514 E Islay Street A&B, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 0 bed, 0 bath
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SANTA BARBARA, CA 93101
Analysis of 514 E Islay Street A&B, SANTA BARBARA, CA 93101 is currently available with a list price of $2,295,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the SANTA BARBARA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is new construction or fully renovated.
Although built in 1973, the property has undergone an extensive recent renovation that brings it to current quality standards. The interiors feature modern wood-look flooring, updated shaker-style cabinetry in the kitchens with stone countertops and subway tile backsplashes, and fully remodeled bathrooms with contemporary vanities and fixtures. The exterior and balconies have also been modernized, leaving no signs of deferred maintenance.
The property generates a robust $10,000 per month in gross rent from both units, offering immediate cash flow and a strong cap rate for the Santa Barbara market.
Situated in the highly desirable Riviera/Lower area, the property is minutes from downtown, the beach, and the Santa Barbara County Bowl, ensuring high tenant demand.
Both units have been beautifully renovated with modern kitchens, sparkling bathrooms, and open living spaces, reducing the need for immediate capital improvements.
The property utilizes carports rather than fully enclosed garages, which may be a drawback for tenants seeking higher security or protected storage for vehicles.
At approximately 980 square feet per two-bedroom unit, the living space is relatively compact, which could limit appeal for families or those requiring more interior volume.
While the interiors are renovated, the 1973 construction date suggests that core structural or utility components may be older compared to modern builds.
Quality & Prime Location Santa Barbara Duplex with views! Both Units are currently occupied with $10,000/mo. gross rents! Beautifully renovated, single level, 2 beds/1 1/2 baths & approx. 980 sqft each. Filled with natural light on an elevated & sunny exposure, with city views & ocean peeks. Each unit boasts open living space, dining nook, remodeled kitchen & sparkling bathrooms. Large balconies offer outdoor relaxing & entertaining space. Each unit sits above separate carports & their own laundry & storage rooms. The following appliances are included for each unit: washer, dryer, dishwasher, stove and refrigerator. Close to downtown Santa Barbara and a short drive to the beach & the renowned County Bowl!
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 | - | 2,527 | 24% |
| Lot Size | - | 10,018.8 | 6% |
| Price | $2.29M | $2.75M | 29% |
| Price per sq ft | $0 | $583 | 24% |
| Built year | 1973 | 1961 | 59% |
| HOA | $0 | $0 | 50% |
| Days on market | 392 | 232 | 71% |
Mar 26, 2025
$2,295,000
Initial Listing