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Additional details
$4,600,000
Est. payment /mo
3,459 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,459 sqft
Price per Sqft $1,329
Subdivision 15 Or 20 - Downtown
MLS Listing ID 26-3148
Year Built 1930
Source Santa Barbara Multiple Listing Service
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 80% at a $496 ADR and a 6.5% 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.
Location
State CA
County Santa Barbara
Community 15 Or 20 - Downtown
Interior
Heating Natural Gas, Forced Air
Cooling Central Air
Laundry Laundry Room, In Unit
Exterior
Parking Features Outside
Accessibility Customized Wheelchair Accessible
Building
Lot Description Near Public Transit
Foundation Mixed
New Construction No
Others
Acceptable Financing Cash
Listing Terms Cash
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Listed by Hayes Commercial Group