1111 Quinientos St. Eastside Multifamily Portfolio | Santa Barbara, CA 93103

1111 Quinientos St.
Santa Barbara, CA 93103
Eastside Multifamily Portfolio

Property Type
Multi-Family
Price
$6,800,000
Units
8 Units
County
Santa Barbara

1111–3–5–7 Quinientos St. is a residential income complex located on the East Side of Santa Barbara near the bustling Milpas Street Corridor with numerous shopping, dining and commercial amenities. The investment opportunity comprises a total of 8 units, including 3 condos, 2 duplexes and an ADU. The condos are large, stand-alone residences, each with 3 bedrooms / 3 baths, bonus rooms and enclosed yards. Two of the condos have garages and the third has a 1 bedroom / 1 bath ADU. The condos were built in 2010 and remain in excellent condition. The duplexes are each 2 bedroom / 1 bath and have enclosed yards with a shared garage. They were likely built in the late 1960s and are in fair condition.

Current occupancy is 100% with under-market gross rents of $313,000. This asset is offered for sale as a portfolio, but the condos and duplexes could potentially be sold separately as each occupies its own parcel. The duplex units/parcels are also in final stages for approval of a total of two additional ADU’s. Buyers are encouraged to familiarize themselves with AB1482 and potential exceptions for the standalone properties. Contact Mike Lopus for details.

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