1215 Cacique St #18, Santa Barbara, CA 93103

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Marcia Alves

marcia@marciabrazil.com +1(702) 300-6969

$ 8,250,000

Est. payment | -/mo

20 Beds

16 Baths

11,300 SqFt

Save

$ 8,250,000

Est. payment | -/mo

Save

20 Beds

16 Baths

11,300 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,300 sqft

Price per Sqft $730

MLS Listing ID 25504073

Bedrooms 20

Year Built 1989

Lot Size 0.670 Acres

Acres 0.67

Property Sub-Type Multi-Family

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 Apartments presents an ideal opportunity for investors seeking stable cash flow and long-term appreciation in Santa Barbara.

Location

State CA

County Santa Barbara

Area Santa Barbara

Zoning R-3

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Covered Parking, Uncovered

Garage Spaces 15.0

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

+1(702) 300-6969

marcia@marciabrazil.com

1780 W Horizon Ridge Pkwy # 100, Henderson, NV, 89012, USA

1215 Cacique St #18 Santa Barbara, CA 93103