1825 Chapala, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - bed, bath
ACTIVE$12,495,000$13,408/sqft
1825 Chapala, SANTA BARBARA, CA 93101
0Bed
0Bath
13,408Sqft
28,750Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Location: Situated in Santa Barbara's desirable Oak Park neighborhood, offering unparalleled convenience to Cottage Hospital, State Street, shopping, dining, and entertainment.
Top Cons:
Compact Unit Sizes: Units are junior 1BD/1BA, approximately 300-330 SF, which may limit the tenant demographic and potential rental income compared to larger units.
Compared to the nearby listings
Price:$12.49M vs avg $1.77M (+$10,720,000)94%
Size:13,408 sqft vs avg 1,690 sqft94%
Price/sqft:$932 vs avg $62469%
More Insights
Built in 1966 (60 years old).
Condition: The property, built in 1966, has undergone significant recent renovations that elevate its condition. New roofs were installed in 2023, and parking is being resurfaced in 2025, addressing major exterior components. Crucially, 'many' units have been updated with modern features such as quartz counters, new cabinets, LVP flooring, and newer windows, indicating a move-in ready state for a substantial portion of the units. While the underlying structure is older, these extensive and recent updates, particularly in kitchens and bathrooms (implied by new counters and cabinets), along with the well-maintained exterior and modern laundry facilities (seen in images), align with the 'Good' criteria of being extensively renovated within 5-15 years and having well-maintained systems. The lack of interior photos for all units prevents an 'Excellent' rating, as does the property's original build year, which suggests potential for unseen infrastructure wear despite recent upgrades.
Year Built
1966
Close
-
List price
$12.49M
Original List price
-
Price/Sqft
$932
HOA
$0
Days on market
-
Sold On
-
MLS number
25-3981
Home ConditionGood
Features
Good View:
Patio
View-
About this home
1st time on the market in decades! 1825 Chapala Street is a 40unit multifamily property in Santa Barbara's desirable Oak Park neighborhood. Ideally located just blocks from Cottage Hospital, State Street, shopping, dining, and entertainment, it offers residents exceptional convenience in a quiet residential setting. The property includes three well-maintained buildings with junior 1BD/1BA units, approx. 300-330 SF, featuring open layouts, full kitchens, and private baths; several units have patios or fenced yards. Many have been updated with quartz counters, new cabinets, LVP flooring, and newer windows. Recent upgrades include new roofs (2023) and resurfaced/re-striped parking (2025). With strong income, rent upside, and a prime location, 1825 Chapala is a standout value add opportunity.
S
Steven Golis
Listing Agent
Condition Rating
Good
The property, built in 1966, has undergone significant recent renovations that elevate its condition. New roofs were installed in 2023, and parking is being resurfaced in 2025, addressing major exterior components. Crucially, 'many' units have been updated with modern features such as quartz counters, new cabinets, LVP flooring, and newer windows, indicating a move-in ready state for a substantial portion of the units. While the underlying structure is older, these extensive and recent updates, particularly in kitchens and bathrooms (implied by new counters and cabinets), along with the well-maintained exterior and modern laundry facilities (seen in images), align with the 'Good' criteria of being extensively renovated within 5-15 years and having well-maintained systems. The lack of interior photos for all units prevents an 'Excellent' rating, as does the property's original build year, which suggests potential for unseen infrastructure wear despite recent upgrades.
Pros & Cons
Pros
Exceptional Location: Situated in Santa Barbara's desirable Oak Park neighborhood, offering unparalleled convenience to Cottage Hospital, State Street, shopping, dining, and entertainment.
Significant Capital Improvements: Recent upgrades include new roofs (2023) and resurfaced/re-striped parking (2025), reducing immediate capital expenditure for a new owner.
Strong Value-Add Potential: Identified as a 'standout value add opportunity' with existing strong income and clear rent upside, appealing to investors seeking growth.
Updated Unit Interiors: Many units feature modern updates such as quartz counters, new cabinets, LVP flooring, and newer windows, enhancing tenant appeal and rentability.
High Unit Density: A 40-unit multifamily property provides substantial scale and diversification for an investment portfolio.
Cons
Compact Unit Sizes: Units are junior 1BD/1BA, approximately 300-330 SF, which may limit the tenant demographic and potential rental income compared to larger units.
Property Age: Built in 1966, the property's age suggests potential for unseen infrastructure wear (e.g., plumbing, electrical systems) that could require future investment beyond recent cosmetic and roof/parking upgrades.
Limited Amenity Information: The description does not detail common area amenities beyond individual unit features, which could be a competitive disadvantage in attracting and retaining tenants in a modern market.