25
See all 25 photos
$6,995,000
Est. payment /mo
22 BA
7,088 SqFt
Pending
427 W Islay ST Santa Barbara, CA 93101
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UPDATED:
12/05/2024 03:25 AM
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 7,088 sqft
Price per Sqft $986
MLS Listing ID 24435575
HOA Y/N No
Lot Size 0.370 Acres
Property 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.
Location
State CA
County Santa Barbara
Area Vc81 - Santa Barbara
Zoning R-4
Rooms
Other Rooms Shed(s)
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Common Area
Exterior
Parking Features Uncovered
Total Parking Spaces 22
Building
Story 2
Entry Level Two
Level or Stories Two
Additional Building Shed(s)
New Construction No
Others
Senior Community No
Tax ID 027081021
Special Listing Condition Standard
Listed by Stephen Epstein • Keller Williams Realty Santa Barbara