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111 Chapala Street, SANTA BARBARA, CA 93101

$10,500,000
Property Type: Res Inc Square Footage: 11,675 Lot Size (sq. ft.): 18,730 Status: Active
Current Price: $10,500,000 List Date: 9/17/2025 Last Modified: 4/23/2026

Overview

Description

Recognized as one of Santa Barbara's most iconic and cherished apartment properties, La Casa Rosalia is for sale for the 1st time in nearly 40 years. In a premium West Beach location 1.5 blocks to the waterfront and 1 block to State Street, the property is a crowning example of local Spanish Colonial architecture at its peak era, designed in 1930 by E. Keith Lockard. Today the 17 total units in 3 buildings are ready for the generational investor to claim a trophy property with an unmatched long-term upside potential, plus possible Mills Act tax benefits and R-4/Coastal zoning. The 11,675+/-SF measured gross living area = ~$900/SF, perhaps half of the market value for the area of a future renovated complex. Unbranded OM available in Documents. Don't miss a true one-of-a-kind opportunity!

Listing Details MLS# 25-3487

Location Info

District
20 - SB/WEST OF STATE
Street #
111
Street Name
Chapala
Street Suffix
Street
State
CA
Country
US
Postal Code
93101
Compass Map
Santa Barbara
Map Grid
P13
County
Santa Barbara
Parcel Number
033-073-001
Cross Street
Natoma

Contract Info

Price
10500000
Begin Date
2025-09-17

Property Information

Number of Units
17
Stories
2
Year Built
1930
Main House SqFt
11675
Apx # Acres
0.43
Apx Lot SqFt
18730
Recurring Fees
No

NeighborhoodSchools

Neighborhood
20 - West Beach

Remarks

Hot Sheet Comment
price

Owner Info

Deposit
3

More Information

Miscellaneous

Parking Spaces
17
# Refrigerators
17
# Stoves
16

Unit 1

# Units
Yes
# Bedrooms
2
# Baths
Yes
# Half Baths
Yes
Furnished
N
Rent
3608
Monthly Total
3608
M/M
Yes

Unit 2

# Units
11
# Bedrooms
Yes
Rent
2646
Monthly Total
29110
M/M
Yes

Unit 3

# Units
5
Rent
1986
Monthly Total
9931
# Bedrooms
0
M/M
Yes

Meters

Sep Meter Wtr
N
Sep Meter Elec
N
Sep Meter Gas
No

Parking Info

Total # Carport Spaces
6
Total # Unconvered Spaces
11
Carport
Yes
Outside
Yes

Neighborhood/Schools

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

Condition

Average
Yes

Foundation

Slab
Yes
Raised
Yes

Proximity

Near Bus
Yes
Near Ocean
Yes
Near Park(s)
Yes
Near Shopping
Yes

Laundry

Laundry Room
Yes

Income/Expenses

Total Monthly Income
42649
Other Income
147
Annual Income
513549
Gross Rent Multiplr
20.46
Capitalization Rate
2.27
Actual
Yes
Vac Factor
2%
Taxes
111049
Insurance
12714
Licenses
996
Water Expense
28553
Electric Expense
18447
Gas Expense
3218
Maintenance Expense
65074
Total Monthly Exp
22101
Total Annual Exp
265215
NOI
238064

Heating

Wall
Yes

Zoning

R-4
Yes

Reports Available

Home Inspection
Yes
Pest Inspection
Yes
Other
Yes

Terms

Cash
Yes
Conventional
Yes

Listing Type

ER
Yes

Flr/Wdw Coverings

Carpet
Yes
Hardwood
Yes
Vinyl Plank
Yes

Property Features

Unit 1: M/M Unit 2: M/M Unit 3: M/M Condition: Average Foundation: Slab; Raised Parking Info: Carport; Carport; Outside Proximity: Near Bus; Near Ocean; Near Park(s); Near Shopping Laundry: Laundry Room Heating: Wall Zoning: R-4 Reports Available: Home Inspection; Pest Inspection; Other Terms: Cash; Conventional Listing Type: ER
IDX
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: April - 23 - 2026
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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