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, 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.
Property Details
Property Features
Property Information:
Stories: 2
Living Area: 7,088 SqFt
Listing Office:
Office Name: Keller Williams Realty Santa Barbara
Office Phone: (805) 456-3600
Listing Agent: Stephen Epstein
Interior Features
Interior Information:
Appliances: Refrigerator
Exterior Features
Parking Information:
Parking: Uncovered
Lot Features
Lot Information:
Lot Size: 0.37 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: None
Other
Directions Information:
Directions: Exit HWY 101 N at Mission St, right on Mission St, right on Castillo St, right on W Islay St.
Price Information
Listing Price Info
Price Summary:
List Price: $6,995,000
Price Per SqFt: $987/SqFt
Tax Information:
Annual Amount: $5,187
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Santa Barbara, CA.
This property is $4.8M more than the Median Sold Price and $254/SqFt less than other homes in Santa Barbara, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24435575
Listing Office:
Office Name: Keller Williams Realty Santa Barbara
Office Phone: (805) 456-3600
Listing Agent: Stephen Epstein
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/10/2024, 2:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$5,187
$489,093
2020
$5,187
$472,202
2019
$5,029
$462,944
2018
$5,029
$453,867
2017
$4,866
$444,968
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Harding University Partnership School
1625 Robbins St
Distance between this listing and this school0.56 miles
Public District Grades PK-6
5
/10
Santa Barbara Community Academy
850 Portesuello Ave
Distance between this listing and this school0.62 miles
Public District Grades KG-6
7
/10
Roosevelt Elementary School
1990 Laguna St
Distance between this listing and this school0.97 miles
Public District Grades KG-6
Nearby Schools
4
/10
La Cumbre Junior High School
2255 Modoc Rd
Distance between this listing and this school0.63 miles
Public District Grades 7-8
3
/10
Santa Barbara Junior High School
721 E Cota St
Distance between this listing and this school1.63 miles
Public District Grades 7-8
7
/10
La Colina Junior High School
4025 Foothill Rd
Distance between this listing and this school2.85 miles
Public District Grades 7-8
Nearby Schools
1
/10
La Cuesta Continuation High School
710 Santa Barbara St
Distance between this listing and this school1.22 miles
Public District Grades 9-12
5
/10
Alta Vista Alternative High School
215 E Ortega St
Distance between this listing and this school1.23 miles
Public District Grades 9-12
6
/10
Santa Barbara High School
700 E Anapamu St
Distance between this listing and this school1.36 miles
The neighbors living near this home have an average income of $46,425. The most common annual income of people living in Santa Barbara, CA is between $35k-100k. Residents typically live in single, no kids family. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 427 W Islay St
What is the listing price of this property?
The listing price of 427 W Islay St property is $6,995,000.
What type of property is this?
The property 427 W Islay St is a house located in Santa Barbara, California, 93101.
Is this property for sale now?
Sale Pending: 427 W Islay St is Sale Pending (Pending), which means that the seller has accepted an offer but the sale is not finalized.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $5,187 (source: MLS/based on county public records data).
How many bedrooms and bathrooms does this property have?
The property at 427 W Islay St has 22 bathrooms..
What is the square footage of this property?
The property 427 W Islay St is 7,088 SqFt (source: MLS/tax record).
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This home is located at 427 W Islay St in Santa Barbara, CA and zip code 93101 in the Downtown neighborhood. This 7,088 square foot home sits on a 0.37 acre lot. Features: 22 bathrooms. It has been listed on Rocket Homes since September 09, 2024 and is currently priced at $6,995,000.
Santa Barbara, CA housing market in October 2024 saw over 20 listings sold above listed price, more than 10 sold at listed price and over 56 sold below. Between September 2024 and October 2024, Santa Barbara, CA real estate market has seen increase in the number of listings by 7%. Listings spent 43 days on the market in October 2024, and had a median list price of $2,129,415 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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