnell St and Vine St. The location offers convenient access to public transit, retail, and other amenities. CAP Rate on current rents is 5.12 with a GRM of 12.03. While some TLC is needed, there's strong potential for rent growth.

Listing Agent

Steve Battaglia

Battaglia Commercial RE License #01318215 Listed on: 07/21/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 0.43 Acre Lot

Home Design

  • Flat Roof Shape
  • Raised Foundation

Interior Spaces

  • 4,999 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Full Bathrooms

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Security Deposit $50,000
  • The owner pays for trash collection, insurance, gardener, water
  • Assessor Parcel Number 121-153-007

Community Details

Overview

  • 7 Units

Building Details

  • Operating Expense $52,968
  • Net Operating Income $92,116

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Listing Details

  • FILLACRES: 0.43
  • ApproxYrBlt: 1940
  • Directions To Property: Exit 101 at Main Street, go West. Turn right onto Broadway. Turn right onto E Tunnell St. Propert is on your left in the second block.
  • Listing Member Name: Steven R Battaglia
  • Listing Office Short Id: 201000376
  • List Office Board Code: Santa Ynez Valley
  • Lot Size Sq Ft: 18730.00
  • Major Area: 14 - SM Northeast
  • Open House Office I D: 20170308161134642206000000
  • Property Sub Type: Multi Family
  • Prop. Type: Multi-Family
  • Building Stories: 1
  • Tract Suffix: Street
  • Income And Expenses Annual Operating Exp: 52968.00
  • Income And Expenses Cap Rate: 5.12
  • Landlord Pays: Trash Collection, Insurance, Gardener, Water
  • Special Features: None
  • Stories: 1
  • Year Built: 1940

Interior Features

  • Total Bathrooms: 7.00
  • Total Bedrooms: 10
  • Laundry: None

Exterior Features

  • Foundation: Raised
  • Roof: Flat

Garage/Parking

  • Parking: 6 - 10

Utilities

  • Air Conditioner: None
  • Heating: Wall Furnace
  • Sewer: Public Sewer
  • Hot Water: Public
  • Separate Meters: Gas, Electric

Lot Info

  • Zoning Description: Apartment

Rental Info

  • Deposit: 50000.00
  • Tenant Pays: Gas, Electricity

Tax Info

  • Assessor Parcel Number: 121-153-007

Multi Family

  • Income And Expenses Net Operating Income: 92116.00
  • Total Number Units: 7

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/21/2025 07/21/25 For Sale $1,799,000 +49.9% $360 / Sq Ft
11/05/2021 11/05/21 Sold $1,200,000 -- $240 / Sq Ft
Source: North Santa Barbara County Regional MLS

Source: North Santa Barbara County Regional MLS

MLS Number: 25001465

North Santa Barbara County Regional MLS

California Santa Barbara County Santa Maria 93454 Mid City Acres

223 E Tunnell St, Santa Maria, CA

This home is located at 223 E Tunnell St, Santa Maria, CA 93454 and is currently priced at $1,799,000, approximately $359 per square foot. This property was built in 1940. 223 E Tunnell St is a home located in Santa Barbara County with nearby schools including Alvin Elementary School, Fesler (Isaac) Junior High School, and Santa Maria High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

North Santa Barbara County Regional MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Steve Battaglia
Listing Agent
Steve Battaglia
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Battaglia Commercial RE
(805) 900-3381