733 N C Street Lompoc CA 93436 MLS #PI25159888

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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.

Property Details

Interior

Cooling

None

Flooring

Laminate, Vinyl

Heating

Wall Furnace

Exterior

Community Features

Sidewalks

Foundation Details

Slab

Garage Spaces

0.00

Lot Features

36-40 Units/ Acre

Parking Features

Off Street, On Site

Parking Spots

19.00

Pool Features

None

Roof

Composition, Shingle

Sewer

Public Sewer

Spa Features

None

Stories Total

Water Source

Public

Financial

Tenant Pays

Electricity, Gas

Lompoc Neighborhoods

Courtesy of Steven Battaglia, Broker. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.

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