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Beach Line Properties - Beachside Properties. Straight-line Investments.

Active
1231 Mason St Santa Barbara, CA 93103
$2,799,000
6 beds
4 baths

Courtesy of Omega Real Estate and Investments.

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Ben Wanetick

Ben Wanetick

Beachside Properties. Straight-line Investments.

Property Description

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 an owner/user or a 1031 buyer looking for an additional value play with 2/3 leases month-to-month. The big upside is the ability to build 4 additional units on this property(plans pending for 2 units).All three cottages have been remodeled extensively with current rents grossing $10,050 per month. The front cottage(907 SF) has 2 bedrooms and 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. The back two cottages are leased at $3,400 per month(market rent $3,900) with their own single-car garages, no shared walls, and large private back yards. This unique investment boasts a tranquil setting along Sycamore Creek and a community garden in the rear. Surely not one to be missed with close access to the 101 freeway and East Beach.

Property Details & Features

Property Type

  • Home/estate

Year Built

  • 1925

Bathrooms

  • 4 bathrooms
  • 4 full bathrooms

Bedrooms

  • 6 bedrooms

House

  • Built in 1925
  • 3 total units
  • Excellent
  • Single Story

Foundation

  • Raised

Water

  • S.B. Wtr

Heating & Cooling

  • Ceiling Fan(s)
  • Elec
  • Wall

Listing

  • Status: Active
  • Deposit: $3
  • Price: $2,799,000
  • 166 days on market

Location

  • County: Santa Barbara
  • Cross street: Salinas
  • District: 15 – SB/EAST OF STATE
  • Neighborhood: 15 – Lower Eastside
  • Level

Lot

  • 18,730 lot square feet (approximate)
  • Approximately 0.43 acres

Miscellaneous

  • Yes

Parking

  • Boat
  • Cpt #1
  • Gar #2
  • RV

Property

  • Property type: A
  • Fenced: ALL
  • Yard Irrigation PRT
  • Mountain
  • Setting
  • R-2

Roof

  • Composition

Schools

  • Elementary school: Franklin
  • High school: S.B. Sr.
  • Junior high school: S.B. Jr.

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