Located in Santa Barbara’s prime Medical Corridor and near Cottage Hospital, this multifamily property offers a rare value-add opportunity in a high-demand, low-supply submarket. With two of four units currently vacant, investors can capitalize on immediate leasing upside at current market rates. The flexible unit mix—ranging from studios to a spacious 3BD/3BA—broadens tenant appeal, while the potential to convert one or both 2-car garages into ADUs presents additional income and long-term value. Enhanced by ample on-site parking and a highly walkable location near De La Vina and State Street, this property is ideal for strategic renovations and repositioning to unlock its full potential. Price $2,395,000 Building Size 4,260 SF (two buildings) Lot Size 9,148 SF APN 025-183-024 Unit Mix 1 x 3BD/3BA 1 x 2BD/1.5BA 2 x Studio Units Zoning R-MH (residential multi-unit and hotel) Parking Two 2-car garages, plus 2 onsite parking areas Occupancy 2 of 4 units currently vacant To Show Call listing agent