427 W Islay Street

Santa Barbara, CA 93101

PRICE REDUCED

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-$400,000 (-5.41%)

$6,995,000

List Price

0

bed Beds

22

shower Baths

7,088 sqft

straighten / sqft

calendar_month Built

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.

Listing Information

List Price $6,995,000
Status Pending
MLS 24435575
Type Residential Income
Lot Size 16,117
Structure Size 7,088
DOM 42
Courtesy Of Keller Williams Realty Santa Barbara
Listing Agent Stephen Epstein DRE#00994429

Interior Features

Laundry Information
Location(s) Common Area
Total Bathroom
Bathrooms 22
Cooling Type
Cooling Type None

Exterior Information

Other Structures
Structures Shed(s)

Maps

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 Oct 22nd, 2024 at 11:01 PM 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.