640 Ortega St, Santa Barbara, CA 93101
4 Unit Apartment Building | $2,995,000 ($748,750/Unit) | 4.10% Cap Rate | Santa Barbara, CA 93101
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,995,000
- Property Type
-
Multifamily
- Square Feet
- 3,480 SF
Listing Contacts
Heather Martineau
Verified Profile
- Property Info
Property Overview
Welcome to 640 & 644 W Ortega, Santa Barbara, CA! This fantastic property has never been on the market before and has been owned by the same family for over 45 years. This property offers two duplex buildings, providing a total of four units. Each unit features a comfortable layout with two bedrooms and one bathroom, making them ideal for both residents and potential tenants. Situated on a generous 1.55-acre lot, this property offers ample space and a serene environment with breathtaking mountain views. The expansive land provides opportunities for various uses and potentially expanding the existing building or potentially adding an ADU. The duplex buildings are well-maintained and offer a great investment opportunity. Whether you're looking to generate rental income or occupy one of the units while renting out the others, this property provides versatility and potential for a favorable return on investment.
Property Details
- Class
- C
- Year Built
- 1979
- Stories
- 1
- Lot Size (sq. ft)
- 67,518 SF
- Units
- 4
Highlights
- 2 duplexes on a buildable lot of 1.55 acres.
- The ocean is about a mile away.
- Close to the city college.
- Very private location up a long driveway.
- Each unit has a private patio with mountain views.
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