For Sale | Multifamily

414 W Figueroa St, Santa Barbara

10 Units Near Downtown SB
Property Description

414 W Figueroa Street is a Spanish-style 10-unit multifamily property located near downtown Santa Barbara, offering an excellent unit mix of 3 x 3BD/2BA, 6 x 2BD/2BA, and 1 x 1BD/1BA, totaling approximately 10,505 SF of living space (average unit size 1,050 SF). Originally built in 1979, the property sits on a 24,211 SF R-MH (Residential Multi-Unit and Hotel) zoned parcel with a Medium Average Unit Density Overlay (27 Units / Acre) which could allow for a maximum density of 15 total units. Tenants enjoy mature landscaping, a large common laundry room and excellent onsite parking. Ground-floor units feature oversized patios and yards while upper units include private balconies creating a unique indoor/outdoor living experience not typically found in this area. All units are separately metered for gas and electricity. Seller financing now available with minimum 35% down, 5.5% interest-only payments, and 5-year maximum term.

Property Details
Size 10 Units 10,505 SF
Price $4,998,000
Lot Size 24,211 SF (approx.)