DRE# 01440068, DRE# 02037359, DRE# 02047418

230-234 Castillo St

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230-234 Castillo St, Santa Barbara, California 93101

$6,395,000

  • 21 units

This superbly located West Beach apartment property -- central to the harbor, Waterfront, Funk Zone, City College and downtown -- has been rented as a 21-unit complex for decades. A current ZIR by the City of Santa Barbara determined there are 18 permitted residential units with 3 studios to be combined with adjacent units to meet code compliance, which shall be the buyer's responsibility. However, the economic impact is positive as current management has been conservative with rents. The financial analysis on the following page represents current rents with 21 units. This property is well maintained, and the average tenancy of the current residents is 4 years. See attachments for more details and a confidentiality agreement that must be signed prior to receiving full due diligence package.

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Property Details

Year Built
2000
Total Units
21
Zoning
R-3
Terms
OTHER/CLA
Elementary Schools
Washington
Jr. High Schools
LaColina
High Schools
S.B. Sr.

MLS #19-3132 | Listed by Hayes Commercial Group on 9/4/2019 | Information updated 9/5/2019 12:15 PM PST | Status: Active

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