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MULTI_FAMILY - SANTA BARBARA, CA
Rare San Roque duplex in a prime, walkable location near State Street, La Cumbre Plaza, shopping, and restaurants. Meticulously maintained by the same family for over 48 years, this turnkey property features two single-level homes with stunning panoramic mountain views. The lower unit is a 3-bedroom, 2-bath residence offering approximately 1,244 sq. ft., currently rented for $4,150 per month, with direct access to a one-car garage and in-unit laundry. The upper single-level 2-bedroom, 2-bath unit is vacant, with projected rents of $3,595 per month and laundry located in a separate one-car garage. Both units offer newer appliances, wood-like laminate flooring, and Milgard dual-pane windows installed in 2018. A roof tune-up was completed in 2025, and the driveway was recently slurry coated. Parking includes two single-car garages plus a single-car carport. Located within the highly desirab...
Rare San Roque duplex in a prime, walkable location near State Street, La Cumbre Plaza, shopping, and restaurants. Meticulously maintained by the same family for over 48 years, this turnkey property features two single-level homes with stunning panoramic mountain views. The lower unit is a 3-bedroom, 2-bath residence offering approximately 1,244 sq. ft., currently rented for $4,150 per month, with direct access to a one-car garage and in-unit laundry. The upper single-level 2-bedroom, 2-bath unit is vacant, with projected rents of $3,595 per month and laundry located in a separate one-car garage. Both units offer newer appliances, wood-like laminate flooring, and Milgard dual-pane windows installed in 2018. A roof tune-up was completed in 2025, and the driveway was recently slurry coated. Parking includes two single-car garages plus a single-car carport. Located within the highly desirable Monte Vista Elementary and La Colina Junior High School attendance areas. Ideal for investors or owner-occupants seeking rental income and owner-occupied financing in one of Santa Barbara's most sought-after neighborhoods. Duplexes in San Roque are rarely available, making this a unique opportunity. Smaller duplex next door with two 2b/1.5b units and no garages sold recently. The negotiated sales price was $1,715,000 (Gross Rent Multiplier: 20.4) and final sales price was $1,706,600 because of a credit for a new sewer lateral. The Gross Rent Multiplier for this property is 18.8 making it a more attractive investment. The sellers only pay 15% of the trash, sewer, and water bill and the tenants pay the remainder of the bill.
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