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    Property profile & analytics

    310 5th St Solvang, CA 93463-2770

    • Apartment buildings
    • 0.20 lot acres
    OFF-MARKET
    Value Estimation
    $290,000
    Location Intelligence
    Property ID
    US09-1414746
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 310 5th St

    Lot size
    0.20 lot acres
    Property type
    Apartment buildings
    APN
    139-200-012
    APU
    139200012

    Description

    This exceptional investment opportunity presents a well-maintained, 10-unit apartment building nestled in the heart of Solvang, California. The property, situated at 310 5th St, boasts a total of 8,712 square feet on a similarly sized lot (APN 139-200-012). The two-story building comprises ten one-bedroom, one-bathroom units, each equipped with separate electric and gas meters. Residents enjoy the convenience of a shared laundry room and off-street parking. Recent upgrades (within the last five years) include new laminate flooring in many units, a new water heater, updated dual-pane windows, and a completely resurfaced asphalt driveway and parking lot. The property is zoned DR-20 and offers significant upside potential, with over 40% potential rent increases. The current pro-forma NOI is $162,788, yielding a 4.52% cap rate at the asking price of $3,600,000. This property's prime location provides easy access to Solvang's vibrant downtown area, featuring numerous restaurants, galleries, and shops. This is a rare chance to acquire a strong-performing multifamily asset in a highly desirable location.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $265,000

    • CAP approach

      CAP return
      Estimation
      6%
      $365,000
      6.5%
      $330,000
      7%
      $370,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $345,000
      Geo Method
      $365,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $390,000
      Retail
      $445,000
      Mixed-Use
      $370,000
      Hospitality
      $365,000
      Educational
      $385,000
      Residential Income
      $345,000
      Energy
      $365,000
      Income-Based Land
      $420,000
      Food Service
      $340,000

    Location Insight

    • Map
    • Local Demand
    City
    Solvang
    County
    Santa Barbara
    State
    California
    Longitude
    -120.145
    Latitude
    34.5932
    CBSA code
    42200
    CBSA name
    SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,300
    $30,494
    $184,098
    $214,592
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation by Request
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      1642 Eucalyptus Dr

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      1720 Laurel Ave

      APARTMENT HOUSE (5+ UNITS) • 3.34 Acres
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      View Details
    • Value Estimation
      $2,775,000
      0.28 Acres

      253 3rd St

      APARTMENT HOUSE (5+ UNITS) • 0.28 Acres
      253 3rd St, Solvang, CA 93463-2824
      View Details

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    310 5th St
    Solvang, CA 93463-2770
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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
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