427 W Islay Street, Santa Barbara, CA 93101
- $6,995,000
- List Price
- $6,995,000
- Price Change
- ▼ $400,000 1728611295
- Days on Market
- 34
- MLS#
- 24-2981
- Year Built
- 1968
- County
- Santa Barbara
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 percent, 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.
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Additional Information
- Area
- SB/WEST OF STATE
- Lot Sq. Footage
- 16,117
- Remarks
- 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 percent, 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.
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Listing courtesy of Keller Williams Realty Santa Barbara.