Pending
427 W Islay Street
Santa Barbara CA, 93101
$6,995,000
$986.88 per sqft
Pending
22 Baths
7,088 sqft
Residential
Listed by Stephen Epstein with Keller Williams Realty Santa Barbara 805-689-9339
22 Units in the Heart of Santa Barbara. This is an incredible investment opportunity, ideally situated to take advantage of the city's robust rental market. This property features a mix of 1-bedroom, 1-bathroom apartments and cozy studios. A convenient common laundry facility adds to the property's appeal for tenants. Recent upgrades too numerous to mention. Ample off-street parking. Priced to deliver a cap rate of over 5, this investment offers both strong cash flow and potential for long-term appreciation. With its prime location near Cottage Hospital and the entire medical district, residents will enjoy easy access to Santa Barbara's dining, shopping, and entertainment, making this property a standout addition to any investor's portfolio.
24435575
MLSⓇ ID
September 9, 2024
Listed
October 23, 2024
Updated
Map
427 W Islay Street
Santa Barbara CA, 93101
Interior Features
Total Stories
2
Total Bathrooms
22
Appliances
Refrigerator
Laundry Description
Common Area
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.37 Acres
Other Property Details
Area Name
VC81 - Santa Barbara
Days on Market
42
Garage
No
Parking
Uncovered
Parking Total
22
View
No
County
Santa Barbara
Pool
No
Zoning
R-4
Listing History
Date | Event | Price |
|---|---|---|
10/22/2024 | Pending | — |
10/10/2024 | Price change | $6,995,000 -6% |
Listing Contact: 805-456-3600
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 10/23/2024 at 11:14 AM UTC