Active
$2,900,000
10 Units
1 Beds
1 Baths
4,500 Area(sq.ft.)
Lot: 8,712 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 10 | 1 | 1 | No | $ 1,153 | $ 11,530 | $ 18,000 |
| 10 | 10 | 10 | $ 11,530 | $ 115,300 | $ 180,000 |
| MLS #: | PI25075919MR |
| Days On Market: | 241 |
| Listing Date: | April 9, 2025 |
| County: | Santa Barbara |
| Property Type: | Residential Income |
| Price per ft2: | $ 644 |
| Price per unit: | $ 290,000 |
| Year Built: | 1971 |
Property Details
This is a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking lot. The units are close to all that downtown Solvang has to offer, including restaurants, galleries, shops, and more. With over 40 percent upside in rents, this property offers the prudent investor lots of upside opportunity.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 73,620 |
| Net Operating Income: | $ 137,064 |
Structure
| Community Features: | Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
| Total Parking: | 10 |
Interior
| AC/Cooling: | None |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | Laundry Area |
Exterior
| Pool: | No |
Detailed Map
Schools
Find a great school for your child
Income
