2016 Bath St, Santa Barbara, CA 93105
8 Unit Apartment Building | $3,650,000 ($456,250/Unit) | 4.45% Cap Rate | Santa Barbara, CA 93105
Asking Price $3,650,000
- Property Type
-
Multifamily
- Square Feet
- 6,106 SF
Listing Contacts
- Property Info
Property Overview
Owned and loved by the same owner for over 4 decades. Conveniently nestled near Mission Street, Cottage Hospital and Downtown, 2016-2018 Bath Street presents a hidden gem in Santa Barbara. This compound-style property boasts 7 residential dwellings comprising a total of 8 units, offering a versatile unit mix of (4) 2-bedroom, 1-bath units and (4) 1-bedroom, 1-bath units. Units feature private patios adorned with mature trees and lush landscaping, providing a serene retreat in the heart of the city. Six garages, with leases, currently being utilized as storage, provide additional income potential. Whether for relaxation or investment, this property offers an ideal blend of convenience and tranquility, perfect for those seeking the Santa Barbara lifestyle with proximity to key amenities and attractions. 2016 Bath Street will be delivered vacant, providing for excellent investor opportunity.
Property Details
- Class
- C
- Year Built
- 1915
- Stories
- 2
- Lot Size (sq. ft)
- 30,056 SF
- Units
- 8
Highlights
- Years constructed: 2016, 2016½, 2018, & 2018½ Bath St: 1915 | 2018 Bath St., A & B: 1930 | 2016 Bath St., C & D: 1964 | Detached Garage: 1974
- Parking: 9 off-street parking spaces (garages: 6 currently rented for storage for additional income).
- Lot size: ±0.44 AC | ±19,079 SF ($191/SF)
- 7 Residential Dwellings Totaling ±6,106 SF ($598/SF)
- Cap rates: Current: 4.45% | AB1482: 4.94% | Market: 6.22%
- 2016 Bath Street will be delivered vacant, providing for excellent investor opportunity.
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