5387 8th Street Apt 1-4, CARPINTERIA, CA 93013, CARPINTERIA, 93013 - 4 bed, 4 bath
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CARPINTERIA, CA 93013
This Carpinteria fourplex represents a Strong Value Opportunity, listed at $2,050,000—positioned above the $1,864,874 Fair Market Value. Despite the premium, the property features a Condition Rating of 3, bolstered by a 2025 seismic foundation retrofit and recent utility upgrades. With Unit C delivered vacant, this asset offers immediate flexibility for an Owner-Occupant to house-hack while generating rental income. The detached garage and carport provide significant ADU conversion potential, making this a strategic acquisition for Buy-and-Hold Investors seeking long-term growth in a supply-constrained coastal market.
Carpinteria fourplex for sale. Features 2025 seismic retrofit, vacant unit for owner-occupant, and ADU potential. Prime coastal investment in 93013.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5387 8th Street Apt 1-4 Subject | $2,050,000* List Price | 4 | 4 | 1,850 | $1,008 | - |
A 876 Elm Avenue Sold | $1,700,000 | 4 | 2 | 1,560 | $1,090 | 0.4 mi |
B 5081 Alvarado Street Sold | $1,550,000 | 4 | 2 | 1,926 | $805 | 0.9 mi |
C 1430 Linhere Drive Pending | $1,775,000 List Price | 4 | 3 | 1,794 | $989 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1930, the property features significant recent capital improvements including a 2025 foundation retrofit and 2021 electrical and tankless water heater upgrades. Select units have been refreshed within the last 5 years with new vinyl plank flooring and wall heaters, presenting a well-maintained and functional multi-family asset.
With Unit C delivered vacant, this property offers a rare opportunity for an owner-occupant to live on-site while generating supplemental income or for an investor to immediately capture market-rate rent.
The asset features critical recent upgrades including a 2025 seismic foundation retrofit, a new electrical main panel, and tankless water heaters, significantly reducing immediate deferred maintenance costs.
The detached single-car garage and carport areas provide a viable footprint for potential ADU conversions, offering a strategic pathway to increase density and maximize long-term cash flow.
Unit D is not scheduled to be vacant until July 2026, which may limit an investor's ability to immediately reposition the entire building or achieve full market-rate potential across all units.
Originally constructed in 1930, the property may require ongoing specialized maintenance and carries the inherent limitations of older architectural layouts and utility systems despite recent updates.
5387 8th Street presents a rare opportunity to acquire a centrally located Carpinteria fourplex. The property consists of (2) 1BD/1BA units and (2) studio units with a pay-per-use laundry room, carport parking accessed via a rear alley, and a detached single-car garage. Unit C, the largest one-bedroom unit, will be delivered vacant, offering an owner-occupant the flexibility to utilize the unit as a primary residence or vacation retreat while benefiting from a consistent stream of supplemental rental income, or re-tenanting in a high-demand rental market. Unit D, a studio, is scheduled to be delivered vacant on July 1, 2026. Additionally, the garage and carport areas may present potential for ADU conversion, subject to city review and approvals. The site has benefited from several recent capital improvements, including the installation of foundation retrofit plates for enhanced seismic stability in 2025, as well as a new electrical main panel and sub panel in the garage, a gas meter, and two tankless water heaters installed in 2021. Select units have been updated within the past five years with new wall heaters, vinyl plank flooring, and interior finishes. Don't miss this compelling opportunity to acquire a well-located, income-producing asset in the supply constrained coastal market of Carpinteria.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 2.0 | 78% |
| Square foot | 1,850 | 1,705 | 50% |
| Lot Size | 6,098 | 7,622.9 | 17% |
| Price | $2.05M | $1.72M | 56% |
| Price per sq ft | $1.1K | $1.3K | 39% |
| Built year | 1930 | 1958 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 168 | 6% |
Jun 4, 2026
$2,050,000
Initial Listing
Sep 24, 2021
$1,540,000
Public Record