$6,500,000

427 W Islay Street, SANTA BARBARA CA, 93101

Price per sqftN/A

Built in1968

Property typeResidential

Courtesy of Steve Epstein, Keller Williams Realty Santa Barbara

Overview

Sold

Closed

Listed Sep 9, 2024

Updated Jun 10

22 Units in the Heart of Santa Barbara. This is an incredible investment opportunity, ideally situated to take advantage of the city's robust rental market. This property features a mix of 1-bedroom, 1-bathroom apartments and cozy studios. A convenient common laundry facility adds to the property's appeal for tenants. Recent upgrades too numerous to mention. Ample off-street parking. Priced to deliver a cap rate of over 5 percent, this investment offers both strong cash flow and potential for long-term appreciation. With its prime location near Cottage Hospital and the entire medical district, residents will enjoy easy access to Santa Barbara's dining, shopping, and entertainment, making this property a standout addition to any investor's portfolio.

Additional information

MLS^® ID: 24-2981

Interior Features

Bedrooms: 1
Bathrooms: 2
Basement: No

Exterior Features

Lot Size: 0.37 Acres

Also listed on CRMLS and NSBCRMLS

Listed by Keller Williams Realty Santa Barbara, Steve Epstein,
Listing Contact: [email protected]

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Data last updated 7:08 PM UTC, 6/10/2026