805.689.0532
Real Estate Company
1415+1417 Park Place is a competitively-priced and well cared-for 6-unit 2-building multi-family investment, located at the edge of Santa Barbara as it transitions to Montecito via Old Coast Highway. The configuration of the 2 buildings is especially well-suited for an owner-occupant in the recently-vacated 2-unit Victorian home with 12-foot ceilings, with mortgage/expenses paid from ~$10K monthly rent from the 1980-built 4 x 1-BR building separated across the driveway. Or re-rent the 2 vacant units in the home to revive the total income to the recent ~$17,200/month (~$206K annual). The sellers have made approx. $350K of upgrades in the last 3 years, incl. mostly all new roofs. See unbranded Offering Memorandum in Documents for more details. Don't miss this value opportunity!
Listing courtesy of Berkshire Hathaway HomeServices California Properties.
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