323 Islay Street

Santa Barbara, CA 93101

$2,500,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $744 / sqft

1962

calendar_month Built

Property Description

Introducing Casa Napoli, a meticulously cared for and recently updated 5-unit apartment building nestled in the vibrant heart of Downtown Santa Barbara. Owned by the same family for nearly 50 years, this property exudes pride of ownership. Offering a spacious 3-bedroom, 2-bathroom unit as well as four 1-bedroom, 1-bathroom units totaling 3,360sq.ft., Casa Napoli offers versatile living spaces to suit a variety of lifestyles. Tenant amenities include both covered and uncovered parking for residents, as well as a convenient coin-operated community laundry room. A low maintenance asset with recent upgrades to the property including a brand-new roof over both the building and carport, ABS plastic sewer line, modernized plumbing and electrical systems, dual pane windows, and an extensive interior renovation throughout all units. A rare opportunity to own one of Santa Barbaras sought after apartment buildings! Current rents total $147,000 annually (4.22% cap). Total market rents are projected to be $190,800 annually (5.92% cap). Upon request, the offering memorandum, title report, natural hazards disclosure, reports/inspections and seller disclosures can be provided. Showings will be May 15th and 22nd by appointment only.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Flooring Information
Material Carpet, Tile
Interior Information

Listing Information

Address 323 Islay Street
City Santa Barbara
State CA
Zip 93101
County Santa Barbara
Listing Agent Stephen Epstein DRE#00994429
Courtesy Of Keller Williams Realty Santa Barbara
MLS 24383471
List Price $2,500,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 6,534
Year Built 1962
DOM 13

Exterior Information

Maps

Listing information courtesy of: Stephen Epstein, Keller Williams Realty Santa Barbara . *Based on information from the Association of REALTORS/Multiple Listing as of May 10th, 2024 at 11:44 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.