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427 W Islay Street

Santa Barbara, CA 93101

– beds
– baths
– sqft
16,117 sqft lot
– on site

22 Units in the Heart of Santa Barbara. This is an incredible investment opportunity, ideally situated to take advantage of the city's robust rental market. This property features a mix of 1-bedroom, 1-bathroom apartments and cozy studios. A convenient common laundry facility adds to the property's appeal for tenants. Recent upgrades too numerous to mention. Ample off-street parking. Priced to deliver a cap rate of over 5, this investment offers both strong cash flow and potential for long-term appreciation. With its prime location near Cottage Hospital and the entire medical district, residents will enjoy easy access to Santa Barbara's dining, shopping, and entertainment, making this property a standout addition to any investor's portfolio.

Listed By CRMLS_CA / Stephen Epstein / Keller Williams Realty Santa Barbara

Last checked: Checking… • Last updated Jan 17, 2025 •

MLS# 24435575 —

The Building

New Construction:

No
Building Area Total:

7088.00
Total Number Of Units:

22
# of Buildings:

1
Stories Total:

2

Interior

Levels:

Two
Laundry:

Community
Laundry:

1

Location

Directions:

Exit HWY 101 N at Mission St, right on Mission St, right on Castillo St, right on W Islay St.
Latitude:

34.42367900
Longitude:

-119.71706000

The Property

Property Type:

Residential Income
Zoning:

R-4
Lot Size Area:

16117.0000
Lot Size Acres:

0.3700
Lot Size SqFt:

16117.00
Other Structures:

Shed(s)

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

027081021

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

No
Cooling:

None

Appliances

Appliances:

Refrigerator
Included:

Yes

The Community

Association:

No
Senior Community:

No
Assessments:

No

Parking

Parking:

Yes
Parking:

Uncovered
Parking Spaces:

22.00
Uncovered Spaces:

22.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
10/22/24 Oct 22, 2024	Pending	CRMLS_CA	$6,995,000
10/10/24 Oct 10, 2024	Price Changed	CRMLS_CA	$6,995,000	-5.4%
9/9/24 Sep 9, 2024	Listed / Active	CRMLS_CA	$7,395,000	69.6%

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This multifamily located in Downtown Santa Barbara, Santa Barbara, CA 93101 is currently pending sale for $6,995,000. 427 W Islay Street is a – square foot multifamily with – beds and – baths that has been on Estately for 166 days. 427 W Islay Street is in the Downtown Santa Barbara neighborhood of Santa Barbara and has a WalkScore® of 67, making it somewhat walkable. This multifamily is in the attendance area of Santa Barbara Junior High School, Santa Barbara High School, and Peabody Charter School.

Listing Courtesy of: CRMLS_CA and Keller Williams Realty Santa Barbara. Based on information from California Regional Multiple Listing Service, Inc. as of 14:54 on Feb 22.

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.