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Santa Barbara, CA 93101

$4,600,000
: 3,459
SqFt

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List Price: $4,600,000
Status: ACTIVE
MLS#: 26-3148
Living Area: 3,459
Region: SB/WEST OF STATE
Year Built: 1930

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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