316 W Valerio Street, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - bed, bath
ACTIVE$3,588,888/sqft
316 W Valerio Street, SANTA BARBARA, CA 93101
0Bed
0Bath
Sqft
12,196.8Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High-Value Investment: An 8-unit residential income property in the highly sought-after Santa Barbara market, offering significant investment potential.
Top Cons:
Limited Unit Diversity: The property consists primarily of 7 one-bedroom units, which may restrict the tenant pool and potential for diverse rental income streams.
Compared to the nearby listings
Price:$3.59M vs avg $1.77M (+$1,813,888)81%
Size: sqft vs avg 1,612.5 sqft38%
Price/sqft:$0 vs avg $57144%
More Insights
Built in 1973 (53 years old).
Condition: Despite being built in 1973, the property's units appear well-maintained and updated. The kitchens feature modern white shaker-style cabinets, white countertops, and functional white appliances. Bathrooms are also updated with white vanities and clean fixtures. Consistent wood-look flooring throughout the living areas and bedrooms contributes to a fresh, move-in ready condition, aligning with a property extensively renovated within the last 5-15 years.
Year Built
1973
Close
-
List price
$3.59M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
25-3551
Home ConditionGood
Features
Good View:
Deck
Patio
View-
About this home
Situated down a long driveway lies this well maintained and updated 8 unit investment opportunity in the heart of Santa Barbara. 7 one bedroom apartments, and 1 two bedroom with private balconies and large outdoor patios. On site laundry and 16 parking spaces. Close to everything Santa Barbara has to offer.
J
Jason Siemens
Listing Agent
Price History
Date
Event
Price
01/08/24
Sold
$3,288,000
11/14/18
Sold
$2,775,000
06/16/17
Sold
$2,350,000
Condition Rating
Good
Despite being built in 1973, the property's units appear well-maintained and updated. The kitchens feature modern white shaker-style cabinets, white countertops, and functional white appliances. Bathrooms are also updated with white vanities and clean fixtures. Consistent wood-look flooring throughout the living areas and bedrooms contributes to a fresh, move-in ready condition, aligning with a property extensively renovated within the last 5-15 years.
Pros & Cons
Pros
High-Value Investment: An 8-unit residential income property in the highly sought-after Santa Barbara market, offering significant investment potential.
Prime Central Location: Situated in the heart of Santa Barbara, providing tenants with convenient access to local amenities, attractions, and services.
Well-Maintained & Updated: The property is described as well-maintained and updated, suggesting reduced immediate capital expenditure for a new owner.
Robust Tenant Amenities: Features include on-site laundry facilities and a generous 16 parking spaces, significantly enhancing tenant convenience and property appeal.
Enhanced Unit Appeal: Units boast private balconies and large outdoor patios, adding desirable living space and potential for higher rental rates.
Cons
Limited Unit Diversity: The property consists primarily of 7 one-bedroom units, which may restrict the tenant pool and potential for diverse rental income streams.
Property Age: Built in 1973, the property is over 50 years old, which could lead to increased long-term maintenance and capital expenditure requirements despite recent updates.
Significant Price Increase: The current list price of $3.588M is a substantial increase from its last sale in January 2024 ($3.288M), potentially indicating an aggressive valuation or higher market risk for investors.