Property Description

Once in a lifetime does an opportunity to acquire a legal 12-unit short term vacation rental property in Santa Barbara’s historic and coveted West Beach come along. This beautiful beach retreat is located just two blocks from the ocean at West Beach, walking distance to the Santa Barbara Pier, Santa Barbara Harbor, fantastic world class dinning and so much more. Potential tenants/guests enjoy the new State Street Promenade, Sterns Wharf, The Funk Zone, Santa Barbara Farmer’s Market, Moxi Museum, and Chase Palm Park’s Summer Concerts Series. This meticulously maintained property has been historically run as short-term rentals with long-term tenants sprinkled in. So many options for this location present themselves; keep running as it is, use as executive apartment suites, or transform into a boutique hotel. All suites are beautifully appointed with high-end designer appliances: wolf cook tops, subzero refrigerators and, dishwashers. The designer’s flare shows with the beautifully fully furnished appointments, high ceilings, washers/dryers, granite countertops, limestone floors, hardwood floors, custom cabinets, Waterford fireplaces, gorgeous spa like bathrooms, private patios/balconies, air conditioning, large gas grills, and venetian fountains. The benefits continue with off street parking, 6 garages and a full basement for housekeeping. And, so much more. The layout of 201 Bath lends itself to multiple uses or configurations: Ownership’s exclusive use of the two third-floor penthouses; use each floor as a residence, create townhouse layout; or use as twelve individual executive apartment suites. Benefits continue with the ability to add additional 3000 square feet of new living space that could be configured as one or two additional suites. This opportunity is due to the unique set back at the front of the property. 5.69% CAP rate on market nightly rental rates

Features
: Central
: Central Air
3
: Community
0
: Park, Biking, Hiking, Watersports, Fishing
Additional Information
Beachside Partners
0
V199504560
V9025
Nicholas
033031019
: Standard
6
32

Multi-Family For Sale

201 Bath Street, Santa Barbara, California 93101

$12,995,000
Listing ID #V1-3181
Basic Details
Status : Active
DaysOnMarket : 154
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : V1-3181
Price : $12,995,000
Lot Size : 15,246 Sqft
Year Built : 1910
Subdivision : Santa Barbara: Other
ModificationTimestamp : 2021-06-15 09:25:23
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