222 S Salinas St — Sale in Santa Barbara, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Santa Barbara, CA 93103

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Investment Figures

Cap rate
5.14%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The subject property is a 3-unit apartment building located in the Montecito area of Santa Barbara. One mile east of the 101 Freeway, and just south of the Coast Village shopping area and the Montecito Country Club and one and a half miles to the beach. The unit mix consists of 2-three-bedroom units and a 1-Two-Bedroom two bath unit. All units are separately metered for gas and electricity. There are no public records regarding the year built or the square footage of the building. The year built and the square footage has been estimated in this marketing package. Buyer to do their own investigation regarding the year built and the square footage of the building. Building improvements: Unit A has been completely remodeled including a new kitchen with appliances in August 2018. Plus, a new patio was installed in the front yard of Unit A in May of 2022 Unit B had new concrete work completed at their front door in March 2024. A new sump pump + concrete work + a new drainage line was installed to the west side of the property to improve the exterior drainage in March of 2026. On-site parking consists of a carport for 5 cars plus open parking spaces for additional parking spaces on the premises. There is a common laundry room for the use of all tenants. Financing: There is an existing loan with Chase bank in the approximate amount of $723,045 which is assumable. Starting in October 2026 the interest rate will be 7% and the monthly payment will be $4217.76 Investment Highlights: • - • - • -

Market Context

This multifamily in Santa Barbara, CA is listed for sale. It is offered at an approximate 5.1% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Santa Barbara, CA — view the full market.

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