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2019 Bath St 4 Unit Apartment Building $2,100,000 ($525,000/Unit) 3.70% Cap Rate Santa Barbara, CA 93105
Investment Highlights
- Prime Santa Barbara location adjacent to Cottage Hospital with consistent tenant demand.
- Value-add opportunity with potential to develop ADUs and increase revenue.
- Four-unit asset with strong in-place income and long-term investment stability.
- Desirable unit mix with on-site parking and laundry enhancing tenant appeal.
Executive Summary
Located next to Cottage Hospital in Santa Barbara, 2019 Bath Street is a well-positioned four-unit apartment building offering a desirable unit mix and strong long-term investment potential. The property provides tenants with convenient on-site amenities including two covered carports and a shared laundry room. In addition to its current income, the property presents a compelling value-add opportunity with the potential to add ADUs, allowing a future owner to increase both rental income and overall property value. With its proximity to Cottage Hospital and consistent demand for housing in Santa Barbara, 2019 Bath Street represents an attractive opportunity for investors seeking stable income with future upside.
Property Facts In Escrow
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $525,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 3.70% | Building Size | 4,400 SF |
| Gross Rent Multiplier | 16.02 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1999 |
| Property Type | Multifamily | Parking Ratio | 0.91/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-4 | ||
| Price | $2,100,000 |
| Price Per Unit | $525,000 |
| Sale Type | Investment |
| Cap Rate | 3.70% |
| Gross Rent Multiplier | 16.02 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,400 SF |
| No. Stories | 2 |
| Year Built | 1999 |
| Parking Ratio | 0.91/1,000 SF |
| Zoning | R-4 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 732 - 765 |
| 2+2 | 1 | - | 1,072 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 025-292-012 | Improvements Assessment | $953,657 |
| Land Assessment | $956,938 | Total Assessment | $1,910,595 |
Property Taxes
Parcel Number
025-292-012
Land Assessment
$956,938
Improvements Assessment
$953,657
Total Assessment
$1,910,595
Contacts
-
Gene Deering -
Paul Gamberdella -
Frank Gamberdella -
Radius Commercial Real Estate
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2019 Bath St
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