RTI 50-Unit Apartment Development In Santa Maria

This shovel-ready multifamily development presents a rare opportunity to acquire a fully entitled Ready-To-Issue (RTI) apartment project in the growing Santa Maria market within Santa Barbara County. With approvals already in place, developers can bypass the lengthy entitlement process and proceed directly to construction, significantly reducing project timelines and development risk. The approved project consists of a 50-unit garden-style, low-rise apartment community with an efficient site layout incorporating parking and shared amenities. Priced at approximately $38,000 per approved unit, the development offers an attractive entry point into one of California's high-demand rental markets, where limited housing supply and strong long-term rental demand support future value appreciation. Located in the heart of Santa Maria, the property benefits from excellent access to US-101, major employers, healthcare facilities, educational institutions and the region's expanding wine industry. Demand is driven by Marian Regional Medical Center, Vandenberg Space Force Base, Allan Hancock College, agriculture, aerospace and tourism, providing a strong foundation for long-term multifamily investment. This development is ideally suited for builders, developers and joint venture partners seeking a fully approved project with immediate construction potential. Enquire today to receive additional information and access the full offering memorandum.