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$ 8,950,000
Est. payment /mo
New
180 Holly Avenue Carpinteria, CA 93013
17,228 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 17,228 sqft
Price per Sqft $519
MLS Listing ID CL25604101
HOA Y/N No
Year Built 1965
Lot Size 0.500 Acres
Acres 0.5
Property Sub-Type Other
Property Description
180 Holly Avenue is a 19-unit garden-style multifamily community located in Carpinteria, one of the most supply-constrained and desirable coastal submarkets along the Santa Barbara South Coast. This marks the property's first offering in nearly 40 years, an exceptionally rare opportunity to acquire a well-maintained coastal apartment asset in an irreplaceable infill location where multifamily turnover is extremely limited and barriers to entry remain high. The property features an attractive two-story design centered around a landscaped courtyard and pool on a half-acre parcel. Units average approximately 900 square feet and include a mix of one- and two-bedroom layouts, many with private patios or balconies that take advantage of abundant natural light, mountain views, and open-air living. Two units will be delivered fully furnished at closing, offering flexibility for a buyer to operate them as short-term rentals or premium long-term offerings. Three apartments, plus the on-site manager's unit, will be delivered vacant, allowing an investor to immediately reposition to market rents and realize approximately 18% rental upside through natural turnover and light renovation. In addition, laundry and storage income are not currently reflected in the financials, offering further incr
Location
State CA
County Santa Barbara
Interior
Fireplace No
Laundry Common Area
Exterior
Utilities Available Other Water/Sewer
Building
Water Other
New Construction No
Others
Tax ID 003481016
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Listed by Filip Niculete • Marcus & Millichap
