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1415-1417 Park Place, SANTA BARBARA, CA 93103

New Listing
$2,650,000
Property Type: Res Inc Lot Size (sq. ft.): 10,454 Status: Active
Current Price: $2,650,000 List Date: 10/08/2026 Last Modified: 10/08/2026

Overview

Description

1415+1417 Park Place is a competitively-priced and well cared-for 6-unit 2-building multi-family investment, located at the edge of Santa Barbara as it transitions to Montecito via Old Coast Highway. The configuration of the 2 buildings is especially well-suited for an owner-occupant in the recently-vacated 2-unit Victorian home with 12-foot ceilings, with mortgage/expenses paid from ~$10K monthly rent from the 1980-built 4 x 1-BR building separated across the driveway. Or re-rent the 2 vacant units in the home to revive the total income to the recent ~$17,200/month (~$206K annual). The sellers have made approx. $350K of upgrades in the last 3 years, incl. mostly all new roofs. See unbranded Offering Memorandum in Documents for more details. Don't miss this value opportunity!

Listing Details MLS# 26-3402

Location Info

District
15 - SB/EAST OF STATE
Street #
1415-1417
Street Name
Park
Street Suffix
Place
State
CA
Country
US
Postal Code
93103
Compass Map
Santa Barbara
Map Grid
Q12
County
Santa Barbara
Parcel Number
017-373-018
Cross Street
Old Coast Hwy

Contract Info

Price
2650000
Begin Date
2026-10-07

Property Information

Number of Units
6
Units Furnished
None
Year Built
1980
Apx # Acres
0.24
Apx Lot SqFt
10454
Recurring Fees
No

Remarks

Hot Sheet Comment
new

Owner Info

Deposit
3
Deposit Type
%
COE
ASAP

Miscellaneous

Parking Spaces
9
# Refrigerators
6
# Stoves
6

More Information

Unit 1

# Units
2
# Bedrooms
2
# Baths
Yes
Rent
3775
Monthly Total
7550
# Half Baths
0

Unit 2

# Units
4
# Bedrooms
Yes
# Baths
Yes
Rent
2497
Monthly Total
9988
# Half Baths
0

Meters

Sep Meter Wtr
N
Sep Meter Elec
Y
Sep Meter Gas
Yes

Parking Info

Total # Carport Spaces
2
Total # Unconvered Spaces
7
Carport
Yes
Outside
Yes

Neighborhood/Schools

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

Condition

Excellent
Yes

Foundation

Slab
Yes
Raised
Yes

Proximity

Near Bus
Yes
Near Golf Course
Yes
Near Grocery
Yes
Near Ocean
Yes
Near Park(s)
Yes
Near Shopping
Yes
Near Tennis/Pickleball
Yes

Laundry

Laundry Room
Yes

Income/Expenses

Total Monthly Income
17538
Annual Income
210456
Gross Rent Multiplr
12.59
Capitalization Rate
5.05
Actual
Yes
Vac Factor
4209
Taxes
28138
Insurance
11008
Water Expense
10087
Electric Expense
0
Gas Expense
1416
Trash Expense
1895
Maintenance Expense
5115
Total Monthly Exp
6378
Total Annual Exp
76537
NOI
133919

Heating

Forced Air
Yes

Zoning

R-4
Yes
Other
Yes

Reports Available

Home Inspection
Yes
Pest Inspection
Yes
Roof
Yes
Other
Yes

Terms

Cash
Yes
Conventional
Yes

Listing Type

ER
Yes

Property Features

Condition: Excellent Foundation: Slab; Raised Parking Info: Carport; Carport; Outside Proximity: Near Bus; Near Golf Course; Near Grocery; Near Ocean; Near Park(s); Near Shopping; Near Tennis/Pickleball Laundry: Laundry Room Heating: Forced Air Zoning: R-4; Other Reports Available: Home Inspection; Pest Inspection; Roof; Other Terms: Cash; Conventional Listing Type: ER
IDX
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: October - 08 - 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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