2131 Modoc Road, Santa Barbara, CA 93101

$1,995,000
1,135
SqFt
List Price
$1,995,000
Status
ACTIVE
MLS#
24-2237
Living Area
1,135
Lot Size
8,276
Region
SB/WEST OF STATE
Year Built
1948

Property Description

This versatile and extensively renovated multi-family property features a 3-bed, 2-bathroom modern cottage with an expansive, permitted 2-bedroom ADU in the backyard. The grounds create a tropical oasis with a sparkling pool, surrounded by low-maintenance synthetic grass, lush tropical plants, palm trees, & enticing outdoor amenities like a firepit, outdoor kitchen, & built-in entertaining deck. Positioned perfectly between downtown Santa Barbara & the beach this property captures premium rents as your tenants enjoy easy access to SBCC, parks, Cottage Hospital, top-notch shopping & dining, & a new paved bike path leading straight to Hendry's Beach. Established, easy-to-work-with tenant pays $120k/year. Don't miss this opportunity for a turnkey investment opportunity in a premium location!

Additional Information

Elementary School
Harding
Middle School
LaCumbre
High School
S.B. Sr.
Acres
0.19
Annual Income
120000
Capitalization Rate
4
Condition
Excellent
Foundation
Mixed
Gross Rent Multiplier
16.6
Laundry
In Unit
Living Area
1,135
Lot Size
8,276
Neighborhood
or 20 - Downtown
Parking Garage
Unc #4, Converted
Region
SB/WEST OF STATE
Total Monthly Income
$10,000
Units
2
Zoning
R-1

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of eXp Realty of California, Inc..