Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    605 Newlove Dr Santa Maria, CA 93454-7630
    Back to Search
    Property profile & analytics

    605 Newlove Dr, Santa Maria, CA 93454-7630

    View on Map
    • Apartment buildings
    • 1.55 lot acres
    Off-Market
    Last Sale Sep 30, 2021
    $5,195,000
    Property ID
    US09-2043287
    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.
    Value Estimations
    $4,965,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Los Pinos Court Apartments / Apartment Building

    Property Details for 605 Newlove Dr

    Lot size
    1.55 lot acres
    Property type
    Apartment buildings
    APN
    128-074-061
    APU
    128074061

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 30, 2021 $5,195,000 Los Pinos Kps LP 605 East Newlove Associates LP Grant Deed $3.7M · Montecito Bank & Trust
    May 26, 2017 — 605 East Newlove Associates LP — Deed · related $1M · Montecito Bk&tr
    Mar 20, 1998 $2,067,000 605 East Newlove Associates LP Newlove Partnert LP Grant Deed · related $2.1M · Seller
    — — 605 East Newlove Associates LP — Deed Of Trust · related $1M · Montecito Bk&tr

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,725,000
      ML approach
      $4,750,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Maria
    County
    Santa Barbara
    State
    California
    Longitude
    -120.428
    Latitude
    34.9305
    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
    $4,150
    $2,314,890
    $3,089,988
    $5,404,878
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      1009 Jones St

      APARTMENT HOUSE (5+ UNITS)
      1009 Jones St, Santa Maria, CA 93454-6317
      View Details
    • Value Estimation
      $640,000
      9.50 Acres

      530 Boone St

      APARTMENT HOUSE (5+ UNITS)
      530 Boone St, Santa Maria, CA 93454-5870
      View Details
    • Value Estimation by Request
      0.55 Acres

      120 Broadway

      APARTMENT HOUSE (5+ UNITS)
      120 Broadway, Santa Maria, CA 93454-4469
      View Details
    • Value Estimation by Request
      1.68 Acres

      280 Newlove Dr

      APARTMENT HOUSE (5+ UNITS)
      280 Newlove Dr, Santa Maria, CA 93454-7669
      View Details
    • Value Estimation by Request
      0.37 Acres

      1014 Rose Pl

      APARTMENT HOUSE (5+ UNITS)
      1014 Rose Pl, Santa Maria, CA 93454-2452
      View Details
    • Value Estimation by Request
      0.23 Acres

      311 Mcelhany Ave

      APARTMENT HOUSE (5+ UNITS)
      311 Mcelhany Ave, Santa Maria, CA 93454-3164
      View Details

    Similar Nearby for Sale

    • $100,000
      Pending

      Furnished Cottages in Santa Maria

      100 furnished cottages suitable for workforce or community housing.
      1324 N Broadway, Santa Maria, CA 93454
      View Details
    • $9,500,000
      Pending

      Furnished Santa Maria Workforce Housing

      Four-acre property with 100 cottages, ideal for workforce housing.
      1324 N Broadway, Santa Maria, CA 93454
      View Details
    • New
      $549,900
      920 SF

      Two-Unit Residence with Attached Studio

      Two self-contained units offer flexible living arrangements and potential rental income on one property.
      410 E Fesler St, Santa Maria, CA 93454
      View Details
    • $559,000
      6,970.00 Acres

      Prime Development Opportunity in Santa Maria

      High-visibility corner lot ideal for commercial or mixed-use development.
      Main St, Santa Maria, CA 93454
      View Details
    • $695,000
      1,402 SF

      Unique Santa Maria Office Opportunity

      Converted office with character, suitable for various professional services.
      117 E Fesler St, Santa Maria, CA 93454
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Fully Leased Santa Maria Retail

      Retail property in Santa Maria, currently 100% leased.
      2407 S Broadway, Santa Maria, CA 93454
      View Details
    • Contact for pricing

      Industrial Property on Palmer Road

      Industrial property with building and acreage available for lease.
      6801 Palmer Rd, Santa Maria, CA 93454
      View Details
    • Contact for pricing
      2,085 SF

      Santa Maria Retail Space Available

      Retail space for lease in Santa Maria Commerce Center.
      230-238 Betteravia Rd, Santa Maria, CA 93454
      View Details
    • Contact for pricing

      Medical Office Space Available

      Medical office suites available in Marian Medical Plaza.
      525 Plaza Dr, Santa Maria, CA 93454
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    605 Newlove Dr
    Santa Maria, CA 93454-7630
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    605 Newlove Dr, Santa Maria, CA, 93454
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!