Description
Value Added Opportunity. First time on market. Four Units in prime Santa Barbara location. Dual upside in additional rental income, plus development opportunity for multi-story expansion. The property runs through from the main street to the rear alley, allowing dual entrances, while offering ongoing consistent rental income with long-term investment and new construction potential. Lot size and zoning allows for additional units. Current scheduled Gross Income: $105,600/yr. Recently renovated. Easy 10 minute walk to downtown and 1 minute to the Milpas corridor. 3 minute drive to East Beach. Currently at 100% occupancy. 7 Bedrooms total across 4 units. 2+1; 1+1+Loft; 3+1; 1+1 rear separate unit. Additionally, may be developed into lovely single family residence in the downtown corridor.
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7BEDS
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0.26ACRES
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4BATHS
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01/2 BATHS
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2,360SQFT
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$1,059$/SQFT
School Information
Description
Value Added Opportunity. First time on market. Four Units in prime Santa Barbara location. Dual upside in additional rental income, plus development opportunity for multi-story expansion. The property runs through from the main street to the rear alley, allowing dual entrances, while offering ongoing consistent rental income with long-term investment and new construction potential. Lot size and zoning allows for additional units. Current scheduled Gross Income: $105,600/yr. Recently renovated. Easy 10 minute walk to downtown and 1 minute to the Milpas corridor. 3 minute drive to East Beach. Currently at 100% occupancy. 7 Bedrooms total across 4 units. 2+1; 1+1+Loft; 3+1; 1+1 rear separate unit. Additionally, may be developed into lovely single family residence in the downtown corridor.
© 2021 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2021-04-19T17:47:07.673. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2021-04-19T17:47:07.673.