314 S I St Lompoc, CA 93436

Looking for a quality older home to live in or a multi-unit investment property in Lompoc's historic desirable southside area? If so, this one's for you! Rarely available charming 1937 home that has 4 beds, 2 baths, 1,881 sqft, along with a quality permitted second unit built in 1992 that has 2 bedrooms, 2 baths and 1,064 sqft. of living space. Want to INCREASE YOUR INCOME rather than have an oversized garage? Yes, you have the option to convert the garage to an ADU as the current owner has plans that were approved from the city of Lompoc to convert the garage into a 1 bed 568 sqft ADU. Please know that no expense was spared as the front house and rear unit have separate meters (gas, electrical and water) and all are underground. What makes this home unique is that it can serve many purposes! First, if you are an investor, convert the garage to a 1 bed ADU and rent the large home, the second unit and the ADU for income. A local property management company stated that the current market rent for the two homes is $4,900 and with the ADU the total market rent for the 3 units would be $6,500. Second, if you have in-laws or a parent that you need to take care of or needs assistance, let them live in the second unit as that was the purpose it served for 28 years. Third, if you are looking at buying a quality home to live in to take advantage of owner-occupied financing, you can occupy the large 1,881 sqft home and receive rent for the 2-bedroom unit and the ADU to help pay your mortgage. You decide what is best for you. The major expenses have been completed. All roofs were stripped and replaced by McIntosh Roofing in 2016 with Landmark TL lifetime composition shingles and all rotted wood and fascia was replaced. The charming 1937 front home features: upgraded vinyl dual pane windows, plaster walls with some rounded ceilings with the old-style texture; refinished original oak wood flooring, newer engineered stone counter tops in the kitchen, tile baths, a private patio and all the unique features you would expect from a home built in 1937. The second unit was built in 1992 and was renovated in 2019. This entailed replacing all flooring, painting the entire interior, and a new tile shower upstairs. This unit has 2 beds, 2 baths, custom kitchen cabinets with glass panes, and a second story balcony off the master bedroom. The landscaping features custom exposed aggregate and brick walkways in the front, redwood decking and walkways at the rear, a brick paver patio in front of the second unit, and a stained concrete area in the back that can be used for RV parking or a play area. This unique property located in the Lompoc's older desirable south side has a lot to offer. Whether you're an investor looking for rental income, a family looking to live in the older historic section of Lompoc, or need a home that will allow you have separate living spaces while you care and assist someone close to you, this property will meet your needs. Please don't hesitate to check out this beautiful older home with a second unit in Lompoc's desirable south side neighborhood as it is in walking distance to the farmer's market, coffee shop, restaurants, breweries, the theatre, and all that Old Town Lompoc has to offer. Centrally located in Santa Barbara County, this Central Coast location offers a short commute to the Sta. Rita Hills AVA, Vandenberg Space Force Base, the Santa Ynez Valley, and Santa Barbara. This is one you do not want to miss!