1514-1520 Garden Street, Santa Barbara, CA 93101

$7,600,000
List Price
$7,600,000
Status
PENDING
MLS#
24-405
Region
SB/EAST OF STATE
Year Built
1859

Property Description

11 UNITS ON 2 PARCELS WITH 5.21% CAP RATE - Tucked away in the picturesque heart of downtown Santa Barbara, 1514/1520 Garden St. presents a rare and highly coveted investment opportunity. Units consist of (1) 7 bed/5.5 bath house, (1) 3 bed/3 bath ADU, (2) 2 bed/2 bath ADUs, (6) 1 bed/1bath units and (1) studio. Both original structures have been designated as a Structure of Merit by the Historic Landmarks Commission, however, each unique unit has been extensively remodeled with high-quality finishes and new appliances. The exterior of the property is equipped with new 40-year roofs and solar panels, ensuring hassle-free maintenance for years to come. Tenants enjoy the ease of off-street parking and washer/dryers in each unit.

Additional Information

Elementary School
Roosevelt
Middle School
S.B. Jr.
High School
S.B. Sr.
Annual Income
558000
Capitalization Rate
5.21
Condition
Excellent
Gross Rent Multiplier
13.62
Region
SB/EAST OF STATE
Total Monthly Income
$46,500
Units
11
Zoning
Other

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 Radius Group Commercial R.E..