Multifamily Property for Sale - Santa Barbara, California ID: 3527871786

Opportunity to Own a Prime Santa Barbara Multi-family Asset with Major Upgrades & Future Value-Add Potential. 15 W. Islay Street presents a rare investment opportunity in the heart of Santa Barbara. The property consists of a charming 1920s duplex with (2) 1BD/1BA units, alongside a 1963 triplex offering (1) 2BD/1BA and (2) 1BD/1BA units, with the upstairs tenants enjoying a shared balcony. Ideally located between Downtown Santa Barbara and the Upper State Street corridor, residents benefit from convenient freeway access and proximity to shopping, dining, and entertainment. The property has undergone substantial recent improvements, providing investors with a well-maintained asset in a prime rental market. Additional value can be created both through rental upside within the existing units and through the potential to add new units via the City’s ADU program. Current ownership has submitted plans for a carport conversion into a junior ADU, with the opportunity to build up to two more detached ADUs at the rear of the lot.