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Listed by Steve Golis Radius Commercial RE
$ 7,500,000
Est. payment | /mo
385,942 SqFt
$ 7,500,000
Est. payment | /mo
385,942 SqFt
Key Details
Property Type Other Types
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 385,942 sqft
Price per Sqft $19
MLS Listing ID 26001416
Lot Size 8.860 Acres
Acres 8.86
Property Sub-Type Multi Family
Source North Santa Barbara County Regional MLS
Property Description
Mesa Trails Apartment Community presents a rare opportunity to acquire a fully entitled, 240-unit market-rate multifamily development in Nipomo, California, one of the Central Coast's most attractive and supply-constrained housing markets. Situated on approximately 8.86 acres with direct access to U.S. Highway 101, the project combines entitlement certainty, strategic regional connectivity, and exposure to a market where demand for quality housing continues to exceed available inventory.
The project received full approval from the San Luis Obispo County Planning Comm. in February 2024, including Conditional Use Permit approval and CEQA clearance through an adopted Mitigated Negative Declaration. With all major discretionary approvals secured, a new owner can advance directly toward construction permitting, eliminating a significant portion of the entitlement risk, cost, and timeline typically associated with multifamily development in California.
Nipomo occupies a strategic position between Santa Maria and San Luis Obispo and benefits from access to the Central Coast's primary employment centers, educational institutions, healthcare providers, and regional economic drivers. Supported by a diverse economy and an increasingly affluent population base, the area continues to experience sustained housing demand while maintaining significant barriers to new supply.
As one of the few large-scale multifamily development opportunities on California's Central Coast offering both entitlement certainty and market-rate positioning, Mesa
Trails represents a compelling opportunity
to deliver new housing in a market defined
by strong fundamentals, limited inventory
and long-term growth potential.
The project received full approval from the San Luis Obispo County Planning Comm. in February 2024, including Conditional Use Permit approval and CEQA clearance through an adopted Mitigated Negative Declaration. With all major discretionary approvals secured, a new owner can advance directly toward construction permitting, eliminating a significant portion of the entitlement risk, cost, and timeline typically associated with multifamily development in California.
Nipomo occupies a strategic position between Santa Maria and San Luis Obispo and benefits from access to the Central Coast's primary employment centers, educational institutions, healthcare providers, and regional economic drivers. Supported by a diverse economy and an increasingly affluent population base, the area continues to experience sustained housing demand while maintaining significant barriers to new supply.
As one of the few large-scale multifamily development opportunities on California's Central Coast offering both entitlement certainty and market-rate positioning, Mesa
Trails represents a compelling opportunity
to deliver new housing in a market defined
by strong fundamentals, limited inventory
and long-term growth potential.
Location
State CA
County San Luis Obispo
Exterior
Private Pool No
Others
Senior Community No
Tax ID 092-579-014
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
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