308 W De La Guerra Street, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 0 bed, 0 bath
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SANTA BARBARA, CA 93101
This four-unit property presents a High-Potential Investment Opportunity with a List Price of $1,995,000—positioned well below the $2,070,065 Fair Market Value by 3%. This valuation gap offers $75,065 in Instant Equity. Featuring a Condition Rating of 3, the asset provides immediate cash flow with three recently refreshed units and a strategic value-add opportunity in the fourth. Located in a prime downtown rental market, this is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking stable, income-generating real estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 308 W De La Guerra Street Subject | $1,995,000* List Price | 0 | 0 | 2,012 | $1,029 | - |
A 1111-1113 Olive Street Sold | $1,805,000 | 0 | 0 | 0 | 0.9 mi | |
B 532 Brinkerhoff Avenue Pending | $2,195,000 List Price | 0 | 0 | 1,967 | $1,116 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1940, the property has been well-maintained with recent refreshes to three of the four units. Exterior paint, landscaping, and electrical panels appear updated and functional. Interior photos show modern flooring and finishes, making the units move-in ready and consistent with a 5-15 year renovation cycle.
Situated in a highly sought-after rental market just moments from downtown Santa Barbara, ensuring consistent tenant demand and long-term appreciation.
The property consists of four fully leased units, providing the investor with instant rental income and established stability from the date of purchase.
While three units have been recently refreshed, the fourth unit offers a strategic opportunity for renovation to further increase the property's gross rent multiplier and overall value.
The compact 2,178 SF lot provides minimal outdoor space and lacks dedicated on-site parking, which may be a competitive disadvantage for some prospective tenants.
Originally built in 1940, the property may require more intensive maintenance and capital expenditures for aging mechanical, electrical, or plumbing systems compared to modern builds.
Tucked along a quiet street just moments from downtown Santa Barbara, this charming four-unit property blends classic character with strong income fundamentals. The approximately 2,012 SF building consists of four spacious one-bedroom, one-bath residences, each just over 500 SF. All units are currently leased offering immediate cash flow in a highly sought-after rental location. Recent upgrades enhance the property's appeal, including recently refreshed upper units and a previously refreshed lower unit, while the fourth unit provides an opportunity for future improvement and added value. Residents benefit from a welcoming communal pergola area, on-site laundry, outdoor storage lockers for each unit, basement storage for bikes and beach gear, and thoughtfully maintained landscaping. With its unbeatable location near Paso Nuevo, dining, shopping, and entertainment are moments away from your door. This property presents a compelling opportunity for investors seeking both stability and upside.
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 | 2,012 | 2,708 | 36% |
| Lot Size | 2,178 | 10,890 | 9% |
| Price | $2.00M | $2.79M | 18% |
| Price per sq ft | $992 | $583 | 55% |
| Built year | 1940 | 1950 | 45% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 215 | 9% |
May 15, 2026
$1,995,000
Initial Listing
Mar 8, 2022
$1,730,000
Public Record