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2019 Castillo St - 2019 Castillo St 3 Unit Apartment Building Offered at $2,100,000 at a 4.52% Cap Rate Santa Barbara, CA 93105
Investment Highlights
- Close to cottage hospital
- Great downtown location
- Private garage
- In unit washer/dryers
- Larger units
- Spacious private outdoor space
Executive Summary
PRP is pleased to present 2017-2019 Castillo Street, a renovated triplex in the heart of Santa Barbara. The property features three spacious two-bedroom, one-bathroom units totaling approximately 3,047 square feet on an 8,276 square foot lot. The front unit is a standalone single-family-style home with a private yard, while a detached rear building contains two additional units. The property was extensively renovated in 2024 with open-concept layouts, wide-plank hardwood flooring, quartz countertops, stainless steel appliances, and upgraded bathrooms. Each unit includes in-unit washer and dryer and two units have enclosed garage parking. Located minutes from State Street and the Santa Barbara Public Market, the property offers strong rental demand in a prime coastal market.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$145,080
|
$47.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,352
|
$1.43
|
| Effective Gross Income |
$140,728
|
$46.19
|
| Taxes |
$26,250
|
$8.62
|
| Operating Expenses |
$19,509
|
$6.40
|
| Total Expenses |
$45,759
|
$15.02
|
| Net Operating Income |
$94,969
|
$31.17
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $145,080 |
| Annual Per SF | $47.61 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,352 |
| Annual Per SF | $1.43 |
| Effective Gross Income | |
|---|---|
| Annual | $140,728 |
| Annual Per SF | $46.19 |
| Taxes | |
|---|---|
| Annual | $26,250 |
| Annual Per SF | $8.62 |
| Operating Expenses | |
|---|---|
| Annual | $19,509 |
| Annual Per SF | $6.40 |
| Total Expenses | |
|---|---|
| Annual | $45,759 |
| Annual Per SF | $15.02 |
| Net Operating Income | |
|---|---|
| Annual | $94,969 |
| Annual Per SF | $31.17 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $4,048 | 3,047 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 025-291-009 | Total Assessment | $255,607 |
| Land Assessment | $50,804 | Annual Taxes | $26,250 ($8.62/SF) |
| Improvements Assessment | $204,803 | Tax Year | 2025 |
Property Taxes
Parcel Number
025-291-009
Land Assessment
$50,804
Improvements Assessment
$204,803
Total Assessment
$255,607
Annual Taxes
$26,250 ($8.62/SF)
Tax Year
2025
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2019 Castillo St - 2019 Castillo St
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