$2,799,000
1231 E Mason Street
SANTA BARBARA, CA 93103
MLS# 23-230
6 beds  |  4 baths
1231 E Mason Street, SANTA BARBARA, CA 93103
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Property Description
Exceptional trophy investment of 3 newly remodeled cottages. Rarely do you find a turn-key investment like this one with large upside potential. Perfect for an owner/user or a 1031 buyer looking for an add-value play. The big upside is the plans pending for two additional cottages(ADUs) with market rents at $4,500 for each additional cottage. The existing three cottages(all leases month-to-month) 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: Street
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
Affordable Housing: No
Begin Date: 2023-01-31
Status: Active
Property Information
TYP: Home/Estate
Total Bedrooms: 6
Total Bathrooms: 4
Total Full Baths: 4
Year Built: 1925
Source: Other/See Remarks
Apx # Acres: 0.43
ADU: No
Within City Limits: Yes
Total #Units: 3
Recurring Fees: No
Neighborhood/Schools
Elementary School: Franklin
Junior High School: S.B. Jr.
High School: S.B. Sr.
Remarks
Hot Sheet Comment: new
Geo Lat: 34.426861
Geo Lon: -119.676208
Owner Info
Deposit: 3
Parking/Garage
Total # Uncovered Spaces: 14
Property Features
Condition: Excellent
Style: Cal. Cottage
Construction: Single Story
Roof: Composition
Foundation: Raised
Exterior: Stucco
Parking/Garage: Gar #2; RV; Boat
View: Mountain(s); Setting
Location/Topo: Level
Proximity: Near Bus; Near Park(s); Near School(s); Near Shopping; Restaurants
Heating/Cooling: Wall
Water/Sewer: S.B. Wtr
Zoning: R-2
Terms: Cash; Ctnl
Supplements
The back two cottages are leased at $3,400 per month(market rent $3,900) with single-car garages, no shared walls, and large private backyards. This unique investment rests on an oversized lot(.43 acres) along Sycamore Creek with a community garden in the rear. Surely not one to be missed with close access to the 101 freeway and East Beach.

Listing Office: Big Block Realty, Inc.

Last Updated: February - 12 - 2023

1231 E Mason Street, SANTA BARBARA, CA 93103 - MLS# 23-230

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