403 E Anapamu Street, SANTA BARBARA, CA 93101 (MLS# 25-2958)

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403 E Anapamu Street, SANTA BARBARA, CA 93101

$3,344,788

First time on the market in over 25 years, this rare legacy offering is located in one of Santa Barbara’s most sought-after neighborhoods.

The five-unit, mid-century courtyard complex sits on a prominent corner lot at Anapamu and Laguna Streets.

The ~6,234 SF complex includes four 2BD/1BA units, one oversized 2BD/3BA unit + ample off-street parking.

Most interiors have been tastefully remodeled with updated kitchens, baths, and flooring.

Most units enjoy views of the mountains.

Boasting over 1,800SF, this unit is perfect for an owner/user.

Spacious with natural light and new flooring.

Thoughtful garden-style layout with a central covered breezeway.

Eight off-street parking spaces: five covered (carport) and three uncovered.

Off-street covered parking with storage and laundry room.

Located on a 9,148 SF corner lot with R-3 zoning and high-density residential land use designation.

Excellent location near SB Courthouse, Alice Keck Park, SB High School, and downtown amenities.

Strong in-place income with upside in rents and long-term redevelopment potential.

Property Type: Res Inc Square Footage: 6,264 Lot Size (sq. ft.): 9,148 Status: Closed

Current Price: $3,344,788 List Date: 8/05/2025 Last Modified: 9/11/2025

Overview

Description

First time on the market in over 25 years, this legacy five-unit apartment building in the heart of Santa Barbara offers a rare blend of location, scale, and future upside. Situated on a 9,148 SF R-3 lot, the ~6,264 SF mid-century courtyard complex offers a desirable unit mix, including four 2BD/1BA units (~1,085 SF) and one oversized 2BD/3BA unit (~1,824 SF). Most interiors have been tastefully remodeled with updated kitchens, baths, and flooring. Amenities include covered off-street parking, shared laundry, mature landscaping, and mountain views from select units. Located near the SB Courthouse, Alice Keck Park, and SB High School, this well-maintained property presents an exceptional opportunity for investors seeking stable income, rental upside, and long-term redevelopment potential.

Listing Details MLS# 25-2958

Location Info

District: 15 - SB/EAST OF STATE
Street #: 403
Dir: E
Street Name: Anapamu
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 029-133-019
Cross Street: Laguna St
Walk Score: 81

Contract Info

Price: 3500000
Financing: Exchange
Seller Consider Concessions: Yes
Begin Date: 2025-08-05

Status Information

Sold Date: 2025-09-10
Under Contract Date: 2025-08-13

Property Information

Number of Units: 5
Stories: 2
Year Built: 1964
Main House SqFt: 6264
Other Structures SqFt: 150
Apx # Acres: 0.21
Apx Lot SqFt: 9148
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 15 - Upper Eastside

Remarks

Hot Sheet Comment: new

More Information

Owner Info

Deposit: 3

Miscellaneous

Parking Spaces: 8
# Refrigerators: 5

Unit 1

# Units: 4
# Bedrooms: 2
# Baths: Yes
Furnished: N
Rent: 2762.5
Monthly Total: 11050
# Half Baths: 0
Lease: Yes

Unit 2

# Units: Yes
# Bedrooms: 2
# Baths: 3
Monthly Total: 4500

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y

Parking Info

Total # Carport Spaces: 5
Total # Unconvered Spaces: 3
Carport: Yes
Mixed: Yes
Cpt #5: Yes
Outside: Yes
Unc #3: Yes
Detached: Yes

Neighborhood/Schools

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

Condition

Excellent: Yes

Foundation

Slab: Yes

Proximity

Near Bus: Yes
Near School(s): Yes

Laundry

Laundry Room: Yes

Amenities

Ovens/Bltin: Yes
Dishwasher: Yes
Washer: Yes
Dryer: Yes
Refrigerator: Yes

Income/Expenses

Total Monthly Income: 15750
Annual Income: 186165
Gross Rent Multiplr: 18.52
Capitalization Rate: 3.29
Total Monthly Exp: 6165.78
NOI: 115,010.63

Zoning

R-3: Yes

Reports Available

Pest Inspection: Yes
Prelim: Yes
Appraisal: Yes
NHD: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Flr/Wdw Coverings

Carpet: Yes
Stone: Yes

Pub Listing Details

None: Yes

Contingent Remarks

HOME INSPECTN: Yes

Owner Provides

Water: Yes
Trash: Yes

Property Features

Unit 1: Lease Condition: Excellent Foundation: Slab Parking Info: Carport; Mixed; Carport; Cpt #5; Outside; Unc #3; Detached Proximity: Near Bus; Near School(s) Laundry: Laundry Room Amenities: Ovens/Bltin; Dishwasher; Washer; Dryer; Refrigerator Owner Provides: Water; Trash Zoning: R-3 Reports Available: Pest Inspection; Prelim; Appraisal; NHD Terms: Cash; Conventional Listing Type: ER Pub Listing Details: None Contingent Remarks: HOME INSPECTN

Documents

Preliminary Title ›

NHD report ›

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: September - 11 - 2025

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