Downtown

PRICE REDUCTION!! 

In 7 years, 0% vacancy!!  Super low maintence property with one year leases.  Two Wonderfully located Triplex properties in the prestigious downtown corridor.  All units completly remodeled with not only beauty but also minimal maintence.  For example all units are tiled eliminating future carpet replacement.  These two triplexs have been extremely popular with the local collage students from Brooks Institute of Photography, SBCC and UCSB.  Literaly not one day vacant since present ownership.   Owner is relocating out of the country.  Property is in exellent condition and owner has always maintained it as so.

Triplex finanancing is much easier then 4 units and over...

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.

Current Monthly Rents are:
      Unit 1, 3 Bedroom 1.5 Bath: $2,225.00
      Unit 2, 3 Bedroom 1.5 Bath: $2,225.00
      Unit 3, 3 Bedroom 1.5 Bath: $2,100.00
      Unit 4, 3 Bedroom 1.5 Bath: $2,150.00
      Unit 5, 3 Bedroom 1.5 Bath: $2,200.00
      Unit 6, 3 Bedroom 1.5 Bath: $2,225.00
Total Monthly Income: $13,125.00

Tenant pays all utilities.

Offered at $2,184,000 this is a GRM of Only 13.86. **  Most importantly you could get bank loans based on the rates of triplexes versus an apartment building loan.  Owner financing also available with 30% down and owner to carry the balance at 7% fixed interest for 10 years, interest only or owner will carry a 2nd of 20% at 7% fixed interest for 15 years, interest only on approved credit. For a Property Profile, please click the 'More Info' button above.

All Showings are subject to an accepted offer.  Feel free to drive by, but please do not disturb occupants.