Listing ID22-1225
Total Baths4
Full Baths4
Acres 0.430
CountySanta Barbara
Year Built1925
Property TypeResidential
Property Sub TypeHome/Estate
Exceptional trophy investment of three newly remodeled cottages. Rarely do you find a turn-key investment with large upside potential, like this one. Perfect for owner/user or a 1031 buyer looking for an add value play. Big upside being the plans pending to build an additional 2 cottages(ADU's) which would easily increase the monthly income $8,000 per month. Renderings available upon request. All three cottages have been remodeled extensively with current rents grossing $10,000 per month. The front cottage(907 SF) has 2 bedrooms, 2 bathrooms with a fenced in front yard at $3,250 per month(market rent $4,000). The tastefully updated back two cottages(941 SF each) have mirrored floor plans with 2 bedrooms and 1 bathroom. They are both leased for $3,400(market rent $3,900) with their own single car garage, no shared walls and both have large private back yards. This unique investment boasts a tranquil setting along Sycamore Creek and a community garden in the rear. Surely not one to be missed with close access to the 101 freeway and East Beach.
Listing courtesy of Omega Real Estate and Investments
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Ron Dickman

Santa Barbara, CA 93105
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