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1021 San Andres Street, SANTA BARBARA, CA 93101

$2,295,000
Property Type: Res Inc Square Footage: 4,468 Lot Size (sq. ft.): 8,712 Status: Closed
Current Price: $2,295,000 List Date: 8/12/2025 Last Modified: 10/22/2025

Overview

Description

Fantastic cash-flow opportunity at an accessible price point for 5 units in a central Santa Barbara location, a few blocks to downtown and a mile to the beach and Santa Barbara City College. The building orients vertically back from the street for tenant privacy and quiet, and features a good unit mix of 1x3-BR/2-BA, 2x2-BR/2-BA and 2x1-BR/BA. 3 of the 5 units have been nicely updated in the last 2 years, and the property has seen local pride-of-ownership by the same family for nearly 50 years. The current GRM is ~13.1 and if allowed increases on Jan. 1st go into effect, it would drop to ~12.3. Don't miss this chance to get in on the ground floor of Santa Barbara multi-family investing, or complete a 1031 exchange without compromising rate of return! Full Offering Memorandum in Documents

Listing Details MLS# 25-3043

Location Info

District
20 - SB/WEST OF STATE
Street #
1021
Street Name
San Andres
Street Suffix
Street
State
CA
Country
US
Postal Code
93101
Compass Map
Santa Barbara
Map Grid
O13
County
Santa Barbara
Parcel Number
039-242-010
Cross Street
Carrillo

Contract Info

Price
2395000
Financing
CTNL
Begin Date
2025-08-11

Status Information

Sold Date
2025-10-20
Under Contract Date
2025-08-20

Property Information

Number of Units
5
Stories
2
Year Built
1974
Main House SqFt
4468
Apx Lot Size FxD
175' x 50'
Apx # Acres
0.2
Apx Lot SqFt
8712
Recurring Fees
No

Remarks

Hot Sheet Comment
new

Owner Info

Deposit
3

More Information

Miscellaneous

Parking Spaces
8
# Refrigerators
5
# Stoves
5

Unit 1

# Units
Yes
# Bedrooms
3
# Baths
2
Furnished
N
Rent
4450
Monthly Total
4450
# Half Baths
0
M/M
Yes

Unit 2

# Units
2
# Bedrooms
2
# Baths
2
Rent
3203
Monthly Total
6405
# Half Baths
0
M/M
Yes

Unit 3

# Units
2
# Bedrooms
Yes
# Baths
Yes
Rent
2112
Monthly Total
4225
# Half Baths
0
M/M
Yes
Lease
Yes

Meters

Sep Meter Elec
Y
Sep Meter Gas
Yes

Parking Info

Total # Carport Spaces
6
Total # Unconvered Spaces
2
Carport
Yes
Cpt #6
Yes
Outside
Yes
Unc #2
Yes

Neighborhood/Schools

Elementary School
McKinley
Junior High School
S.B. Jr.
High School
S.B. Sr.

Condition

Excellent
Yes
Good
Yes

Foundation

Slab
Yes

Proximity

Near Bus
Yes
Near School(s)
Yes
Near Shopping
Yes

Laundry

Laundry Room
Yes

Income/Expenses

Total Monthly Income
15080
Other Income
150
Annual Income
181740
Gross Rent Multiplr
13.1
Capitalization Rate
4.40
Actual
Yes
Taxes
25603
Insurance
13557
Water Expense
7616
Electric Expense
678
Gas Expense
2571
Trash Expense
3780
Maintenance Expense
8112
Total Monthly Exp
6447
Total Annual Exp
77361
NOI
105399

Heating

Wall
Yes
GFA
Yes

Zoning

R-2
Yes

Reports Available

Home Inspection
Yes
Pest Inspection
Yes
Prelim
Yes
Roof
Yes
NHD
Yes
Other
Yes

Terms

Cash
Yes
Conventional
Yes

Listing Type

ER
Yes

Flr/Wdw Coverings

Carpet
Yes
Vinyl Plank
Yes

Owner Provides

Water
Yes
Trash
Yes

Exchange

Yes
Yes

Property Features

Unit 1: M/M Unit 2: M/M Unit 3: M/M; Lease Condition: Excellent; Good Foundation: Slab Parking Info: Carport; Carport; Cpt #6; Outside; Unc #2 Proximity: Near Bus; Near School(s); Near Shopping Laundry: Laundry Room Heating: GFA; Wall Owner Provides: Water; Trash Zoning: R-2 Reports Available: Home Inspection; Pest Inspection; Prelim; Roof; NHD; Other Exchange: Yes Terms: Cash; Conventional Listing Type: ER
IDX
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: October - 22 - 2025
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.

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