Jeremiah Moersch REALTOR®
Office: 760-533-2540
323 Islay Street, Santa Barbara
$2,500,000
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4 Beds
3 Baths
3,360 Sqft
.15 Acre
0 Garage
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.
Essential Information
- MLS® #
- 24383471
- Price
- $2,500,000
- Bedrooms
- 4
- Bathrooms
- 3.00
- Square Footage
- 3,360
- Acres
- 0.15
- Year Built
- 1962
- Type
- Residential Income
- Status
- Active
Community Information
- Address
- 323 Islay Street
- Area
- VC81 - Santa Barbara
- City
- Santa Barbara
- County
- Santa Barbara
- Zip Code
- 93101
- Senior Community
- N
Amenities
- Parking Spaces
- 6
- Parking
- Covered, Uncovered
- Garages
- Covered, Uncovered
Interior
- Interior
- Carpet, Tile
- Heating
- Forced Air, Wall Furnace
- # of Stories
- 2
- Stories
- Two
Appliances
Gas Range, Microwave, Refrigerator, Dryer, Washer
Additional Information
- Date Listed
- April 29th, 2024
- Days on Market
- 19
- Zoning
- R-4
Listing Details
- Agent
- Stephen Epstein
Office
Keller Williams Realty Santa Barbara
Property History
Price Reduced from $2,895,000 to $2,500,000
LISTING MAP
Based on information from California Regional Multiple Listing Service, Inc. as of May 18th, 2024 at 8:50am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.