Santa Barbara, CA 93101 323 W Islay Street
$2,500,000
66 more
Presented By: Stephen Epstein with Keller Williams Realty Santa Barbara;
Home Details
Introducing Casa Napoli, a meticulously cared for and recently updated 5-unit apartment building nestled in the vibrant heart of Downtown Santa Barbara. Owned by the same family for nearly 50 years, this property exudes pride of ownership. Offering a spacious 3-bedroom, 2-bathroom unit as well as four 1-bedroom, 1-bathroom units totaling 3,360sq.ft., Casa Napoli offers versatile living spaces to suit a variety of lifestyles. Tenant amenities include both covered and uncovered parking for residents, as well as a convenient coin-operated community laundry room. A low maintenance asset with recent upgrades to the property including a brand-new roof over both the building and carport, ABS plastic sewer line, modernized plumbing and electrical systems, dual pane windows, and an extensive interior renovation throughout all units. A rare opportunity to own one of Santa Barbaras sought after apartment buildings! Current rents total $147,000 annually (4.22% cap). Total market rents are projected to be $190,800 annually (5.92% cap). Upon request, the offering memorandum, title report, natural hazards disclosure, reports/inspections and seller disclosures can be provided. Showings will be May 15th and 22nd by appointment only.
Presented By: Stephen Epstein with Keller Williams Realty Santa Barbara;
Interior Features for 323 W Islay Street
Bedrooms
Total Bedrooms7
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths6
Other Interior Features
LivingAreaSourcePlans
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
FlooringCarpet, Tile
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixStreet
Total Stories2
General for 323 W Islay Street
Additional Parcels Y/NNo
AppliancesGasRange, Microwave, Refrigerator, Dryer, Washer
Attached Garage No
Carport Y/NNo
CitySanta Barbara
CountySanta Barbara
Days on Market11
DirectionsExit 101N at Arrellage St, left on Bath St, left onto Islay St.
Garage Y/NNo
Gross Income148200.0
HOA / Comm AssnNo
HeatingForcedAir, WallFurnace
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet6534.0
MLS AreaVC81 - Santa Barbara
MobileHomeRemainsYNNo
Net Operating Income106341.0
New ConstructionNo
Open Parking Spaces2.0
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameIslay
Total Units5
View Y/NNo
Virtual TourClick here
Waterfront Y/NNo
Year Built1962
Year Built SourceOther
ZoningR-4
Exterior for 323 W Islay Street
Building Area Total3360.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.15
Lot Size Area6534.0
Lot Size SourceOther
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesCovered, Uncovered
SpaNo
Total Parking6.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480