Introducing Casa Napoli, a meticulously cared for and recently updated 5-unit apartment building nestled in the vibrant heart of Downtown Santa Barbara. Owned by the same family for nearly 50 years, this property exudes pride of ownership. Offering a spacious 3-bedroom, 2-bathroom unit as well as four 1-bedroom, 1-bathroom units totaling 3,360sq.ft., Casa Napoli offers versatile living spaces to suit a variety of lifestyles. Tenant amenities include both covered and uncovered parking for residents, as well as a convenient coin-operated community laundry room. A low maintenance asset with recent upgrades to the property including a brand-new roof over both the building and carport, ABS plastic sewer line, modernized plumbing and electrical systems, dual pane windows, and an extensive interior renovation throughout all units. A rare opportunity to own one of Santa Barbaras sought after apartment buildings! Current rents total $147,000 annually (4.22% cap). Total market rents are projected to be $190,800 annually (5.92% cap). Upon request, the offering memorandum, title report, natural hazards disclosure, reports/inspections and seller disclosures can be provided. Showings will be May 15th and 22nd by appointment only.
Property Details
Price:
$2,500,000
MLS #:
24383471
Status:
Active
Baths:
0
Address:
323 W Islay Street
Type:
Residential Income
Neighborhood:
vc81santabarbara
City:
Santa Barbara
Listed Date:
Apr 29, 2024
State:
CA
ZIP:
93101
Lot Size:
6,534 sqft / 0.15 acres (approx)
Year Built:
1962
See this Listing
Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
More About JoAnnMortgage Calculator
Schools
Interior
Appliances
Microwave, Refrigerator, Gas Range
Flooring
Carpet, Tile
Heating
Forced Air, Wall Furnace
Exterior
Parking Features
Covered, Uncovered
Parking Spots
6.00
Stories Total
2
Financial
Buyer Agent Compensation
2.500
Map
Community
- Address323 W Islay Street Santa Barbara CA
- AreaVC81 – Santa Barbara
- CitySanta Barbara
- CountySanta Barbara
- Zip Code93101
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Courtesy of Keller Williams Realty Santa Barbara. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
323 W Islay Street
Santa Barbara, CA
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