1416 Bath, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - bed, bath
ACTIVE$4,950,000$5,555/sqft
1416 Bath, SANTA BARBARA, CA 93101
0Bed
0Bath
5,555Sqft
10,454Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Downtown Location: Situated in a highly supply-constrained downtown Santa Barbara submarket, just two blocks from the Public Market and minutes from the Theatre District, ensuring consistent tenant demand and desirability.
Top Cons:
Historic Building Age: Built in 1893, the property's age may present potential for unforeseen maintenance issues, outdated infrastructure, or restrictions related to historical preservation.
Compared to the nearby listings
Price:$4.95M vs avg $1.77M (+$3,175,000)94%
Size:5,555 sqft vs avg 1,690 sqft81%
Price/sqft:$891 vs avg $62469%
More Insights
Built in 1893 (133 years old).
Condition: Despite the 1893 build year, the property has undergone extensive and recent renovations, as indicated by the 'meaningfully repositioned' description and evident in the images. The kitchens feature modern white shaker cabinets, stainless steel appliances, subway tile backsplashes, and contemporary countertops. Bathrooms are similarly updated with new vanities, modern fixtures, subway tile showers, and stylish patterned floor tiles. Flooring throughout the units is a mix of new hardwood and modern wood-look laminate. All visible components, including lighting and mini-split cooling/heating systems, appear new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
1893
Close
-
List price
$4.95M
Original List price
-
Price/Sqft
$891
HOA
$0
Days on market
-
Sold On
-
MLS number
26-66
Home ConditionExcellent
Features
Good View:
View-
About this home
Bath Street Flats is a boutique multifamily investment located in one of Santa Barbara's most supply-constrained downtown submarkets, offering hands-off ownership and durable cash flow. Situated just two blocks from the Santa Barbara Public Market and minutes from the Theatre District, the property benefits from consistent tenant demand, strong rental performance, and full occupancy. The asset has been meaningfully repositioned, allowing a new owner to step into a fully stabilized investment with limited near-term capital exposure and current income of $30,250 per month. With high barriers to entry and limited turnover, the property is ideally suited for a 1031 exchange buyer, private investor, or family office seeking stable income and long-term capital preservation in Santa Barbara.
J
Jonathan Standring
Listing Agent
Price History
Date
Event
Price
09/08/17
Sold
$2,340,000
Condition Rating
Excellent
Despite the 1893 build year, the property has undergone extensive and recent renovations, as indicated by the 'meaningfully repositioned' description and evident in the images. The kitchens feature modern white shaker cabinets, stainless steel appliances, subway tile backsplashes, and contemporary countertops. Bathrooms are similarly updated with new vanities, modern fixtures, subway tile showers, and stylish patterned floor tiles. Flooring throughout the units is a mix of new hardwood and modern wood-look laminate. All visible components, including lighting and mini-split cooling/heating systems, appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons
Pros
Prime Downtown Location: Situated in a highly supply-constrained downtown Santa Barbara submarket, just two blocks from the Public Market and minutes from the Theatre District, ensuring consistent tenant demand and desirability.
Strong & Stable Income: Benefits from consistent tenant demand, strong rental performance, and full occupancy, generating a current income of $30,250 per month, indicating a reliable cash flow.
Turnkey Investment: The asset has been meaningfully repositioned and is fully stabilized, offering a new owner limited near-term capital exposure and immediate income generation.
High Barriers to Entry Market: Located in a market characterized by high barriers to entry and limited turnover, which contributes to long-term capital preservation and market resilience.
Targeted Investor Appeal: Ideally suited for sophisticated investors such as 1031 exchange buyers, private investors, or family offices seeking stable income and long-term capital preservation.
Cons
Historic Building Age: Built in 1893, the property's age may present potential for unforeseen maintenance issues, outdated infrastructure, or restrictions related to historical preservation.
Significant Price Appreciation: The current list price of $4.95M represents a substantial increase from its previous sale price of $2.34M in 2017, which may lead to a lower cap rate or limit immediate appreciation potential for some investors.
Limited Value-Add Opportunity: As a 'fully stabilized' and 'meaningfully repositioned' asset, opportunities for a new owner to significantly increase value through further renovations or operational improvements may be limited.