Listing ID22-1225
Price$2,879,000$50K
StatusActive
Bedrooms6
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
All information is deemed reliable, but is not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Ron Dickman shall be responsible for any typographical errors, misinformation, or misprints. © 2022 Santa Barbara Multiple Listing Service. All rights reserved.

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Ron Dickman

Santa Barbara, CA 93105
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