15 W Islay Street, SANTA BARBARA, CA 93101 (MLS# 25-3289)

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15 W Islay Street, SANTA BARBARA, CA 93101

$2,210,000

Property Type: Res Inc Square Footage: 3,453 Lot Size (sq. ft.): 7,405 Status: Closed

Current Price: $2,210,000 List Date: 9/02/2025 Last Modified: 10/31/2025

Overview

Description

Opportunity to Own a Prime SB Multi-Family Asset w/ Major Upgrades & Future Value-Add Potential. 15 W. Islay St. features a 1920s duplex w/ (2) 1BD/1BA units & a 1963 triplex w/ (1) 2BD/1BA + (2) 1BD/1BA units, w/ upstairs tenants enjoying a shared balcony. Ideally located between Downtown & Upper State, residents benefit from easy freeway access & nearby shopping, dining & entertainment. Substantial recent upgrades provide a well-maintained asset in a strong rental market. Added value exists through rental upside & the City's ADU program. Current ownership has submitted plans to convert the carport into a Jr. ADU, plus potential for 2 detached ADUs at the rear.

Listing Details MLS# 25-3289

Location Info

District: 20 - SB/WEST OF STATE
Street #: 15
Dir: W
Street Name: Islay
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 027-101-006
Cross Street: State Street

Contract Info

Price: 2295000
Begin Date: 2025-09-02

Status Information

Sold Date: 2025-10-31
Under Contract Date: 2025-09-12

Property Information

Number of Units: 5
Year Built: 1920
Main House SqFt: 3453
Apx Lot SqFt: 7405
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: 4
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 8805
Monthly Total: 8805
# Half Baths: 0

Unit 2

# Units: Yes
# Bedrooms: 2
# Baths: Yes
Monthly Total: 2960

Neighborhood/Schools

Elementary School: Peabody
Junior High School: S.B. Jr.
High School: S.B. Sr.

Proximity

Near Bus: Yes
Near Hospital: Yes
Near Ocean: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Income/Expenses

Total Monthly Income: 11765
Annual Income: 141180
NOI: 77345

Zoning

Other: Yes

Reports Available

Prelim: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Parking Info

Carport: Yes
Outside: Yes

Pub Listing Details

None: Yes

Property Features

Parking Info: Carport; Carport; Outside Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping Zoning: Other Reports Available: Prelim Terms: Cash; Conventional Listing Type: ER Pub Listing Details: None

Listing Office: Radius Group Commercial R.E.

Last Updated: October - 31 - 2025

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