543.5 Arroyo Ave, Santa Barbara, CA 93109 $4,795,000

Status: Active    MLS# 22-3174

8 Bedrooms    6 Full Bathrooms    1 Half Bathrooms

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Property Description

Rare opportunity on the Mesa - 8 bedrooms, 7 bathrooms, over 4,300 square feet and resting on a secluded 1.27 acre lot.This custom-built home has proven to be a very strong income-producing asset for student housing with current monthly rents of $30,420 per month(Actual 6% CAP). Additional rental income is possible with 3 open beds that can be filled next semester with a large waitlist of applicants. The flexible floor plan could also operate as a large family compound with multiple entrances, an abundance of parking and plenty of exterior space for outdoor entertainment. A peek of the ocean can be viewed from the top floor balcony and in total there are over 1,000 square feet of balcony space. One must walk through the botanical gardens located below the house to truly appreciate this tranquil lot backing up to Honda Valley Park. Big buyer upside potential with the ability for additional ADU's as well as a lot split (Buyer to verify). A true gem with a superb location near Leadbetter Beach, Santa Barbara City College, and Downtown Santa Barbara.

Property Information
Property Details
MLS ID: #22-3174
Current Price: $4,795,000 
Status: Active
Days on Market: 2
Address: 543.5 Arroyo Ave
City / Zip: Santa Barbara, CA 93109
Area / Neighborhood: Mesa
Property Type: Residential – Home/Estate
Approx. Sq. Ft.: 4,312 
Year Built: 1989 
Acres: 1.27 
View: Mountain, Ocean, Partial/Filtered, Setting 
Schools
Elementary School: McKinley
Jr. High School: S.B. Jr.
Sr. High School: S.B. Sr.
Interior Features
Bedrooms: 8
Total Bathrooms: 7
Bathrooms (Full): 6
Bathrooms (Half): 1
Appliances: Dishwasher, Dryer, Gas Rnge/Cooktop, Washer 
Exterior Features
Roof: Composition 
Construction: Tri-Level 
Grounds: Deck, Fruit Trees 
Parking: Gar #2 
Misc.
Other buildings: Shed 
Water / Sewer: S.B. Wtr 
Zoning: R-1 
Location

Listed with Omega Real Estate and Investments