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$17,900,000

Est. payment - /mo

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21,687 SqFt

Active

2109 De La Vina ST Street Santa Barbara, CA 93105

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 21,687 sqft

Price per Sqft $825

MLS Listing ID 25-1624

Year Built 1971

Lot Size 1.000 Acres

Acres 1.0

Lot Dimensions 43560.0

Source Santa Barbara Multiple Listing Service

Property Description

The Palm Tree Apartments consist of 40 units across 3 well-maintained buildings. The apartments feature (35) 450 SF 1/1 + (5) 550 SF 2/1 units. The majority of the units have been thoughtfully remodeled with updated flooring and fresh paint. Upstairs apartments offer vaulted ceilings + private balconies, while downstairs units include spacious private patios. The property's newly refreshed landscaping enhances the communal courtyard, providing tenants with a serene retreat. The roof has been well-maintained by the current ownership, with the most recent work completed in 2023. Additional amenities include assigned parking and tenant storage options. Centrally located in downtown Santa Barbara + just a few blocks from Cottage Hospital, this property is just minutes from shopping + dining. Tenants pay for electricity. Landlord pays for water/trash and electricity for common areas, manager's unit and office.

Current rents are well below market due to current ownership running as a non-profit offering senior housing. Tremendous value add in prime location.

Location

State CA

County Santa Barbara

Interior

Laundry Laundry Room

Building

New Construction No

Others

Tax ID 025-232-006

Acceptable Financing Cash, Ctnl

Listing Terms Cash, Ctnl

Listed by Radius Group Commercial R.E.

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Mason Frakes

Broker Associate | License ID: 02036823

+1(805) 260-4860

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