20 80 Oceano AVE, Santa Barbara, CA 93109 – V1-25281

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$25,000,000

Est. payment - /mo

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0.89 Acres Lot

Pending

20 80 Oceano AVE Santa Barbara, CA 93109

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Michelle M Randazzo

michellesells@rpnevada.com +1(702) 412-1049

UPDATED:

12/05/2024 03:45 AM

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Subdivision Santa Barbara: Other

MLS Listing ID V1-25281

HOA Y/N No

Year Built 1970

Lot Size 0.890 Acres

Property Description

Nestled in the vibrant and picturesque Mesa neighborhood of Santa Barbara, Sea Cliff Apartments offers a unique and highly coveted investment opportunity. This expansive oceanfront property, comprising 29 meticulously designed units, is just steps away from the pristine sands of Leadbetter Beach, seamlessly combining high rental demand with luxurious lifestyle amenities. Each residence is thoughtfully crafted to optimize space and rental potential, nine of them are short term vacation rentals, which are equipped with top-tier amenities. Select units boast private balconies -- some with hot tubs -- providing tenants with exclusive comfort and leisure.Monthly Long Term Tenant Income: $73,858Estimated Monthly Vacation Rental Income: $72,000 TOTAL: $145,858/month; $1,750,296/annualThe complex also includes a stunning oceanfront rooftop deck, perfect for events and social gatherings, enhancing its allure as a desirable living destination.Strategically positioned within walking distance to an array of restaurants, shopping centers, and entertainment venues, Sea Cliff Apartments offers tenants unparalleled access to the finest coastal lifestyle Santa Barbara has to offer. This blend of convenience, luxury, and prime location makes Sea Cliff Apartments a standout investment in the thriving beachfront community of The Mesa.

Location

State CA

County Santa Barbara

Area Vc81 - Santa Barbara

Interior

Heating Radiant

Cooling None

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Attached Carport, Assigned, Covered, Underground

Fence None

Pool None

Community Features Suburban

View Y/N Yes

Total Parking Spaces 39

Private Pool No

Building

Lot Description Sprinklers None

Story Multi/Split

Entry Level Multi/Split

Level or Stories Multi/Split

Others

Senior Community No

Tax ID 045230028

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Steven Golis • Radius Group Commercial RE • sgolis@radiusgroup.com

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Michelle M Randazzo

REALTOR® | RE.0196837

+1(702) 412-1049

20 80 Oceano AVE Santa Barbara, CA 93109

Michelle M Randazzo

Key Details

Location

Interior

Exterior

Building

Others

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20 80 Oceano AVE