1107 E Cota Street, SANTA BARBARA, CA 93103, SANTA BARBARA, 93103 - 0 bed, 0 bath
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SANTA BARBARA, CA 93103
This Multi-Unit Residential Income Asset is listed at $3,340,000, aligning closely with its $3,325,837 Fair Market Value. Featuring Three Freestanding Homes built in 1999, the property maintains a functional Condition Rating of 4 with significant Condo Conversion Potential. Located in a prime Lower Riviera Location near the Funk Zone and beaches, each 3BD/2BA unit offers private garages and separate utility metering. This complex acquisition requires a simultaneous purchase of the adjacent lot, making it a strategic high-yield play for Apartment Investors or 1031 Exchange Buyers seeking long-term coastal appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1107 E Cota Street Subject | $3,340,000* List Price | 0 | 0 | 4,394 | $757 | - |
A 1111 E Cota Street Active | $3,340,000 List Price | 0 | 0 | 4,457 | $749 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1999, the property is 26 years old and appears to retain its original construction features without significant recent renovations. While the units are well-maintained and functional, the kitchen styles, appliances, and fixtures are dated compared to modern standards, fitting the criteria for a property built over 20 years ago with no major updates.
Featuring three freestanding homes originally designed as condos, the property offers multiple exit strategies including long-term rentals, owner-occupancy, or a value-add condo conversion.
Located at the base of the Lower Riviera, the property is minutes from Downtown Santa Barbara, the Funk Zone, and local beaches, ensuring strong rental demand and appreciation.
Built in 1999, each unit includes an attached two-car garage, private laundry, and separate utility meters, minimizing management overhead and providing modern amenities.
The sale is strictly subject to the simultaneous purchase of the adjacent property at 1111 E Cota Street, which complicates the transaction and increases the total acquisition cost.
The multi-unit nature and the requirement to purchase the neighboring lot necessitate a significant financial commitment, potentially limiting the pool of qualified buyers.
Nestled at the base of Santa Barbara's famed Lower Riviera lies this exceptional investment opportunity consisting of three freestanding homes located just minutes to Downtown Santa Barbara, Santa Barbara's County Bowl, the Funk Zone, a wide arrange of shopping, and Santa Barbara's white sand beaches. Constructed in 1999, each home is a 3BD/2BA with an attached two-car garage ranging in size from 1,300 to 1,600 SF. Each home features its own laundry room, an exclusive outdoor living space, and is separately metered for all utilities. Adjacent and similar property is for sale as well at 1111 E Cota Street which is listed for the same price. Sale of 1107 E Cota Street is subject to the simultaneous sale of the adjacent property located at 1111 E Cota Street. Originally designed and built to be condominiums, this offering represents a truly unique opportunity for a wide array of buyers, including owner-occupants, apartment investors, 1031 exchange buyers, employee housing buyers, and/or value-add buyers interested in adding one accessory dwelling unit or converting the homes into individual condos. CLA for details.
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 | 4,394 | 2,568 | 89% |
| Lot Size | 10,890 | 4,791.6 | 89% |
| Price | $3.34M | $3.00M | 89% |
| Price per sq ft | $760 | $942 | 33% |
| Built year | 1999 | 1923 | 89% |
| HOA | $0 | $0 | 50% |
| Days on market | 176 | 176 | 56% |
Oct 28, 2025
$3,340,000
Initial Listing
Aug 31, 2022
$3,200,000
Public Record