Triplex with Multiple
509 E Boone, Santa Maria, CA 93454
For Sale
New
$1,100,000
Pending
The property combines a single-level home with a newer duplex, with separate garage parking for each residence.
Property Size3,632 SF
Days on Market6
Property Features for 509 E Boone
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Res Com Services
Listed By:
Kevin Zepeda · License CA #01371903
(805) 431-1166
Source:
Elliman
Added: Nov 8
Changed: Nov 12
Last Checked: Nov 12 at 8:06AM
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 Res Com Services
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Investment Insights
Based on property information with market context.
This three-unit residential property pairs a single-level, two-bedroom home with a duplex containing two three-bedroom units. The front house dates to 1948 and has a detached one-car garage. Built in 2020, the duplex features an open layout, separate entrances on opposite sides, and two attached single-car garages.
The property is on the east side of Santa Maria, with alley access behind the buildings. Off-street parking and a small yard are also included.
The property is on the east side of Santa Maria, with alley access behind the buildings. Off-street parking and a small yard are also included.
Key Highlights
- Three residences: one 2‑bedroom home and two 3‑bedroom duplex units
- 1948‑built single‑level home with a detached 1‑car garage
- 2020‑built duplex with open floor plan and entrances on opposite sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,724
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,214,480
$1.2M
Cap Rate 7%
$867,486
$867.5K
Cap Rate 9%
$674,711
$674.7K
Market Conditions
NOI Build-Up for 3,632 SF
Gross rent
$91.5K $25.20/SF
− Vacancy
−$4.8K −$1.32/SF
EGI
$86.7K $23.88/SF
− OpEx
−$26.0K −$7.17/SF
NOI
$60.7K $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%
$1,214,480
Cap Rate 7%
$867,486
Cap Rate 9%
$674,711
Alternative Uses
Best Use
Multifamily LT 5
$867.5K
$759.1K – $1.01M
NOI $60,724 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$754.0K
$659.8K – $879.7K
NOI $52,781 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,913 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,900
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines a single-level home with a newer duplex, with separate garage parking for each residence.
Where is this triplex located?
The property is located at 509 E Boone Santa Maria, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three residences: one 2‑bedroom home and two 3‑bedroom duplex units; 1948‑built single‑level home with a detached 1‑car garage; 2020‑built duplex with open floor plan and entrances on opposite sides
