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401 Old Coast Highway, Santa Barbara, CA 93103

7 Bed, 4 Bath Multi-Family Home For Sale

401 Old Coast Highway, Santa Barbara, CA 93103 House For Sale - MLS #218013158
$1,289,000
7
4
Multi-Family
3 Family
This listing is courtesy of Nicholas Henry from Beachside Partners.

Property Description for 401 Old Coast Highway, Santa Barbara, CA 93103

This well maintained 3 unit Santa Barbara apartment building, at 14.4 x current rents and a 4.76% CAP, offers one of best returns available for a small income property. Mixed use zoning allows for flexibility of use. Set on flag lot, consists of 1BD/1BA standalone unit w/ private patio plus duplex w/ 3BD/2BA & 3BD/1BA units. Largest unit totally rebuilt in 2012 & has AC, dual pane windows, enclosed yard. Front house has fireplace. Owner put over $50k into 1 BD unit. 6 parking spots, onsite laundry and sep elect, gas meters. Near zero % vacancy rate afforded by benefit of designation as project based voucher property thru affordable housing agency. Buyer has option to continue w/ program or convert 1 unit to commercial & rent out other 2 as residential use w/ or w/o affordable housing tenants. Location Info

Interior Details

2,192 sq. ft.
$588.05/sq. ft.

Exterior Details

0.17 acres
7,405 sq. ft.

Other Details

218013158
1957
3

Units Description

Unit #1
Bedrooms: 3      Full / Half Baths: 2     

Unit #2
Bedrooms: 3      Full / Half Baths: 1     

Unit #3
Bedrooms: 1      Full / Half Baths: 1     

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Town Description

Santa Barbara is a city in Santa Barbara County, California, United States. Situated on an east-west trending section of coastline, the longest such section on the West Coast of the United States, the...

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