$17,900,000

Estimated payment $117,807/month

Total Views 488
-- Bed
-- Bath
21,687 Sq Ft
$825 Price per Sq Ft

Highlights

  • 1 Acre Lot
  • Laundry Room
  • Property is in excellent condition
  • Santa Barbara Senior High School Rated A-

About This Home

The Palm Tree Apartments consist of 40 units across 3 well-maintained buildings. The apartments feature (35) 450 SF 1/1 + (5) 550 SF 2/1 units. The majority of the units have been thoughtfully remodeled with updated flooring and fresh paint. Upstairs apartments offer vaulted ceilings + private balconies, while downstairs units include spacious private patios. The property's newly refreshed landscaping enhances the communal courtyard, providing tenants with a serene retreat. The roof has been well-maintained by the current ownership, with the most recent work completed in 2023. Additional amenities include assigned parking and tenant storage options. Centrally located in downtown Santa Barbara + just a few blocks from Cottage Hospital, this property is just minutes from shopping + dining. Tenants pay for electricity. Landlord pays for water/trash and electricity for common areas, manager's unit and office.Current rents are well below market due to current ownership running as a non-profit offering senior housing. Tremendous value add in prime location.

Listing Agent

Steve Golis

Radius Group Commercial R.E. License #00772218

Radius Group Commercial R.E.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • 1 Acre Lot
  • Property is in excellent condition

Home Design

  • 21,687 Sq Ft Home

Laundry

  • Laundry Room

Schools

  • Peabody Elementary School
  • S.B. Jr. Middle School
  • S.B. Sr. High School

Community Details

  • 40 Units

Listing and Financial Details

  • Assessor Parcel Number 025-232-006

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1971
  • ResoLaundryFeatures: Laundry Room
  • New Construction: No
  • Reso Property Condition: Excellent, Good
  • Property Information Year Built2: 1971
  • NeighborhoodSchools Elementary School: Peabody
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Condition Excellent: Yes
  • Laundry Laundry Room2: Yes
  • Property Information Main House SqFt: 21687.0
  • Property Information Apx Lot SqFt: 43560.0
  • Condition Good2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 1.0

Schools

  • Elementary School: Peabody
  • High School: S.B. Sr.
  • Middle Or Junior School: S.B. Jr.

Lot Info

  • Parcel #: 025-232-006
  • Zoning: C-2
  • Lot Size Sq Ft: 43560.0

Multi Family

  • Number Of Units Total: 40

Map

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/24/2025 04/24/25 For Sale $17,900,000 -- $825 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 25-1624

Santa Barbara Multiple Listing Service