330 E Figueroa St | Santa Barbara, CA 93101
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330 E Figueroa St
Santa Barbara, CA 93101
Residential Property For Sale · 5 Units
Investment Highlights
- - Value Add Opportunity/Remodel to Market Rent Potential
- - Premier Downtown Santa Barbara Location, Three Blocks from State
- - Three (3) out of Five (5) Units will be Vacant at Close of Escrow
- - Lowest Price Per Unit Multifamily Property (5+ Units) in South Santa Barbara County
Executive Summary
Conveniently located just three blocks from State Street and near the many amenities of Downtown Santa Barbara, this value-add
multifamily opportunity has been priced to account for the work the property requires: structural work, new roof, site work, exterior and interior updates and improvements. Ideal for a contractor, developer or savvy investor to improve and remodel five rental units while mitigating the issues around tenancies. Per plans with the City, this 1920’s Craftsman-style building totals 2,750 SF and consists of a 2BD/1BA, a 1BD/1BA, and three Studios. The property provides five onsite parking spaces and common laundry for the tenants.
multifamily opportunity has been priced to account for the work the property requires: structural work, new roof, site work, exterior and interior updates and improvements. Ideal for a contractor, developer or savvy investor to improve and remodel five rental units while mitigating the issues around tenancies. Per plans with the City, this 1920’s Craftsman-style building totals 2,750 SF and consists of a 2BD/1BA, a 1BD/1BA, and three Studios. The property provides five onsite parking spaces and common laundry for the tenants.
PROPERTY FACTS
| Price Per Unit | £256,480 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 4.58% | Lot Size | 0.12 AC |
| Gross Rent Multiplier | 13.39 | Building Size | 2,880 SF |
| No. Units | 5 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 1.74/1,000 SF |
| Price Per Unit | £256,480 |
| Sale Type | Investment |
| Net Initial Yield | 4.58% |
| Gross Rent Multiplier | 13.39 |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,880 SF |
| Number of Floors | 1 |
| Year Built | 1920 |
| Parking Ratio | 1.74/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 1 | £1,940 | - |
| 1+1 | 1 | £2,004 | - |
| Studios | 3 | £1,336 | - |
PROPERTY TAXES
| Parcel Number | 029-221-007 | Improvements Assessment | £549,278 |
| Land Assessment | £604,067 | Total Assessment | £1,153,345 |
PROPERTY TAXES
Parcel Number
029-221-007
Land Assessment
£604,067
Improvements Assessment
£549,278
Total Assessment
£1,153,345
zoning
| Zoning Code | R-M (Residential Multi-Unit) |
| R-M (Residential Multi-Unit) |
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