CA > Santa Barbara
Santa Barbara, CA 93103,1215 Cacique ST #18
Santa Barbara, CA 93103,1215 Cacique ST #18
Santa Barbara, CA 93103,1215 Cacique ST #18
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$8,250,000
Est. payment /mo
20 Beds
16 Baths
11,300 SqFt
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UPDATED:

02/27/2025 06:29 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,300 sqft

Price per Sqft $730

MLS Listing ID 25504073

Bedrooms 20

HOA Y/N No

Year Built 1989

Lot Size 0.670 Acres

Property Description

We are pleased to present Sycamore Creek Apartments, an 18-unit multifamily investment opportunity in Santa Barbara, CA.Situated on a 29,185 SF lot (0.67 acres), the property consists of three buildings with 16 one-bedroom units (~550 SF each), a two-bedroom apartment (~950 SF), and a standalone two-bedroom house with a den (~1,100 SF).A highly attractive assumable Chase Bank loan is in place, featuring a 4.80% fixed interest rate through August 2027 and an outstanding balance of ~$4 million (~50% LTV). This provides investors with below-market financing in a high-interest rate environment.The property has undergone over $500,000 in capital improvements (2022-2025), including new roofs, a repaved parking lot, brand-new sewer laterals, exterior repainting, and SB 721-compliant balcony replacements. With minimal deferred maintenance, an investor can focus on maximizing rents and long-term appreciation.Sycamore Creek Apartments offers 10%+ rental upside with no local rent controlonly subject to California's AB 1482 (currently allowing ~8.5% annual rent increases). Additionally, the large lot provides the opportunity to develop two detached ADUs, further enhancing income potential.With strong rental upside, assumable financing, and a supply-constrained location, Sycamore Creek Apartments presents an ideal opportunity for investors seeking stable cash flow and long-term appreciation in Santa Barbara.

Location

State CA

County Santa Barbara

Area Vc81 - Santa Barbara

Zoning R-3

Interior

Fireplace No

Exterior

Parking Features Covered, Uncovered

Total Parking Spaces 15

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 017222020

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Filip Niculete • Marcus & Millichap

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