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Lower Riviera Location by Santa Barbara Bowl 1226 N Salsipuedes St 8 Unit Apartment Building $2,750,000 ($343,750/Unit) Santa Barbara, CA 93103
Investment Highlights
- Eight (8) 1-bedroom, 1-bath units plus excess land; ADU potential.
- $343,750/unit; 4.43% cap rate.
- 10 total (9 carports).* *One space is allocated to neighboring property.
Executive Summary
Lower Riviera location near Santa Barbara Bowl. Within walking distance of Santa Barbara High School. Prime multifamily investment opportunity featuring an 8-unit apartment building comprised entirely of 1-bedroom/1-bath units, offering a highly desirable and efficient unit mix for consistent tenant demand. The property presents strong in-place income with additional upside through ADU development potential, allowing investors to further increase cash flow and overall asset value.
Situated in a centrally located neighborhood with convenient access to downtown amenities, employment centers, and transportation, 1226 N. Salsipuedes St. combines stability, scalability, and long-term growth potential—ideal for both seasoned investors and those seeking to expand their multifamily portfolio. Contact Listing Agents for further details and to schedule a showing.
Situated in a centrally located neighborhood with convenient access to downtown amenities, employment centers, and transportation, 1226 N. Salsipuedes St. combines stability, scalability, and long-term growth potential—ideal for both seasoned investors and those seeking to expand their multifamily portfolio. Contact Listing Agents for further details and to schedule a showing.
Property Facts
| Price | $2,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $343,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| No. Units | 8 | Building Size | 4,256 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1960 |
| Zoning | R-3 - It allows for single-family homes, duplexes (two-family), and small apartments. It restricts commercial businesses. | ||
| Price | $2,750,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 4,256 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Zoning | R-3 - It allows for single-family homes, duplexes (two-family), and small apartments. It restricts commercial businesses. |
Amenities
Unit Amenities
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Carpet
- Breakfast Nook
- Patio
- Vinyl Flooring
- Large Bedrooms
Site Amenities
- Laundry Facilities
- Private Bathroom
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 029-142-014 | Improvements Assessment | $319,046 |
| Land Assessment | $222,045 | Total Assessment | $541,091 |
Property Taxes
Parcel Number
029-142-014
Land Assessment
$222,045
Improvements Assessment
$319,046
Total Assessment
$541,091
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