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
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
More Information MLS# 25-3043
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: O13
Cross Street: Carrillo
District: 20 - SB/WEST OF STATE
Street #: 1021
Street Name: San Andres
Street Suffix: Street
State: CA
Postal Code: 93101
County: Santa Barbara
Parcel Number: 039-242-010
Contract Info
Financing: CTNL
Current Price: $2,295,000
Price: 2395000
Begin Date: 2025-08-11
Status: Closed
Property Information
Year Built: 1974
Stories: 2
Apx Lot SqFt: 8712
Apx # Acres: 0.2
Apx Lot Size FxD: 175' x 50'
Main House SqFt: 4468
Recurring Fees: No
Number of Units: 5
Neighborhood/Schools
Elementary School: McKinley
Junior High School: S.B. Jr.
High School: S.B. Sr.
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Condition
Excellent: 1
Good: 1
Foundation
Slab: 1
Miscellaneous
Parking Spaces: 8
# Refrigerators: 5
# Stoves: 5
Proximity
Near Bus: 1
Near School(s): 1
Near Shopping: 1
Laundry
Laundry Room: 1
Unit 1
# Units: 1
# Bedrooms: 3
# Baths: 2
# Half Baths: 0
Furnished: N
Rent: 4450
M/M: 1
Monthly Total: 4450
Income/Expenses
Total Monthly Income: 15080
Other Income: 150
Annual Income: 181740
Gross Rent Multiplr: 13.1
Capitalization Rate: 4.40
Actual: 1
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: 1
GFA: 1
Unit 2
# Units: 2
# Bedrooms: 2
# Baths: 2
# Half Baths: 0
Rent: 3203
M/M: 1
Monthly Total: 6405
Zoning
R-2: 1
Reports Available
Home Inspection: 1
Pest Inspection: 1
Prelim: 1
Roof: 1
NHD: 1
Other: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Unit 3
# Units: 2
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Rent: 2112
M/M: 1
Lease: 1
Monthly Total: 4225
Meters
Sep Meter Elec: Y
Sep Meter Gas: Yes
Parking Info
Carport: 1
Cpt #6: 1
Outside: 1
Unc #2: 1
Total # Carport Spaces: 6
Total # Unconvered Spaces: 2
Flr/Wdw Coverings
Carpet: 1
Vinyl: 1
Owner Provides
Water: 1
Trash: 1
Exchange
Yes: 1
Status Information
Sold Date: 2025-10-20
Sold Price: $2,295,000
Under Contract Date: 2025-08-20
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
Documents
Offering Memorandum (unbranded) ›
Listing Office:
Berkshire Hathaway HomeServices California Properties
Last Updated: October - 22 - 2025
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