Lompoc, CA 93436 733 N C Street
$2,760,000
Presented By: Steven Battaglia with Steven Battaglia, Broker; 8056806431
- MLS# PI25159888
- 07/22/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 8
Baths • 2
SQFT • 11,254
Home Details
Coral Apartments in Lompoc is a well maintained 22-unit multifamily apartment complex in Lompoc with upgraded copper plumbing, newer ABS sewer lines, newer gas heaters, upgraded tile bathrooms, and more. The (8) 1-bedroom and (14) studios apartments surround a tastefully landscaped courtyard, and residents enjoy the comfort of security gates and camera system in addition to on-site parking and a common laundry room. The property is operated subject to an affordable covenant that expires in 2034 which restricts the renting of the apartments to “Low” or “Very Low” Income Households. Even with the affordable restrictions, there is strong upside in rents that can yield a Proforma CAP rate of 9.6% giving the savvy investor “value-add” opportunity in the short term with additional upside once the affordable agreement expires.
Presented By: Steven Battaglia with Steven Battaglia, Broker; 8056806431
Interior Features for 733 N C Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
FlooringLaminate, Vinyl
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 733 N C Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.17
Carport Y/NNo
CityLompoc
Community FeaturesSidewalks
CoolingNone
CountySanta Barbara
DirectionsFrom Highway 101, take Rte 246 west toward Lompoc, continue on Rte 246 into town, turn right onto A Street followed by a left onto Pine Ave, then left on Cst. 733 N C Street will be on the Right.
Electric Expense1.0
Entry Location1
Fuel Expense1.0
Garage Spaces0.0
Garage Y/NNo
Gross Income229800.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense7440.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Exchange1031
Lot Size Square Feet23087.0
Lot Size UnitsSquareFeet
MLS AreaLOMP - Lompoc
MobileHomeRemainsYNNo
Net Operating Income115137.0
New ConstructionNo
Number Of Units Total22
Open Parking Spaces19.0
Operating Expense103173.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofComposition, Shingle
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Subdivision NameNorth East Lmpc(47)
Tax Lot2
Tenant PaysElectricity, Gas
Trash Expense1.0
Water Sewer Expense1.0
Year Built1960
Year Built SourcePublicRecords
Exterior for 733 N C Street
Building Area Total11254.0
Crops Included Y/NNo
Foundation DetailsSlab
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesThirtySixToFortyUnitsAcre
Lot Size Acres0.53
Lot Size Area23087.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters23
Number of Separate Gas Meters23
Number of Separate Water Meters1
Parking FeaturesOnSite, OffStreet
Private PoolNo
Road Frontage TypeCityStreet
Road Surface TypePaved
SpaNo
Total Parking19.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate