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
Price:
$2,760,000
MLS #:
PI25159888
Status:
Active
Baths:
0
Address:
733 N C Street
Type:
Residential Income
Subtype:
Apartment
Subdivision:
North East Lmpc47
Neighborhood:
lomplompoc
City:
Lompoc
Listed Date:
Jul 22, 2025
State:
CA
ZIP:
93436
Lot Size:
23,087 sqft / 0.53 acres (approx)
Year Built:
1960
See this Listing
Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
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Schools
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
2
Water Source
Public
Financial
Tenant Pays
Electricity, Gas
Map
Community
- Address733 N C Street Lompoc CA
- AreaLOMP – Lompoc
- SubdivisionNorth East Lmpc(47)
- CityLompoc
- CountySanta Barbara
- Zip Code93436
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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.733 N C Street
Lompoc, CA
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