4817 San Gordiano Avenue, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - bed, bath
ACTIVE$2,500,000$3,928/sqft
4817 San Gordiano Avenue, SANTA BARBARA, CA 93111
0Bed
0Bath
3,928Sqft
8,276Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Santa Barbara Location: Strategically located in Santa Barbara with excellent freeway access (US 101), proximity to downtown, retail, restaurants, parks, and San Marcos High School, ensuring strong tenant demand.
Top Cons:
Property Age and Potential for Updates: Built in 1964, the property is 60 years old, which may imply aging systems and interiors that could require capital investment for modernization to maximize rental income.
Compared to the nearby listings
Price:$2.50M vs avg $2.08M (+$417,500)50%
Size:3,928 sqft vs avg 3,214 sqft50%
Price/sqft:$636 vs avg $65150%
More Insights
Built in 1964 (62 years old).
Condition: Built in 1964, the property is aged but appears well-maintained. While some units feature updated flooring (laminate/LVP) and a bathroom shows a more modern vanity, the kitchens generally present with older white cabinetry, laminate countertops, and a mix of white and stainless steel appliances, indicating they are functional but dated. The overall aesthetic suggests regular upkeep and some minor updates over the years, but not a comprehensive recent renovation. The property requires minor cosmetic updates to modernize the interiors and maximize rental income, aligning with the 'Fair' condition criteria.
Year Built
1964
Close
-
List price
$2.5M
Original List price
-
Price/Sqft
$636
HOA
$0
Days on market
-
Sold On
-
MLS number
25-3653
Home ConditionFair
Features
View-
About this home
Prime Santa Barbara 4-Unit Multifamily Investment Opportunity This well-maintained 4-unit multifamily property is ideally located just off Turnpike Road, offering quick access to the US 101 Freeway and only minutes from downtown Santa Barbara. Its central location places residents near retail shopping, restaurants, parks, and just a short walk from San Marcos High School — ensuring a strong and stable tenant base. Not subject to City Rental Rules Situated on an approximately 8,776 SF lot, the property features a 3,560 SF building with a highly desirable unit mix: (1) 1BD/1BA, (2) 2BD/1BA, and (1) 3BD/2BA. Each unit includes one dedicated covered parking space, adding to tenant appeal and convenience. With significant upside potential through rent growth or light improvements.
J
Joel Butera
Listing Agent
Price History
Date
Event
Price
06/30/99
Sold
$660,000
Condition Rating
Fair
Built in 1964, the property is aged but appears well-maintained. While some units feature updated flooring (laminate/LVP) and a bathroom shows a more modern vanity, the kitchens generally present with older white cabinetry, laminate countertops, and a mix of white and stainless steel appliances, indicating they are functional but dated. The overall aesthetic suggests regular upkeep and some minor updates over the years, but not a comprehensive recent renovation. The property requires minor cosmetic updates to modernize the interiors and maximize rental income, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Prime Santa Barbara Location: Strategically located in Santa Barbara with excellent freeway access (US 101), proximity to downtown, retail, restaurants, parks, and San Marcos High School, ensuring strong tenant demand.
Exemption from City Rental Rules: Not subject to restrictive city rental rules, offering investors greater flexibility in rent adjustments and property management, enhancing potential returns.
Diversified 4-Unit Income Stream: A well-maintained 4-unit multifamily property provides diversified income streams, reducing vacancy risk and offering a stable investment in a desirable market.
Desirable Unit Mix & Covered Parking: Features a highly desirable unit mix (1BD, 2BD, 3BD) catering to various tenant needs, complemented by dedicated covered parking for each unit, a significant tenant amenity.
Clear Upside Potential: Explicitly offers significant upside potential through rent growth and light improvements, allowing for future value appreciation and increased cash flow.
Cons
Property Age and Potential for Updates: Built in 1964, the property is 60 years old, which may imply aging systems and interiors that could require capital investment for modernization to maximize rental income.
Immediate Capital Expenditure for Optimization: While offering upside potential, realizing full rent growth and value appreciation will likely require immediate capital expenditure for the suggested 'light improvements'.
Lack of Specific Modern Amenities Highlighted: The description, while noting 'well-maintained,' does not highlight specific modern updates or amenities, suggesting units may be dated and require renovation to compete with newer properties.