427 W Islay Street Santa Barbara CA 93101 MLS #24435575

427 W Islay Street
Santa Barbara, CA, 93101
$7,395,000
Beds
0 Baths
SqFt
0.37 Acres
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.

Property Details

Price:
$7,395,000
MLS #:
24435575
Status:
Active
Baths:
0
Address:
427 W Islay Street
Type:
Residential Income
Neighborhood:
vc81santabarbara
City:
Santa Barbara
Listed Date:
Sep 9, 2024
State:
CA
ZIP:
93101
Lot Size:
16,117 sqft / 0.37 acres (approx)
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JoAnn

JoAnn

Realtor®

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 …

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Schools

Interior

Appliances
Refrigerator
Cooling
None
Heating
Wall Furnace

Exterior

Parking Features
Uncovered
Parking Spots
22.00
Stories Total
2

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Map

Community

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427 W Islay Street
Santa Barbara, CA