Sold

Closed

323 W Islay Street

Santa Barbara CA, 93101

$2,480,000


$738.10 per sqft

Sold

Closed

7 Beds

6 Baths

3,360 sqft

Residential

Built in 1962

Listed by Stephen Epstein with Keller Williams Realty Santa Barbara 805-456-3600

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.

24383471

MLS ID

April 29, 2024

Listed

July 14, 2024

Updated

Map

323 W Islay Street
Santa Barbara CA, 93101

Interior Features

Total Stories

2


Bedrooms

7


Total Bathrooms

6


Appliances

Gas Range, Microwave, Refrigerator, Dryer, Washer


Laundry Description

Common Area


Floor Description

Carpet, Tile


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Forced Air, Wall Furnace

Exterior/Building Features

Lot Size

0.15 Acres

Other Property Details

Area Name

VC81 - Santa Barbara


Days on Market

26


Garage

No


Parking

Covered, Uncovered


Parking Total

6


View

No


County

Santa Barbara


Pool

No


Zoning

R-4

Listing History

Date

Event

Price

7/12/2024

Sold

$2,480,000

5/28/2024

Pending

5/10/2024

Price Change

$2,500,000

-14%

Listing Contact: 805-456-3600 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/14/2024 at 6:20 AM UTC

 

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