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The Lofts at 511 Cook St | 11 Units 511 W Cook St 11 Unit Apartment Building $4,386,528 CAD ($398,775 CAD/Unit) Santa Maria, CA 93458

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Investment Highlights

Unit mix: (11) 1BD/1BA (8 standard, 3 townhouse-style).
GRM: Current: 12.98 • Market: 12.74.
$1,600,000 assumable agency loan in place with 3.77% interest only, subject to lender approval and a 1% assumption fee.

Cap rates: Current: 5.21% • Market: 5.37%.
3.77% interest assumable debt available at 48.7% LTV through November 30, 2029.

Executive Summary

Positive Leverage From Day 1 w/ Assumable Agency Loan | The Lofts at 511 Cook Street is a distinctive 11 unit multifamily property in the heart of Santa Maria, featuring all 1 bedroom, 1 bathroom apartments, including three loft- or townhouse-style units that offer unique architectural character and a modern, upscale feel. The building spans 6,946 square feet and includes ample off-street parking, and an on-site laundry facility. Detached garages provide an easy value-add opportunity for a new owner, with potential for ADU conversion.
Centrally located just minutes from downtown Santa Maria, residents enjoy convenient access to shops, restaurants, and local amenities. With its blend of standard and loft-style units, this property offers a compelling mix of functionality and style, making it appealing to young professionals, singles, and small households. It represents an outstanding opportunity for investors seeking a turnkey multifamily asset with both income stability and long-term growth potential.
$1,600,000 assumable agency loan in place with 3.77% interest only, subject to lender approval and a 1% assumption fee. Please contact Listing Agents for further details.
ALSO AVAILABLE FOR PURCHASE AS A 2-PROPERTY PORTFOLIO. BOTH PROPERTIES UNDER SAME OWNERSHIP: THE LOFTS AT 511 COOK ST & AGNES APARTMENTS.

The Lofts at 511 Cook St | 511 W. Cook St., Santa Maria, CA 93458

Property Facts

Price	$4,386,528 CAD	Building Class	C
Price Per Unit	$398,775 CAD	Lot Size	0.41 AC
Sale Type	Investment	Building Size	6,946 SF
No. Units	11	No. Stories	2
Property Type	Multifamily	Year Built	1975
Property Subtype	Apartment	Parking Ratio	2.3/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R-2

Price	$4,386,528 CAD
Price Per Unit	$398,775 CAD
Sale Type	Investment
No. Units	11
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.41 AC
Building Size	6,946 SF
No. Stories	2
Year Built	1975
Parking Ratio	2.3/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R-2