1215 Cacique Street

Santa Barbara, CA 93103

  • 20 Bed(s)
  • 0 Bath(s)
  • 11,300 Sqft
  • 29185
    Sqft(Lot)
$7,900,000

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.

  • Property Type

    Residential Income

  • County

    Santa Barbara

  • Style

    Residential Income

  • AD ID

    48758816

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Property Details

  • Bedroom Information

    • Total Bedrooms : 20

    Bathroom Information

    • Total Baths: 16
    • Full Baths: 0
    • Half Baths: 0

  • Building Information

    • Year Built: 1989
    • Building Area Total: 11,300

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.67
    • Lot Size Source: Vendor Enhanced
    • Lot Size Square Feet: 29185

  • Listing Price Information

    • Original List Price: 7,900,000
    • Listing Contract Date: 2025-02-27

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 017222020

  • Garage and Parking

    • Garage Description: Covered,Uncovered

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: VC81 - Santa Barbara
    • Directions: Cacique St & S Canada St
    • Zoning: R-3
    • Source Property Type: Residential Income
    • Area: VC81 - Santa Barbara

    Building and Construction

    • Property Age: 36
    • Year Built Source: Assessor
    • Total Square Feet Living: 11300
    • Levels or Stories: Multi/Split
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BuyOwner last updated this listing 03/31/2025 @ 20:31

  • MLS: 25504073
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 20 bedrooms which is for sale, it has 11,300 sqft, 29,185 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Santa Barbara , in zip code 93103, this Santa Barbara County Home are nearby neighborhoods.