Multifamily Property for Sale - Santa Barbara, California ID: 3360011422

The Palm Tree Apartments, located at 2109, 2111, and 2115 De La Vina Street, consist of 40 units across three well-maintained buildings. The apartments feature (35) approx. 450 SF 1-bedroom/1-baths and (5) approx. 550 SF 2-bedroom/1-bath floorplans. Currently operated by the Battistone Foundation, a Santa Barbara non-profit dedicated to providing quality low cost housing for economically disadvantaged senior citizens, the majority of the units have been thoughtfully remodeled with updated flooring and fresh paint. Upstairs apartments offer vaulted ceilings and 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 and just a few blocks from Cottage Hospital, this property is just minutes from shopping, dining, and local attractions, offering tenants both convenience and a vibrant urban lifestyle. 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.