RTI 50-Unit Multifamily Development In Santa Maria

An exceptional opportunity to acquire a fully entitled Ready-to-Issue (RTI) multifamily development site in Santa Barbara County. This shovel-ready project is approved for the construction of a 50-unit apartment community, allowing developers to commence construction immediately while avoiding the lengthy entitlement process. The approved development consists of a 50-unit garden-style, low-rise apartment community with an efficient site layout incorporating parking and central amenities. Offered at approximately $38,000 per approved unit, the project provides an attractive acquisition basis in one of California's most supply-constrained rental markets. The RTI status significantly reduces development risk and can save an estimated 12 to 24 months in project timelines. Santa Maria continues to experience strong rental demand supported by major employers including Marian Regional Medical Center, Vandenberg Space Force Base, Allan Hancock College, and the region's expanding agricultural and wine industries. Population growth, limited housing supply, and excellent access to US-101 continue to strengthen the long-term fundamentals for multifamily investment throughout the Central Coast. This development offers multiple investment strategies, including build-to-hold for long-term rental income and appreciation or build-to-sell upon stabilization. Contact us today to receive the offering memorandum or discuss this outstanding development opportunity.