1107-1111 6 Unit Apartment Building Offered at $8,961,355 CAD Santa Barbara, CA 93103

Nestled at the base of Santa Barbara’s famed Lower Riviera, this exceptional investment opportunity consists of six freestanding homes across two adjacent parcels at 1107 and 1111 E Cota Street, located just minutes from Downtown Santa Barbara, the Santa Barbara County Bowl, the Funk Zone, a wide variety of shopping, and Santa Barbara’s white sand beaches.
The offering includes six 3BD/2BA homes, each with an attached two-car garage, ranging in size from approximately 1,300 to 1,600 SF. The homes at 1107 E Cota were constructed in 1999, while 1111 E Cota was originally built in the mid-1920s and substantially remodeled in 1999. Each residence features its own laundry room, exclusive outdoor living space, and separate utility metering, providing privacy and operational efficiency similar to single-family homes.
Additionally, 1111 E Cota includes a lower-level bonus room of 327± SF adjacent to a 480 SF two-car garage, creating the potential to combine the spaces into an 800± SF 2BD ADU, further enhancing rental income and property value.
Originally designed and built to be condominiums, this offering presents a rare opportunity for owner-occupants, apartment investors, 1031 exchange buyers, and employee housing buyers, as well as value-add investors pursuing ADU development and/or potential condominium conversion.
Price: $6,500,000 ($1,083,333/unit)
Unit Mix: 6 x 3BD/2BA homes
Rentable SF: 8,853 SF
Land Size: 21,780 SF
APN: 031-190-032, 031-190-031
Year Built: All buildings 1999, except 1111 E
Cota which was built in 1925 and
substantially remodeled in 1999
Zoning: R-2
Laundry: In-unit
Parking: 6 x 2-car garages plus 1 on-site
Cap Rate: 3.94% (current)
4.54% (market)
To Show: CLA