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$ 4,495,000
Est. payment | /mo
5,451 SqFt
$ 4,495,000
Est. payment | /mo
5,451 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,451 sqft
Price per Sqft $824
Subdivision 15 - East Beach
MLS Listing ID 26-2413
Year Built 1958
Lot Size 10,018 Sqft
Acres 0.23
Lot Dimensions 10018.0
Source Santa Barbara Multiple Listing Service
Property Description
Accessible price point for A+ location apartments by Santa Barbara's waterfront and East Beach, openly for sale for the 1st time since built in 1958. Featuring 8 generous-sized units - 6 x 1-BR over 600 gross SF (meas.), plus 2 x 2-BR over 900 gross SF (meas.) - price is $562K/unit or $825/SF, well below market for the very limited multi-family inventory near the beach of one of world's most renowned coastal communities. Highlights include attractive landscaping around a central green courtyard, high vaulted wood beam ceilings in the 4 upstairs units, moderately updated interiors, and a long pride-of-ownership history. Opportunity for the patient investor to realize long-term cap rates far above historic cap rates for Santa Barbara's beach areas; see pro-forma in unbranded OM in Documents
Location
State CA
County Santa Barbara
Community 15 - East Beach
Interior
Heating Forced Air
Cooling None
Laundry Laundry Room
Exterior
Parking Features Carport
Building
Lot Description Near Public Transit
Foundation Slab
New Construction No
Others
Tax ID 017-321-004
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Listed by Berkshire Hathaway HomeServices California Properties
Schools and Properties Nearby
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