323 W Islay Street, SANTA BARBARA, CA 93101
$2,500,000
Property Type:
Res Inc
Square Footage:
3,360
Lot Size (sq. ft.):
6,534
Status:
Active
Current Price:
$2,500,000
List Date:
4/29/2024
Last Modified:
5/15/2024
Description
Recently updated 5-unit apartment building located in Downtown Santa Barbara. Owned by the same family for nearly 50 years, this property exudes pride of ownership. Offering a beautiful 3-bedroom, 2-bathroom unit (great owners' unit) as well as four 1-bedroom, 1-bathroom units totaling 3,360 sq. ft., Casa Napoli offers versatile living spaces to suit a variety of lifestyles.
Tenant amenities include both covered and uncovered parking for residents, as well as a convenient coin-operated community laundry room. A low maintenance asset with recent upgrades to the property including a brand-new roof over both the building and carport, ABS plastic sewer line, modernized plumbing and electrical systems, dual pane windows, and extensive interior renovations throughout all units.
Supplements: Current rents are under market and total $147,000 annually. Total market rents are projected to be $190,800 annually. Upon request, the offering memorandum, title report, natural hazards disclosure, reports/inspections and seller disclosures can be provided. Showings will be May 15th and 22nd by appointment only. Do not disturb occupants.
More Information MLS# 24-1341
Location Info
District: 20 - SB/WEST OF STATE
Street #: 323
Dir: W
Street Name: Islay
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 027-082-027
Cross Street: Bath Street
Contract Info
Current Price: $2,500,000
Price: 2500000
Buyers Agent $/%: 2.5
Begin Date: 2024-04-29
Status: Active
Property Information
Number of Units: 5
Year Built: 1962
Main House SqFt: 3360
Apx # Acres: 0.15
Apx Lot SqFt: 6534
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 15 or 20 - Downtown
Elementary School: Peabody
Junior High School: S.B. Jr.
High School: S.B. Sr.
Remarks
Hot Sheet Comment: price
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 6
# Refrigerators: 5
# Stoves: 5
Unit 1
# Units: 1
# Bedrooms: 3
# Baths: 2
Furnished: N
Rent: 3250
Monthly Total: 3275
Unit 2
# Units: 4
# Bedrooms: 4
# Baths: 4
Monthly Total: 8975
Income/Expenses
Total Monthly Income: 12250
Other Income: 1200
Annual Income: 148200
Capitalization Rate: 4.22
Meters
Sep Meter Elec: Y
Sep Meter Gas: Yes
Property Features
Condition: Excellent
Foundation: Slab
Parking Info: Cpt #4; Unc #2
Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near Shopping
Laundry: Laundry Room
Amenities: Deck; Fireplace; Gas Stove; Elec Stove; Ovens/Bltin; Microwave; Washer; Dryer; Refrigerator; Insul T/O; Cable TV; Fncd All
Flr/Wdw Coverings: Carpet; Wood/Laminate; Tile
Security: Smoke Detector(s)
Heating/Cooling: GFA; Wall
Owner Provides: None
Zoning: R-4; Other
Reports Available: TDS; Home Inspection; Pest Inspection; Prelim; NHD
Terms: Cash; Ctnl
Listing Type: ER
Floor Plans ›Listing Office: Keller Williams Realty Santa Barbara
Last Updated: May - 15 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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.
