Turnkey multi-unit asset with strong cash flow and long-term upside! Spacious 4-unit complex (one 3 bed/2 bath, three 2 bed/1 bath) plus a separate studio (unpermitted, for extra income), ideally located near UCSB, shopping, beaches, Girsh Park, and the Wells-Elings Marsh Trail. Section 8 status ensures steady income, high demand, low turnover, and low vacancy. Projected gross annual income approx. USD180,000 (rent increases Aug 1, 2025). Property has potential for an ADU. Please do not disturb tenants.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 5
- Full Bathrooms: 5
- 1/2 Bathrooms: 5
Appliances
- Laundry Features: Laundry Room
Land Info
- Near Public Transit
- Lot Size Acres: 0.23
- Lot Size Square Feet: 10019
Multi-Unit Info
- Number of Buildings: 4
- Number of Units: 4
School Information
- Elementary School: Isla Vista
- High School: Dos Pueblos
- Middle School: Gol Valley
Other Property Info
- Source Listing Status: Active
- County: Santa Barbara
- Source Property Type: Residential
- Area: 30 - SB/GOL SOUTH
- MLS Area Minor: 30 - SB/GOL SOUTH
- Source Neighborhood: 30 - Ellwood/Santa Barbara Shores
- Parcel Number: 073-200-014
- Subdivision: 30 - Ellwood/Santa Barbara Shores
- Zoning: R-3
- Property Subtype: Home/Estate
Building and Construction
- Year Built: 1968
- Foundation Details: Slab
- Levels: Two, Outside Stairs
- Property Age: 57
- Property Condition: Good
- Levels or Stories: Two
- Architectural Style: Apt Style