622 & 630 E Victoria St Santa Barbara, CA 93103
Laguna NeighborhoodEstimated payment $38,502/month
Highlights
- Property is near an ocean
- 0.37 Acre Lot
- Laundry Room
- Santa Barbara Senior High School Rated A-
- Property is near a park
About This Home
Superb opportunity to acquire 16 units in two contiguous and well-maintained 8-unit multifamily properties located at the base of Santa Barbara's Lower Riviera neighborhood. The property's ideal location provides proximity to shopping, restaurants, downtown, multiple parks, and the Santa Barbara Bowl. This number of units in a location of this quality seldom comes available. Both buildings are two-story, garden-style walk-ups that provide an excellent unit mix of 4 X 2BD/1BA units and 12 X 1BD/1BA units. Each building offers large and functional layouts, on-site laundry rooms, good on-site parking and a communal front yard. There are four ground-floor units, two at each property, that enjoy an enclosed
outdoor patio. See ''more'' The properties have been well-maintained by the seller, with several updates to most units. Current rents are approximately 30-44% below market after an owner makes further updates. Please call listing agent for more information and a link to property documents including: Financials, building plans, General Building Inspection, SB721 Inspection, Pest Inspection, Roof Inspection, and Sewer Lateral Inspection.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1961
Home Design
- Slab Foundation
Interior Spaces
- 9,672 Sq Ft Home
- 2-Story Property
- Laundry Room
Parking
- 12 Open Parking Spaces
- 16 Parking Spaces
Location
- Property is near a park
- Property is near public transit
- Property near a hospital
- Property is near schools
- Property is near shops
- Property is near a bus stop
Schools
- Roosevelt Elementary School
- S.B. Jr. Middle School
- S.B. Sr. High School
Utilities
- Shared Gas Meter
- Individual Gas Meter
Additional Features
- Property is near an ocean
- 0.37 Acre Lot
Listing and Financial Details
- Assessor Parcel Number 029-142-003
- Seller Considering Concessions
Community Details
Overview
- 16 Units
- 15 Riviera/Lower Subdivision
Building Details
- Operating Expense $147,323
- Gross Income $403,112
- Net Operating Income $247,727
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/15/2025 04/15/25 | Pending | -- | -- | -- |
| 04/08/2025 04/08/25 | For Sale | $5,850,000 | -- | $605 / Sq Ft |
Source: Santa Barbara Multiple Listing Service
MLS Number: 25-1382
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