930 Philinda Avenue, SANTA BARBARA, CA 93103, SANTA BARBARA, 93103 - bed, bath
ACTIVE$3,700,000$5,428/sqft
930 Philinda Avenue, SANTA BARBARA, CA 93103
0Bed
0Bath
5,428Sqft
15,246Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multifamily Investment: This substantial fourplex offers a diversified income stream and strong investment potential in a supply-constrained market.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 5428, other record living area = 5256.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1977 (49 years old).
Condition: The property, built in 1977, presents a mixed condition across its four units. While some units (e.g., Unit A/B) have undergone recent, modern renovations featuring updated kitchens with two-tone cabinetry, quartz countertops, stainless steel appliances, and contemporary bathrooms, other units (e.g., Unit C and D) are significantly dated. Unit C, in particular, shows older wood cabinets, tile countertops, dated appliances (except for a newer range/dishwasher), and older flooring and bathroom fixtures. Unit D has some partial updates but retains older elements. The overall property requires substantial updates and capital expenditure in the unrenovated units to meet current market standards, aligning with the 'Fair' condition criteria for an aged property with a mix of updated and outdated components.
Year Built
1977
Close
-
List price
$3.7M
Original List price
-
Price/Sqft
$682
HOA
$0
Days on market
-
Sold On
-
MLS number
25-2843
Home ConditionFair
Features
Good View:
Deck
Patio
View-
About this home
Incredible multifamily opportunity in the heart of Santa Barbara. This substantial fourplex features a desirable mix of single-level and townhouse-style residences, each offering 3 bedrooms, 2 bathrooms, a fireplace, and dedicated carport parking. Ideally situated just blocks from the Santa Barbara Bowl and moments from downtown, the property benefits from strong tenant demand and broad renter appeal. Units A, B, and C are now vacant, creating a rare opportunity to reposition for prime market-rate rents or pursue an owner-user setup, while Unit D provides immediate in-place income. An onsite laundry facility adds convenience and enhances operational efficiency. With meaningful upside potential in a supply-constrained market, this offering stands out as a compelling investment property.
K
Kevin Goodwin
Listing Agent
Price History
Date
Event
Price
03/31/05
Sold
$1,725,000
Condition Rating
Fair
The property, built in 1977, presents a mixed condition across its four units. While some units (e.g., Unit A/B) have undergone recent, modern renovations featuring updated kitchens with two-tone cabinetry, quartz countertops, stainless steel appliances, and contemporary bathrooms, other units (e.g., Unit C and D) are significantly dated. Unit C, in particular, shows older wood cabinets, tile countertops, dated appliances (except for a newer range/dishwasher), and older flooring and bathroom fixtures. Unit D has some partial updates but retains older elements. The overall property requires substantial updates and capital expenditure in the unrenovated units to meet current market standards, aligning with the 'Fair' condition criteria for an aged property with a mix of updated and outdated components.
Pros & Cons
Pros
Multifamily Investment: This substantial fourplex offers a diversified income stream and strong investment potential in a supply-constrained market.
Prime Location: Ideally situated in the heart of Santa Barbara, just blocks from the Santa Barbara Bowl and moments from downtown, ensuring strong tenant demand and broad renter appeal.
Significant Value-Add Opportunity: Three out of four units are vacant, providing a rare opportunity to reposition for prime market-rate rents or an owner-user setup, offering meaningful upside potential.
Desirable Unit Features: Each residence offers a desirable mix of 3 bedrooms, 2 bathrooms, a fireplace, and dedicated carport parking, enhancing renter appeal.
On-site Amenities: An onsite laundry facility and dedicated carport parking add convenience for tenants and enhance operational efficiency for the owner.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 5428, other record living area = 5256.
Age of Property: Built in 1977, the property may require significant capital expenditure for updates and renovations to modernize units and systems to achieve 'prime market-rate rents'.
High Initial Vacancy Rate: With three out of four units currently vacant, there is an immediate income gap and substantial effort will be required for lease-up and potential unit upgrades.
Capital Intensive Repositioning: Realizing the 'meaningful upside potential' will necessitate considerable investment in unit renovations and marketing to attract new tenants at premium market rates.