Opportunity knocks! Two existing homes with plans to build two more totaling four potential homes on this 0.34ac R-2 lot. Contractor bid of $1,250,000 to complete two more units and five car garage puts the total investment at $3,745,000, averaging $936,250 each with excellent rental potential. Near Trader Joe's on Milpas St., close to East Beach, and near restaurants and hotels - yet set on a quiet street in Santa Barbara. The main house is a classic home with wood floors, large kitchen, three bedrooms, two bathrooms, deck, and air conditioning. The remodeled and updated back house consists of two bedrooms, one bath, a living room, and kitchen with laundry. Plans include two new 1075sf and 1086sf two-bedroom townhomes, five covered garage spaces, and three onsite parking spaces.
Courtesy of: Santa Ynez Valley Real Estate 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: 5th July, 2022 3:17 AM (UTC)
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