Courtesy of Austin Jones, Omega Real Estate and Investments

1231 E Mason St

SANTA BARBARA, CA, 93103

$2,799,000

$2,799,000
Active
Active
 - For Sale
property_type
Other
calendar
Built 1925
Exceptional trophy investment of 3 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.
MLS® ID:
22-1292
Listed:
4/24/22
Updated:
12/8/22
Village Properties
Village Properties

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Unit
Floor Description
Hardwood, Tile

School Information

High School
S.B. Sr.
Middle/Jr High
S.B. Jr.
Elementary School
Franklin

Other Property Details

Area Name
15 - SB/EAST OF STATE
Garage
Yes
Garage Spaces
2
Parking
Y
View
N
County
Santa Barbara
Pool
No
Zoning
R-2

Property History

Date
Event
Price
Value
9/14/22
Price Change
$2,799,000
-2%
6/15/22
Price Change
$2,879,000
-1%

Courtesy of Omega Real Estate and Investments, Austin Jones,
Listing Contact:  

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Data last updated 7:26 AM UTC, 12/8/22

Village Properties
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