323 W Islay Street, Santa Barbara, CA 93101 (MLS # 24383471)
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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.
| DAYS ON MARKET | 17 | LAST UPDATED | 5/10/2024 |
|---|---|---|---|
| YEAR BUILT | 1962 | COMMUNITY | Santa Barbara |
| COUNTY | Santa Barbara | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to May 10, '24 | $2,895,000 |
|---|---|
| May 10, '24 - Today | $2,500,000 |
| ADDITIONAL DETAILS | |
| APPLIANCES | Dryer, Gas Range, Microwave, Refrigerator, Washer |
|---|---|
| AREA | Santa Barbara |
| BUYER'S BROKERAGE COMPENSATION | 2.500 % |
| GARAGE | Covered, Uncovered |
| HEAT | Forced Air, Wall Furnace |
| LOT | 6534 sq ft |
| PARKING | Covered,Uncovered |
| STORIES | 2 |
| ZONING | R-4 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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