718-724 De La Vina St - Apartments FOR SALE


Santa Barbara, CA 93101- West Downtown Santa Barbar
$2,900,000 USD
805-680-4622
718-724 De La Vina St, Santa Barbara, CA for Sale
$2,900,000 USD
Apartments - FOR SALE
1/24
null | 3.02% Cap Rate

718-724 De La Vina St
Santa Barbara, CA 93101
West Downtown Santa Barbar


HIGHLIGHTS

  • Ultra-rare newer-construction units in downtown Santa Barbara
  • 3 residential units + 1 commercial unit
  • Flexibility of uses for owner-use components as well, such as home/office combo or family compound
  • Flexible C-G zoning for possible future ADU (easy installation within covered parking area), or possible short-term rental of commercial unit (TBD)

OVERVIEW

In the heart of downtown Santa Barbara is this rare newer-construction mixed-use property, offering flexibility of use for any combination of residential owner-occupant(s) / family compound / commercial owner-user / investment. The 3 residential units were built brand-new in 2015 and are located privately and quietly at the back of the property. The 4th unit is a commercial space in front, which was completely renovated also in 2015. The residential unit mix is 2 spacious 1-bedroom units, including one with 2 full baths, plus a large studio, carefully arranged in a modern layout to provide privacy from each other. Each residential unit comes with an individual 1-car garage, and all the residential units have access to large decks or patio spaces. The commercial unit has 3 office rooms (one with a kitchenette), a full bathroom and an interior access storage area. The property is in the C-G zone which may provide options to use the commercial unit in other ways, such as conversion to a residential unit, or possible eligibility for use as a short-term residential rental. Accessory Dwelling Unit (ADU) laws may apply to allow for an additional unit to be constructed. Buyer to investigate zoning and land-use rules to their own satisfaction, Seller and listing agent representations are not guaranteed. The A+ location is within 1 block of Paseo Nuevo, within 2-5 blocks of dozens of downtown restaurants, theaters, retail, etc., and within 5-10 blocks to the Funk Zone, waterfront and beaches. Don’t miss this opportunity to live/ work/invest in the heart of downtown Santa Barbara in newer modern construction.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$1,108 USD /SF

# OF UNITS

4

PRICE/UNIT

$725,000

CAP RATE

3.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2015

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

C-G

APN/PARCEL ID

037-082-017

ASK ABOUT THIS PROPERTY

Ken SwitzerBerkshire Hathaway Commercial DivisionMore Info
805-680-4622

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Ken SwitzerBerkshire Hathaway Commercial DivisionMore Info
805-680-4622

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