918 Ortega StSanta Barbara, CA 93103

Property Details for 918 Ortega St

Year built

2004

Property size (Sq ft)

2,549 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional Santa Barbara duplex presents a lucrative investment opportunity or an ideal owner-occupant scenario. Built in 2004 and tastefully renovated in 2020, this Cape Cod-style property boasts two spacious 3-bedroom, 2-bathroom units, each approximately 1,200 square feet. The downstairs unit, currently rented for $5,295 per month (with market rent estimated at $5,500), features top-of-the-line appliances, in-unit laundry, a gas fireplace, and abundant natural light. The upstairs unit, with estimated market rent of $5,700, offers stunning Riviera views from its entry deck and kitchen, vaulted ceilings, and updated kitchen fixtures. Both units share a 442-square-foot, two-car garage, providing ample parking. The property sits on a 5,040-square-foot lot and is zoned R-2. The total building square footage is 2,549 square feet, per city permitting records. Utilities are shared 50/50 between tenants. The estimated gross annual rental income is $131,940. This meticulously maintained property is ready for immediate occupancy and offers significant potential for future appreciation. The APN is 031-182-003. The asking price is $2,099,000, representing $1,049,500 per unit.

Location Insight

City

Santa Barbara

County

Santa Barbara

State

California

Latitude

34.4286

Longitude

-119.687

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