2228 De la Vina St Immeuble residentiel 4 lots 1 976 065 € (494 016 €/Lot) Taux de capitalisation 5 % Santa Barbara, CA 93105

Located in Santa Barbara’s prime Medical Corridor and near Cottage Hospital, this multifamily property offers a rare value-add opportunity in a high-demand, low-supply submarket. With two of four units currently vacant, investors can capitalize on immediate leasing upside at current market rates. The flexible unit mix—ranging from studios to a spacious 3BD/3BA—broadens tenant appeal, while the potential to convert one or both 2-car garages into ADUs presents additional income and long-term value. Enhanced by ample on-site parking and a highly walkable location near De La Vina and State Street, this property is ideal for strategic renovations and repositioning to unlock its full potential.
Price $2,275,000 (5% cap rate*)
Building Size 4,260 SF (two buildings)
Lot Size 9,148 SF
APN 025-183-024
Unit Mix
Zoning R-MH (residential multi-unit and
hotel)
Parking Two 2-car garages,
plus 2 onsite parking areas
Occupancy 2 of 4 units currently vacant
To Show Call listing agent
• 1 x 3BD/3BA (vacant at COE)
• 1 x 2BD/1.5BA (vacant at COE)
• 2 x Studio Units
* based on a blend of current and market rents