CA > Santa Barbara
Santa Barbara, CA 93103,1215 Cacique Street
Santa Barbara, CA 93103,1215 Cacique Street
Santa Barbara, CA 93103,1215 Cacique Street
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$8,250,000
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11,300 SqFt
Active

1215 Cacique Street Santa Barbara, CA 93103

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Disen Cai

Disen Cai

Keller Williams Peninsula Estates

+1(650) 622-2156

UPDATED:

03/07/2025 01:52 PM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 11,300 sqft

Price per Sqft $730

MLS Listing ID CL25504073

HOA Y/N No

Year Built 1989

Lot Size 0.670 Acres

Acres 0.67

Property Sub-Type Other

Property Description

We are pleased to present Sycamore Creek Apartments, an 18-unit multifamily investment opportunity in Santa Barbara, CA.Situated on a 29,185 SF lot (0.67 acres), the property consists of three buildings with 16 one-bedroom units (~550 SF each), a two-bedroom apartment (~950 SF), and a standalone two-bedroom house with a den (~1,100 SF).A highly attractive assumable Chase Bank loan is in place, featuring a 4.80% fixed interest rate through August 2027 and an outstanding balance of ~$4 million (~50% LTV). This provides investors with below-market financing in a high-interest rate environment.The property has undergone over $500,000 in capital improvements (2022-2025), including new roofs, a repaved parking lot, brand-new sewer laterals, exterior repainting, and SB 721-compliant balcony replacements. With minimal deferred maintenance, an investor can focus on maximizing rents and long-term appreciation.Sycamore Creek Apartments offers 10%+ rental upside with no local rent controlonly subject to California's AB 1482 (currently allowing ~8.5% annual rent increases). Additionally, the large lot provides the opportunity to develop two detached ADUs, further enhancing income potential.With strong rental upside, assumable financing, and a supply-constrained location, Sycamore Creek Apartm

Location

State CA

County Santa Barbara

Zoning R-3

Interior

Fireplace No

Building

New Construction No

Others

Tax ID 017222020

Bridge MLS
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Filip Niculete • Marcus & Millichap

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Disen Cai

Agent | License ID: 01928373

+1(650) 622-2156

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