You are not going to want to miss out on this exceptional opportunity to acquire a 4-unit residential income property conveniently located close to Trader Joes, Sprouts, and just a short drive to Montecito, Downtown, and the beach! 925 E. Yanonali St. is a charming, beautifully remodeled 4-unit complex comprising of a 3 bed/2 bath single-family residence in the front perfect for the owner to reside in. Additionally, there is another 3 bed/2 bath unit, two 1 bed/1bath units as well as a permitted fifth structure that could be an additional rental. Each with their own personal touches this layout offers privacy and separate living and entertaining areas.
Tastefully and thoughtfully retouched, the property has all the desired features with a tall privacy hedge and tall wooden gates for separate entry. All units are bright, sun-filled, and feature open-concept living. Three of the five units feature front sitting porches perfect to create an outdoor sitting area to enjoy a morning cup of coffee or evening cocktail. Drought/budget-friendly turf creates room for outdoor enjoyment and a perfect place for an umbrella and chairs.
This is a perfect and rare opportunity to invest in a multi-unit property that is perfect for a 1031 Exchange with the 4.4% projected cap rate, a compound or an owner/occupant seeking immediate cash flow in Santa Barbara.
*All new landscaping throughout
*New lighting & exterior light fixtures
*All new kitchen appliances including range, refrigerator, dishwasher & ample kitchen storage!
*New bathroom finishes
*Electronic entry door code
*Washer/dryer hookup in units (front right unit already has washer/dryer in unit!)
*Self-park driveway/street parking (9 potential off street parking)