$2,799,000
6 Beds
4 Baths
SqFt
0.43 Acre Lot
18,730 Sqft Lot
Status Active
Property Type Home/estate
Price Type
Year Built 1925
Neighborhood 15 – Lower Eastside
Days on Website 231

Property Map

$2,799,000 – 1231 Mason St, Santa Barbara, CA 93103

Street View

Courtesy of Omega Real Estate and Investments.

Description

Exceptional trophy investment of three newly remodeled cottages with seller financing available. 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 and Features

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
  • 232 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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