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    1015 Russell Ave Santa Maria, CA 93458

    For Sale
    $1,198,000

    15-unit apartment building in Santa Maria, CA. Rehab potential.

    Property size:
    12,300 SF

    Property Features for 1015 Russell Ave

    General Information

    Size
    12,300 SF

    Source: Kevin King BRE#01932713 Agent Kevin King BRE#01932713

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Santa Maria Multifamily Rehab Opportunity

    This 15-unit apartment building presents a rehabilitation opportunity for investors. The property features a mix of unit types, including a 2-bedroom owner's unit and fourteen 1-bedroom units. The location is on South Russell Avenue & West Las Flores Way in Santa Maria. The property also includes carports and a courtyard. The building's total size is 12,300 square feet. The property is positioned as a rehabilitation project with upside potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Maria
    County
    Santa Barbara
    State
    California
    Longitude
    -120.4528564
    Latitude
    34.9421831

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    FAQs

    What type of property is this?
    Apartment building - 15-unit apartment building in Santa Maria, CA. Rehab potential.
    Where is this apartment building located?
    The property is located at 1015 Russell Ave Santa Maria, CA.
    What is the asking price?
    The asking price for this property is $1,198,000.
    What are key features of this property?
    This property features: - Opportunity to build instant equity through a rehab project.; - Projected 7.2% return on investment after rehabilitation and stabilization.; - Estimated net operating income of $104,910 upon stabilization.
    (805) 801-0176
    Request Owner's contact information
    1015 Russell Ave Santa Maria, CA 93458
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    Santa Maria, CA 93458
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1015 Russell Ave Santa Maria, CA 93458
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