THE SALE OF THIS PROPERTY IS PART OF A LARGER PORTFOLIO LISTED AT $12,190,000. The Seller would prefer to sell as a portfolio, but would consider selling the properties individually. The Portfolio offering represents an excellent investment opportunity with three unique multifamily properties totaling 17 units and approx. 18,879 SF with 515 E Arrellaga being the largest of the three multifamily assets. Situated on Santa Barbara's Lower Riviera close to downtown, 515 E. Arrellaga St. is a beautiful 10- unit, 12,036 SF building with stunning ocean & mountain views (every deck has ocean views!) spanning downtown to East Beach.

Supplements: Built in 1969, this clean and well-maintained, low-maintenance property sits on ±0.33 acres of newly landscaped land and comprises eight (8) 960 SF 2BD/1.5BA and two (2) 2BD/2BA units Two single level units are located at the front of the building, with eight townhouse units sitting above 10 covered parking spaces on the ground level in the back. All units boast a large deck/patio with low rooftop view. This property is zoned R-3 (multi-family residential) under the jurisdiction of the City of Santa Barbara. This property has a potential for condo conversion. The portfolio comprises of three listings. The following addresses are included and are listed at $12,190,000: 515 E Arrellaga (APN# 027-132-013) 1417 Bath Street (APN #039-052-013) and 1916-1920 Chino Street ( APN #043-122-022). CALL TO OFFERS DATE IS MAY 25th, 2022. All three listings will be open for showings on May 17th, 2022. This listing will be open 12:00 am-2:00 pm. ; 515 E Arrellaga at 10am-12:00 pm, and 1916-1920 Chino Street- 12:00-2:00 pm. PLEASE DO NOT DISTURB THE OCCUPANTS