29-Unit Trophy Investment Opportunity | 20-80 Oceano Ave
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29-Unit Trophy Investment Opportunity 20-80 Oceano Ave
29 Unit Apartment Building $25,000,000 ($862,069/Unit) 3.93% Cap Rate Santa Barbara, CA 93109
Investment Highlights
- Includes 9 short term vacation rentals.
- Footsteps from Leadbetter Beach.
- Easy access to an array of restaurants, shops and entertainment options.
- Located in the highly coveted Mesa Neighborhood overlooking the Pacific.
- Stunning oceanfront rooftop deck.
Executive Summary
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. The 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. Contact Listing Agents for further details.
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. The 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. Contact Listing Agents for further details.
Property Facts In Escrow
| Price | $25,000,000 | Apartment Style | Garden |
| Price Per Unit | $862,069 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.89 AC |
| Cap Rate | 3.93% | Building Size | 34,768 SF |
| Gross Rent Multiplier | 14.08 | No. Stories | 3 |
| No. Units | 29 | Year Built | 1970 |
| Property Type | Multifamily | Parking Ratio | 0.46/1,000 SF |
| Property Subtype | Apartment |
| Price | $25,000,000 |
| Price Per Unit | $862,069 |
| Sale Type | Investment |
| Cap Rate | 3.93% |
| Gross Rent Multiplier | 14.08 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 34,768 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 0.46/1,000 SF |
PROPERTY TAXES
| Parcel Number | 045-230-028 | Improvements Assessment | $7,127,732 |
| Land Assessment | $2,969,091 | Total Assessment | $10,096,823 |
PROPERTY TAXES
Parcel Number
045-230-028
Land Assessment
$2,969,091
Improvements Assessment
$7,127,732
Total Assessment
$10,096,823
zoning
| Zoning Code | R2SD3 |
| R2SD3 |
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29-Unit Trophy Investment Opportunity | 20-80 Oceano Ave
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