3-Unit Triplex
For Sale
$1,075,000
1029 Big Pine Dr, Santa Maria, CA 93454
Three fully rented residences offer separate living areas, kitchens, outdoor space, and convenient on-site parking.
Property Size2,146 SF
Price / SF$500.93
Days on Market110
Property Features for 1029 Big Pine Dr
General Information
Standard status
Active
Size
2,146 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
backyard
laundry area
shed
outside storage area
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
PB & Associates
Listed By:
Sandra Carino · License #02007590
(805) 748-9044
Source:
Santaynezvalleyhomesforsale
Added: Jun 27
Changed: Oct 1
Last Checked: Oct 12 at 7:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PB & Associates
Investment Insights
Based on property information with market context.
This triplex at 1029 Big Pine Dr includes a 3-bedroom, 2-bath main residence with a vaulted-ceiling living room, dining area, kitchen, large backyard, separate laundry area with hookups, and a large shed. A 1-bedroom, 1-bath junior ADU provides its own kitchen and living area, along with exterior storage. The attached 2-bedroom, 1-bath ADU includes kitchen, dining, and living spaces plus a backyard. The junior and attached ADUs were built in 2023, while the original property dates to 1978.
All three residences are fully rented to month-to-month tenants. The property also provides parking in the driveway and along the front of the house. Shopping, restaurants, schools, parks, medical centers, and the 101 Freeway are nearby. The location has a Walk Score of 23 and a Bike Score of 50.
All three residences are fully rented to month-to-month tenants. The property also provides parking in the driveway and along the front of the house. Shopping, restaurants, schools, parks, medical centers, and the 101 Freeway are nearby. The location has a Walk Score of 23 and a Bike Score of 50.
Key Highlights
- Three‑unit property with a 3‑bedroom, 2‑bath main residence and two ADUs
- Junior ADU: 1 bedroom and 1 bath, with kitchen, living area, and exterior storage
- Attached ADU: 2 bedrooms and 1 bath, plus kitchen, dining, living area, and backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,879
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,580
$717.6K
Cap Rate 7%
$512,557
$512.6K
Cap Rate 9%
$398,656
$398.7K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$54.1K $25.20/SF
− Vacancy
−$2.8K −$1.32/SF
EGI
$51.3K $23.88/SF
− OpEx
−$15.4K −$7.17/SF
NOI
$35.9K $16.72/SF
Area
Santa Maria, CA
Vacancy
5.22%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,580
Cap Rate 7%
$512,557
Cap Rate 9%
$398,656
Alternative Uses
Best Use
Multifamily LT 5
$512.6K
$448.5K – $598.0K
NOI $35,879 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$445.5K
$389.8K – $519.8K
NOI $31,186 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$725.2K
$634.5K – $846.0K
NOI $50,762 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 93454, CA
40,994
Population
12,413
Households
3.3
Avg Household Size
33
Median Age
18%
College-Educated
74%
High-School Grad
418.3 sq mi
ZIP Area
98
Density / Sq Mi
$84,178
Median Household Income
$34,883
Median Earnings
$1,750
Median Rent
$477,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three fully rented residences offer separate living areas, kitchens, outdoor space, and convenient on-site parking.
Where is this triplex located?
The property is located at 1029 Big Pine Dr Santa Maria, CA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Three‑unit property with a 3‑bedroom, 2‑bath main residence and two ADUs; Junior ADU: 1 bedroom and 1 bath, with kitchen, living area, and exterior storage; Attached ADU: 2 bedrooms and 1 bath, plus kitchen, dining, living area, and backyard
