Great updated investment opportunity near USC! Well-maintained triplex zoned LARD1.5 offering a strong 7.4% Cap Rate with additional rent upside potential. The property features two spacious VACANT 2-bedroom / 1-bath units (downstairs Unit 1478 and upstairs Unit 1474) plus a 1-bedroom / 1-bath unit (Unit 1478.5). Significant upgrades… Read More completed within the last 3 years include newer flooring, newer kitchens and bathrooms, fresh interior paint, new water heaters, plumbing improvements, waste line replacement, and one new wall heater. Current rents provide stable income with the opportunity to increase returns through market rent adjustments and continued unit optimization. Ideal for both seasoned and 1031-exchange investors seeking value-add potential in a high-demand rental area. Read Less
Property listed by Keller Williams Realty Santa Barbara, Jennifer Stein 805-319-5866
Listing Snapshot
Days Online
129
Last Updated
Beds
5
Square Ft.
2,263
Lot Size
0.13 Acres
Year Built
1911
MLS Number
26638505
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1911, Living area: 2263.0, 1 building, 2 stories, Levels: Two
Cooling
None
Heating
WallFurnace
Income
Gross Income: $97,491, Net Operating Income: $74,436
Laundry
CommonArea, LaundryRoom
Lot
0.1313 acres
Parking
6 open parking spaces, 6 total parking spaces, Uncovered
Taxes
Parcel Number: 5016002003, Zoning: LARD1.5
Tenant Pays
Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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