516 N U St
Description
City of Lompoc. The property consists of ten 1‑bed/1‑bath units with current rents notably below market, offering substantial upside through strategic renovations and rent repositioning. Situated on a 13,938 SF lot, the asset
benefits from steady local rental demand and proximity to key employers, services, and community amenities. With clear pathways to enhance income and long‑term value, this offering...516-520 N U Street presents a prime value‑add multifamily opportunity in the
City of Lompoc. The property consists of ten 1‑bed/1‑bath units with current rents notably below market, offering substantial upside through strategic renovations and rent repositioning. Situated on a 13,938 SF lot, the asset
benefits from steady local rental demand and proximity to key employers, services, and community amenities. With clear pathways to enhance income and long‑term value, this offering is well‑suited for investors seeking growth
potential in a supply‑constrained Central Coast market.
- Listed by Michael Lopus • DRE #01970736 • Colliers International Greater Los Angeles, Inc.P: (805)-680-8806 C: (805)-680-8806 mike.lopus@colliers.com
Property Details for 516 North U Street
Property Details for 516 North U Street
| Status | Active |
|---|---|
| MLS # | 26-491 |
| Days on Market | 48 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Multi-Family |
| Year Built | 1960 |
| Lot Size | - |
| County | Santa Barbara County |
Location
Building Information for 516 North U Street
Payment Calculator
$7,906 per month
30 year fixed, 6.11% Interest
$7,280
$626
$0
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1Property Information for 516 North U Street
- District: 55 - LOMPOC
- District: 55 - LOMPOC
- Year Built Numeric: 1960
- Building Area Total: 0.0
- Parcel Number: 089-152-014
- Association Fee: $.00
- Total Bathrooms: .00
- Bathrooms Total (Decimal): .00
- Bathrooms Total (Notational): .00
- Elementary School: CLA
- Junior High School: Other
- High School: Other
- NeighborhoodSchools:Elementary School: CLA
- NeighborhoodSchools:Junior High School: Other
- NeighborhoodSchools:High School: Other
- Property Type Label: Res Inc
- Property Information:Realtor.com Type: Multi-Family
- Property Information:Year Built: 1960.0
- Income/Expenses:Insurance: $13,720
- Income/Expenses:Electric Expense: $6,300
- Income/Expenses:Gas Expense: $412
- Income/Expenses:Trash Expense: $166
- Income/Expenses:Maintenance Expense: $6,500
- Income/Expenses:Total Monthly Exp: $53,760
- Income/Expenses:Total Monthly Income: $121,066
- Electric Expense: $6,300
- Insurance Expense: $13,720
- Maintenance Expense: $6,500
- Trash Expense: $166
- Gas Expense: $412
- Number Of Units Total: 10
- Unit 1:# Units: 10
- Unit 1:# Bedrooms: 1
- Unit 1:# Baths: 1
- Unit 1:# Half Baths: 0
- Unit 1:Rent: $935.00
- Unit 1:Monthly Total: $935.00
- Unit 2:# Bedrooms: 1
- Unit 2:# Baths: 1
- Unit 2:Monthly Total: $935.00
- Unit 3:# Bedrooms: $1.00
- Unit 3:# Baths: 1
- Unit 3:Monthly Total: $920.00
- Unit 4:# Bedrooms: 1
- Unit 4:# Baths: 1
- Unit 4:Monthly Total: $1,100.00
- Total Actual Rent: $121,066
Property History for 516 North U Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Feb 12, 2026 | Listed (Active) Santa Barbara AOR #26-491 | $1,500,000 | — |
| Jun 28, 2024 | Permanently Off Market NSBCMLS #23001825 | $800,000 | — |
| May 3, 2024 | Listed (Active) NSBCMLS #23001825 | $995,000 | — |
| Dec 15, 2022 | Sold (Public Record) Public Record #1503053104 | $625,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 02/12/2026 | Listed (Active) Santa Barbara AOR #26-491 | $1,500,000 |
| 06/28/2024 | Permanently Off Market NSBCMLS #23001825 | $800,000 |
| 05/03/2024 | Listed (Active) NSBCMLS #23001825 | $995,000 |
| 12/15/2022 | Sold (Public Record) Public Record #1503053104 | $625,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 516 North U Street
Schools near 516 North U Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Clarence Ruth Elementary School PublicK to 6 | ||
Lompoc Valley Middle School Public7 to 8 | ||
Lompoc High School Public9 to 12 | ||
Dr Bob Forinash Community Day Public7 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Colliers International Greater Los Angeles, Inc., Michael Lopus, DRE #01970736
Based on information from one of the following Multiple Listing Services: Santa Barbara MLS and North Santa Barbara County Regional MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS and North Santa Barbara County Regional MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
