MLS® ID: 18-3773

401 1/2 Old Coast Hwy

SANTA BARBARA, California, 93103

$1,289,000 Active
  • - SQFT
This well maintained 3 unit SB apartment building, at 14.4 x current rents and a 4.76% CAP, offers the best return available for small income property in city of SB! Mixed use zoning allows for flexibility of use. Set on flag lot, consists of 1BD/1BA standalone unit w/ private patio plus duplex w/ 3BD/2BA & 3BD/1BA units. Largest unit totally rebuilt in 2012 & has AC, dual pane windows, enclosed yard. Front house has fireplace. Owner put over $50k into 1 BD unit. 6 parking spots, onsite laundry and sep elect, gas meters. Near zero % vacancy rate afforded by benefit of designation as project based voucher property thru affordable housing agency. Buyer has option to continue w/ program or convert 1 unit to commercial & rent out other 2 as residential use w/ or w/o affordable housing tenants.
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Listing courtesy of Beachside Partners

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    93103
  • Office name
    Beachside Partners
  • Elementary school
    Other
  • Junior high
    S.B. Jr.
  • High school
    S.B. Sr.
  • Year built
    1957
  • Agent name
    Nick Henry
  • Purchase Type
    Active
  • Price Range
    $1.25m-$1.5m
  • Year Built Range
    1989 (and earlier)
  • Office ID
    199502306
  • Agent ID
    199504560

Location

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