427 W Islay Street

Santa Barbara, CA 93101 $400,000.00 (-5.41%) Pending for $6,995,000

Overview
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Beds: 0 Baths: 22 Structure Size: 7,088 sqft Lot Size: 16,117 sqft

Property Facts

MLS	24435575
Year Built
Property Type
County	Santa Barbara
Status	Pending
Pending	$6,995,000
Structure Size	7,088 sqft
Lot Size	16,117 sqft
Beds	0
Baths	22

Description

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.

Listing information courtesy of: Stephen Epstein, Keller Williams Realty Santa Barbara 805-689-9339. *Based on information from the Association of REALTORS/Multiple Listing as of 11/28/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.