Exceptional trophy investment of three newly remodeled cottages. Rarely do you find a turn-key investment with large upside potential, like this one. Perfect for owner/user or a 1031 buyer looking for an add value play. Big upside being the plans pending to build an additional 2 cottages(ADU's) which would easily increase the monthly income $8,000 per month. Renderings available upon request. All three cottages have been remodeled extensively with current rents grossing $10,500 per month. The front cottage(907 SF) has 2 bedrooms, 2 bathrooms with a fenced in front yard at $3,250 per month(market rent $4,000). The tastefully updated back two cottages(941 SF each) have mirrored floor plans with 2 bedrooms and 1 bathroom.
- Price:
- $2,879,000
- Bedrooms:
- 6
- Full Baths:
- 4
- Acreage:
- 0.43
- Year Built:
- 1925
- Listing ID #:
- 22-1225
- Street Address:
- 1231 E Mason St
- City:
- Santa Barbara
- State:
- California
- Postal Code:
- 93103
- County:
- Santa Barbara
- Community:
- Sb/East Of State
- Subdivision:
- 15 - Lower Eastside
- Listing Status:
- Active
- Listing Type:
- Home/Estate-ResidentialAttachedDetached
K-6
600 students
25 student/teacher
- Building Condition:
- Excellent
- Construction Description:
- Single Story
- Foundation:
- Raised
- Number Of Units:
- 3
- Square Footage Source:
- Other/See Remarks
- Type Of Roof:
- Composition
- View:
- Mountain, Setting
- Year Built:
- 1925
- Conforms To Zoning:
- R-2
- Landscape Description:
- Fenced: All, Yard Irrigation Prt
- Lot Description:
- Level
- Lot Square Footage:
- 18730.00
- Days On Market:
- 117
- Terms:
- Cash, Ctnl
- Parking Description:
- Boat, Cpt #1, Gar #2, Rv
- Heating And Air:
- Ceiling Fan(s), Elec, Wall
- Water/Sewage:
- S.B. Wtr
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By Omega Real Estate And Investments
