5387 8th St - Apartments FOR SALE


Carpinteria, CA 93013- East Santa Barbara
$1,997,000 USD
805-705-7311
5387 8th St, Carpinteria, CA for Sale
$1,997,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

5387 8th St
Carpinteria, CA 93013
East Santa Barbara


HIGHLIGHTS

  • Rare Turnover Marketplace
  • Largest Unit Delivered vacant - Owner User Potential
  • Great location close to downtown, ocean
  • ADU conversion potential
  • foundation retrofit in 2025, new electrical main panel and sub panel in the garage, new gas meter and 2 tankless water heaters

OVERVIEW

5387 8th Street presents a rare opportunity to acquire a centrally located Carpinteria fourplex, just two walkable blocks from the “World’s Safest Beach” and approximately 0.5 mi from Linden Avenue’s vibrant retail and dining corridor. The property consists of (2) 1BD/1BA units and (2) studio units with a pay-per-use laundry room, carport parking accessed via a rear alley, and a detached single-car garage. Unit C, the largest one-bedroom unit, and Unit D, a studio, are currently vacant offering immediate opportunity to lease up units at market rate or an owner-occupant to utilize this vacant one-bedroom unit as a residence or vacation retreat. Additionally, the garage and carport areas may present potential for ADU conversion, subject to city review and approvals. The site has benefited from several recent capital improvements, including the installation of foundation retrofit plates for enhanced seismic stability in 2025, as well as a new electrical main panel and sub panel in the garage, a gas meter, and two tankless water heaters installed in 2021. Select units have been updated within the past five years with new wall heaters, vinyl plank flooring, and interior finishes. Don’t miss this compelling opportunity to acquire a well-located, income-producing asset in the supply constrained coastal market of Carpinteria. **Buyer to verify SF and any ADU conversion potential. SF is per owner and includes garage and laundry room area **GRM based on assumed market rent for 2 units that are currently vacant

FOR SALE DETAILS

PRICE

$1,997,000 USD

PRICE/SF

$832 USD /SF

# OF UNITS

4

PRICE/UNIT

$499,250

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

-

APN/PARCEL ID

003-331-005

ASK ABOUT THIS PROPERTY

Nick HenryBeachside Partners, Inc.More Info
805-705-7311

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Nick HenryBeachside Partners, Inc.More Info
805-705-7311

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.