Turnkey apartments! No significant capital improvements needed. Extensively remodeled 11-unit multifamily property located just one block from Cottage Hospital, minutes from Downtown and Uptown Santa Barbara, and near the beach and Highway 101. This Spanish-style property consists of an ideal unit mix featuring nine (9) large 2BD/2BA units and two (2) large 1BD/1BA units and offers tenants an intimate common courtyard along a creek setting amongst mature sycamores, pines and oaks. The property features 16 off-street parking spots, private patios and/or decks for each unit, common onsite laundry facilities, bike storage, and tenant storage closets. Each unit has been tastefully remodeled with new wood-like vinyl flooring, new tile, new gourmet kitchens, new bathrooms, new appliances, new fixtures, new lighting, new doors, new windows, and new paint throughout. The exterior has been improved with a new smooth stucco exterior, updated staircases and handrails, updated patios and decks, new exterior paint, new patio pavers, and improved landscaping. This recent remodel was completed to ensure an owner is able to obtain top dollar from Oak Park’s rental market. Price: $7,895,000 # of Units: 11 Unit Mix: - 9 x 2BD/2BA - 2 x 1BD/1BA Building SF: 10,177 SF* Lot Size: 22,216 SF Parking: 16 total (9 carports and 7 uncovered) Laundry: Common laundry room Zoning: O-M (Office Medical) APN: 025-090-003 Cap Rate: 4.26% (Current Rents**), 4.58% (Market Rents) GRM: 15.82 (Current Rents**), 15.02 (Market Rents) To Show: Call listing agent *Square footage is estimated and only includes livable areas and laundry/storage rooms. ** Current Rents include current asking rents for four units that are currently vacant