Courtesy of Austin Jones, Omega Real Estate and Investments

543.5 Arroyo Ave

SANTA BARBARA, CA, 93109

$4,595,000

$1,065 per ft²
$4,595,000
$1,065 per ft²
Active
Active
 - For Sale
beds
8 Beds
baths
7 Baths
carpenters-square
4,312 ft²
property_type
Residential
calendar
Built 1989
Rare opportunity on the Mesa - 8 bedrooms, 7 bathrooms, over 4,300 square feet and resting on a secluded 1.27 acre lot.This custom-built home has proven to be a very strong income-producing asset for student housing with current monthly rents of $30,420 per month(Actual 6% CAP). Additional rental income is possible with 3 open beds that can be filled next semester with a large waitlist of applicants. The flexible floor plan could also operate as a large family compound with multiple entrances, an abundance of parking and plenty of exterior space for outdoor entertainment. A peek of the ocean can be viewed from the top floor balcony and in total there are over 1,000 square feet of balcony space. One must walk through the botanical gardens located below the house to truly appreciate this tranquil lot backing up to Honda Valley Park. Big buyer upside potential with the ability for additional ADU's as well as a lot split (Buyer to verify). A true gem with a superb location near Leadbetter Beach, Santa Barbara City College, and Downtown Santa Barbara.
MLS® ID:
22-3174
Listed:
9/19/22
Updated:
12/8/22
Village Properties
Village Properties

Interior Features

Kitchen Appliances
Dishwasher, Dryer, Gas Rnge/Cooktop, Washer
Total Bedrooms
8
Full Bathrooms
6
Half Bathrooms
1

Exterior/Building Features

Exterior Features
Deck, Fruit Trees, Shed(s)

School Information

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

Other Property Details

Area Name
20 - SB/WEST OF STATE
Garage
No
Parking
N
View
Y
County
Santa Barbara
Water Source
SB Wtr
Pool
No
Zoning
R-1

Property History

Date
Event
Price
Value
12/1/22
Price Change
$4,595,000
-4%

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

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Data last updated 7:08 AM UTC, 12/8/22

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