Multifamily Property for Sale - Student Housing - Santa Barbara, California ID: 3517392584

Welcome to Arroyo House — a fully remodeled, turn-key investment property on a massive lot in Santa Barbara’s highly sought-after Mesa community. Currently operating as premium student housing, Arroyo House serves students from SBCC, UCSB, and Westmont College. This exceptional property features 10 fully furnished rooms with 26 total beds, currently configured as (3) Doubles, (5) Triples, (1) Quad, and (1) Single. Each unit has been tastefully upgraded with high-end furniture and modern finishes, offering a comfortable and stylish living environment. Outdoor amenities include new landscaping, a volleyball court, and ample private parking — enhancing both tenant experience and long-term value. Additionally, the solar system is fully paid off, and a 400-amp commercial-grade electrical panel has been added. The property has seen approximately $60,000 in capital improvements since July 2025, including a brand-new sewage tank with high-capacity ejection pumps. This upgrade is expected to extend pump life from roughly 2 years to 8–10 years, eliminating what had historically been the property's most recurring maintenance burden. Whether you're looking for a cash-flowing asset or a unique student housing opportunity, Arroyo House checks all the boxes. This large single-family residence offers a high-occupancy dwelling ideal for use as a sober living home, recovery housing, transitional housing, supportive housing, group home, or other structured living environment, with flexibility for shared supportive residence, community-based housing, co-living property, shared housing, or room-by-room rental opportunities.