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This Alluring and charming 9 unit cottage style property is in an excellent downtown location within walking distance to shopping and restaurants and State Street, makes this a prime investment or owner occupied property. Live in the private rear unit and let the rental income from the remaining units pay your loan!
Many of these units have been extensively remodeled. The lush landscaping completes this popular property as you walk down the palm tree lined pathway to the private courtyard in the rear, and pass under the antique dugout canoe archway.
This property rents quickly and once you look at the pictures you will understand why.
Estimated Pro-forma monthly rent is $13,175.00, this is only 11.70 GRM!!
Current rents are $10,050.00 per month but one unit is used as the owners personal apartment and does not reflect in current rent.
Current Rent Roll is:
Unit A: $975.00
Unit B: $1,250.00
Unit C: $1,300.00
Unit D: $825.00
Unit E: $1,100.00
Unit F: $2,100.00
Unit G: $1,200.00
Unit H: Owners unit
Unit I: $1,300.00
To view this unique property please contact Robert Larson with St. George and Associates at 805-680-4049.
Santa Barbara is considered by many to be the American Rivera. With an average temperature in the 70’s year round, it is a popular tourist destination and home to many of the worlds rich and famous. Santa Barbara’s strict architectural guidelines have help preserve the beauty and small town Spanish feeling. All while boasting 100’s of unique restaurants, Art, History and Science Museums, 3 world class Colleges, state of the art hospitals and miles and miles of scenic beaches and mountain trails. Santa Barbara is also only a beautiful 40 minute drive to the Santa Ynez Valley wine country. Needless to say, demand for housing in Santa Barbara will always be high.
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