323 W Islay Street, Santa Barbara, CA 93101
- $2,500,000
- 3,360
- SqFt
- List Price
- $2,500,000
- Status
- ACTIVE
- MLS#
- 24-1341
- Price Change
- ▼ $395,000 1715370820
- Living Area
- 3,360
- Lot Size
- 6,534
- Region
- SB/WEST OF STATE
- Year Built
- 1962
Property Description
Recently updated 5-unit apartment building located in Downtown Santa Barbara. Owned by the same family for nearly 50 years, this property exudes pride of ownership. Offering a beautiful 3-bedroom, 2-bathroom unit (great owners' unit) as well as four 1-bedroom, 1-bathroom units totaling 3,360 sq. 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 extensive interior renovations throughout all units. Current rents are under market and total $147,000 annually. Total market rents are projected to be $190,800 annually. 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. Do not disturb occupants.
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Additional Information
- Elementary School
- Peabody
- Middle School
- S.B. Jr.
- High School
- S.B. Sr.
- Acres
- 0.15
- Annual Income
- 148200
- Capitalization Rate
- 4.22
- Condition
- Excellent
- Foundation
- Slab
- Laundry
- Laundry Room
- Living Area
- 3,360
- Lot Size
- 6,534
- Neighborhood
- or 20 - Downtown
- Other Income
- 1200
- Parking Garage
- Cpt #4, Unc #2
- Region
- SB/WEST OF STATE
- Total Monthly Income
- $12,250
- Units
- 5
- Zoning
- Other, R-4
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Listing courtesy of Keller Williams Realty Santa Barbara.