
B, C, D, SANTA BARBARA, CA 93101
This Rare Multi-Unit Townhome Portfolio is a Prime Investment Opportunity, listed at $5,000,000—positioned well below the $5,208,742 Fair Market Value by 4%. This valuation gap provides $208,742 in Instant Equity for the incoming buyer. Boasting an Excellent Condition Rating, each unit features private backyards, balcony decks, and two-car garages. The separate-title structure offers a strategic advantage with potential exemptions from the California Tenant Protection Act. This turnkey asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield downtown residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1617 Chapala Street A Subject | $5,000,000* List Price | 0 | 0 | 4,868 | $1,070 | - |
A 1124 Castillo Street Sold | $3,800,000 | 0 | 0 | 3,459 | $1,099 | 0.5 mi |
B 1621 Chapala Street A Active | $5,000,000 List Price | 0 | 0 | 4,868 | $1,027 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1985, the interior images demonstrate an extensive recent renovation. The kitchen features modern shaker-style cabinetry, butcher block countertops, and new stainless steel appliances. The living spaces include updated wide-plank flooring, fresh paint, and modern fixtures, indicating the property has been fully updated within the last 5 years to meet current quality standards.
Each of the four townhomes sits on its own APN, providing the rare ability to sell units individually in the future and offering superior operational control compared to traditional multi-family assets.
The separate-title structure likely exempts the property from California’s Tenant Protection Act (AB 1482) and local rent control measures, allowing for market-rate adjustments and greater landlord flexibility.
The inclusion of private two-car garages, spacious backyards, and balcony decks for every unit is exceptionally rare in downtown Santa Barbara, driving high tenant retention and premium rental rates.
The applicability of rent control exemptions is highly fact-specific, requiring the buyer to invest in independent legal review to confirm the property's regulatory status.
While the interiors are recently renovated to excellent condition, the 1985 original construction may soon require capital improvements for major systems such as roofing or main-line plumbing.
This is a rare opportunity to acquire four (4) individually addressed townhomes in downtown Santa Barbara, California-- their first time to market since construction in 1985. Each residence is separately metered and sits on its own APN, supporting flexible ownership, operational efficiency, and full control over future disposition. See ''more'' The homes feature a highly desirable 2BD/2.5BA layout with large 2-car garages, plus rarely found outdoor living space in the form of spacious private backyards and balcony decks. The combination of privacy, parking, and outdoor space positions the property strongly for long-term rental demand and pride-of-ownership appeal. Given the Property's separate-title townhome structure, it is expected that the units may qualify as alienable separate-title residential housing and therefore are generally anticipated to be exempt from certain statewide and local tenant protec¬tion measures, including California's Tenant Protection Act (AB 1482), Santa Barbara's temporary rent increase moratorium, and select Just Cause eviction requirements.* * The applicability of any exemption is highly fact-specific and may depend on ownership structure, tenant occupancy, lease documentation, and statutory notice compliance. Accordingly, no representation or guar¬antee is made regarding regulatory status, and all buyers are encouraged to confirm applicability through independent legal review.
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 | 4,868 | 2,617.5 | 67% |
| Lot Size | - | 10,018.8 | 6% |
| Price | $5.00M | $2.79M | 94% |
| Price per sq ft | $1.0K | $624 | 61% |
| Built year | 1985 | 1956 | 72% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 232 | 6% |
Mar 16, 2026
$5,000,000
Initial Listing