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1231 E Mason Street

$2,799,000

Exceptional trophy investment of three newly remodeled cottages. Rarely do you find a turn-key investment with large upside potential, like this one. Perfect for owner/user or a 1031 buyer looking for an add value play. Big upside being the plans pending to build an additional 2 cottages(ADU's) which would easily increase the monthly income $8,000 per month. Renderings available upon request. All three cottages have been remodeled extensively with current rents grossing $10,500 per month. The front cottage(907 SF) has 2 bedrooms, 2 bathrooms with a fenced in front yard at $3,250 per month(market rent $4,000). The tastefully updated back two cottages(941 SF each) have mirrored floor plans with 2 bedrooms and 1 bathroom.

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  • 1231 E Mason Street
    SANTA BARBARA, California 93103

  • List Price: $2,799,000

  • 6 Bedrooms
  • 4 Full Baths

  • Subdivision: 15 - Lower Eastside

  • Elementary School: Franklin
  • Middle School: S.B. Jr.
  • High School: S.B. Sr.

  • 8 Parking Spots

  • This property is currently listed by Austin R Jones with Omega Real Estate and Investments.

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