Description
Mixed Use Leased Investment at 4.52% Cap Rate. Fully stabilized rare State St Residential /Commercial property in the downtown core close to many amenities, beach and funk zone! Property consists of 1550 SF commercial space, and beautifully upgraded upstairs 930 SF 1 bdrm, 1 bath residential unit with large retractable windows allowing for amazing Riviera and Mountain Views. Laundry in unit and 1 car parking. Both spaces are leased generating 4.52 Cap. Exciting location w/ brand new 46 room Drift Hotel opening soon and upgraded Hotel Santa Barbara both one block away. Upcoming lifestyle project 1/2 block away featuring a restaurant, speakeasy, and major live music venue operated by Moss Adams (County Bowl). Also new 78 unit apartment building under construction at State and Gutierrez.
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Listing information provided courtesy of the Santa Barbara MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 23rd March, 2023 7:28 PM (UTC)
Listing Office: Berkshire Hathaway HomeServices California Properties
