$2,799,000
1231 E Mason St
SANTA BARBARA, CA 93103
MLS# 22-1225
6 beds  |  4 baths


1231 E Mason St, SANTA BARBARA, CA 93103
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Property Description
Exceptional trophy investment of three newly remodeled cottages with seller financing available. Rarely do you find a turn-key investment with large upside potential like this one. Perfect for an owner/user or a 1031 buyer looking for an additional value play with 2/3 leases month-to-month. The big upside is the ability to build 4 additional units on this property(plans pending for 2 units). All three cottages have been remodeled extensively with current rents grossing $10,050 per month. The front cottage(907 SF) has 2 bedrooms and 2 bathrooms with a fenced-in front yard at $3,250 per month(market rent $4,000). The tastefully updated back two cottages(941 SF each) have mirrored floor plans with 2 bedrooms and 1 bathroom.

Details
Maps
Location Info
District: 15 - SB/EAST OF STATE
Street #: 1231
Dir: E
Street Name: Mason
Street Suffix: St
State/Province: CA
Postal Code: 93103
Compass Map: Santa Barbara
Map Grid: Q12
County: Santa Barbara
Parcel Number: 017-102-002
Cross Street: Salinas
Contract Info
Current Price: $2,799,000
Price: 2799000
Buyers Agent $/%: 2.25
Affordable Housing: No
Begin Date: 2022-04-20
Status: Active
Property Information
TYP: Home/Estate
Total Bedrooms: 6
Total Bathrooms: 4
Total Full Baths: 4
Year Built: 1925
Source: Other/See Remarks
Main House SqFt: 907
Other Structures SqFt: 1882
Apx # Acres: 0.43
Apx Lot SqFt: 18730
ADU: No
Within City Limits: Yes
Total #Units: 3
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 15 - Lower Eastside
Elementary School: Franklin
Junior High School: S.B. Jr.
High School: S.B. Sr.
Remarks
Hot Sheet Comment: price
Geo Lat: 34.426861
Geo Lon: -119.676207
Owner Info
Deposit: 3
Parking/Garage
Total # Carport Spaces: 1
Total # Garage Spaces: 2
Total # Uncovered Spaces: 10
Property Features
Condition: Excellent
Construction: Single Story
Roof: Composition
Foundation: Raised
Parking/Garage: Gar #2; Cpt #1; RV; Boat
Grounds/Landscaping: Yard Irrigation PRT; Fenced: ALL
View: Mountain; Setting
Location/Topo: Level
Heating/Cooling: Elec; Wall; Ceiling Fan(s)
Water/Sewer: S.B. Wtr
Pets: Yes
Zoning: R-2
Terms: Cash; Ctnl
Supplements
The back two cottages are leased at $3,400 per month(market rent $3,900) with their own single-car garages, no shared walls, and large private back yards. This unique investment boasts a tranquil setting along Sycamore Creek and a community garden in the rear. Surely not one to be missed with close access to the 101 freeway and East Beach.

Listing Office: Omega Real Estate and Investments

Last Updated: October - 06 - 2022

1231 E Mason St, SANTA BARBARA, CA 93103 - MLS# 22-1225

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