
SANTA BARBARA, CA 93103
Analysis of 1107-1111 E Cota St, SANTA BARBARA, CA 93103 is currently available with a list price of $6,500,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the SANTA BARBARA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
The property was built and substantially remodeled in 1999, making the systems and finishes approximately 25 years old. While the units appear well-maintained and move-in ready, the kitchens feature dated tile countertops and older cabinetry styles consistent with the late 90s, fitting the criteria for properties over 20 years old needing eventual updates.
Comprising six freestanding homes originally designed as condominiums, this property offers rare flexibility for rental income, 1031 exchanges, or future condominium conversion.
Situated at the base of the Lower Riviera near the Funk Zone and Santa Barbara's beaches, the location ensures high tenant demand and strong long-term appreciation.
The existing lower-level room and garage at 1111 E Cota provide a turnkey opportunity to develop an 800± SF 2-bedroom ADU, significantly increasing the property's total rental yield.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =21780, other record lot size in square feet = 10890. Living area discrepancy between mls listing and other public or private record. mls listing living area = 8853, other record living area = 1524.
The $6.5M asking price is a 100% increase over the 2022 sale price of $3.25M, which may require investors to look closely at current cap rates and market justification.
Managing six separate freestanding residences and two adjacent parcels involves higher maintenance oversight and operational costs compared to a single consolidated apartment building.
Nestled at the base of Santa Barbara's famed Lower Riviera, this exceptional investment opportunity consists of six freestanding homes across two adjacent parcels at 1107 and 1111 E Cota Street, located just minutes from Downtown Santa Barbara, the Santa Barbara County Bowl, the Funk Zone, a wide variety of shopping, and Santa Barbara's white sand beaches. The offering includes six 3BD/2BA homes, each with an attached two-car garage, ranging in size from approximately 1,300 to 1,600 SF. The homes at 1107 E Cota St were constructed in 1999, while 1111 E Cota was originally built in the mid-1920s and substantially remodeled in 1999. See ''more'' Each residence features its own laundry room, exclusive outdoor living space, and separate utility metering, providing privacy and operational efficiency similar to single-family homes. Additionally, 1111 E Cota St includes a lower-level room of 327± SF adjacent to a 480 SF two-car garage, creating the potential to combine the spaces into an 800± SF 2BD ADU, further enhancing rental income and property value. Originally designed and built to be condominiums, this offering presents a rare opportunity for owner-occupants, apartment investors, 1031 exchange buyers, and employee housing buyers, as well as value-add investors pursuing ADU development and/or potential condominium conversion.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 8,853 | 2,568 | 89% |
| Lot Size | 21,780 | 4,791.6 | 89% |
| Price | $6.50M | $3.00M | 89% |
| Price per sq ft | $734 | $942 | 33% |
| Built year | 1999 | 1923 | 89% |
| HOA | $0 | $0 | 50% |
| Days on market | 8 | 170 | 11% |
Apr 14, 2026
$6,500,000
Initial Listing
Aug 31, 2022
$3,250,000
Public Record
Jul 15, 2011
$1,200,000
Public Record