Land for Sale - Development and Residential - Santa Barbara, California ID: 704136999

$400,000 Price Reduction For a Prime Residential Development Parcel w/ 4 Existing Rentals. SELLER FINANCING POSSIBLE: up to 60% purchase price at 6% interest only fixed for 3 years. This approx. 1.3 acre property located in Central Santa Barbara County benefits from favorable zoning for either rental or for-sale housing development, allowing for 15 residential units before applying the increased State Bonus density referred to in the available land use summary. The existing residential structures accommodate four existing residential units with one unit being vacant due to some needed repairs. Existing income provides carry during entitlements. Property is not only a candidate for the State Bonus density program but a potential up-zone with SB County. Property is being sold without any entitlements in its existing condition. Please do not disturb the existing tenants. Contact Listing Agent for details.