Attractive,unique downtown Santa Barbara complex consisting of 10 good sized one bdrm units, laundry rm, covered storage space,& 4 offstreet garages in 2 buildings. Some units have small yards, some have balconies, some have high ceilings. Front building is a 2 story Victorian well maintained & extensively remodeled. Back building was built in 1986. In exchange for designating the property as Sr Housing for those 55 & older the owners received a bonus density allowance to increase the number of units on the property. Easily rented, either through City or County Housing programs or on open market, 9 units are rented month to month, with a very stable tenant population. Many rents being adjusted as of Sept. The total income will be$16,637/mo.Property has been carefully managed over the yrs. Check out this unique Santa Barbara complex, just above Micheltorena. People shown the property have said they would be happy living here because of the privacy of each unit, the appealing design, & outdoor spaces.
11 gas meters, 11 electric meters & one large +-75 gallon central water heater in each building.
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