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+18056104085
CCS Realty
Santa Barbara, CA 93101
- $4,600,000
- 3,459
- SqFt
- List Price
- $4,600,000
- Status
- ACTIVE
- MLS#
- 26-3148
- Living Area
- 3,459
- Region
- SB/WEST OF STATE
- Year Built
- 1930
Property Description
Casa Castillo presents a rare opportunity to acquire a fully permitted, five-suite boutique hotel in the heart of downtown Santa Barbara. Ideally situated just half a mile from State Street and minutes from the vibrant Funk Zone, beaches, shopping, and an abundance of dining and entertainment options, the property offers an exceptional location in one of California's most desirable coastal destinations. As one of a limited number of fully permitted short-term rental properties in Santa Barbara's downtown core, Casa Castillo represents a unique opportunity to acquire a turnkey hospitality investment with an established operating platform and attractive cash flow. Occupancy of 81.1% at a $496 ADR and a 7.0% Cap Rate. interiors. Amenities include high-speed internet access, air conditioning, BBQs and Tesla charging station. This is a turnkey opportunity for the investor looking to expand their short-term rental portfolio and capitalize on the approximately 7.2 million visitors to Santa Barbara, or for a buyer looking for their pied-à-terre in Santa Barbara that not only supports their ownership costs but generates income on their investment.
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Additional Information
- Elementary School
- CLA
- High School
- CLA
- Capitalization Rate
- 7.01
- Foundation
- Mixed
- Handicapped Access
- Customized Wheelchair Accessible
- Laundry
- Laundry Room, In Unit
- Living Area
- 3,459
- Neighborhood
- or 20 - Downtown
- Parking Garage
- Outside
- Region
- SB/WEST OF STATE
- Terms
- Cash
- Units
- 5
- Zoning
- R-MH
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Listing courtesy of Hayes Commercial Group.