Remodeled Triplex With On-Site
For Sale
$1,800,000
222 S Salinas St, Santa Barbara, CA 93103
Residential income property with updated interiors, shared laundry, individual utility metering, and on-site vehicle parking.
Property Size3,085 SF
Days on Market40
Property Features for 222 S Salinas St
General Information
Standard status
Active
Size
3,085 SF
Property subtype
Multifamily
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR, 1 x 2BR/2BA
Multifamily Units
3
Amenities
common laundry room
Building Details
Building Size
3,085 SF
Units
3
Listing Agency:
Earle Hyman
Listed By:
Earle Hyman · License #License(s): CA: 00803521
(818) 212-2770
Source:
Marcusmillichap
Added: Aug 28
Changed: Oct 3
Last Checked: Oct 5 at 2:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Earle Hyman
Investment Insights
Based on property information with market context.
This triplex contains two three-bedroom residences and one two-bedroom, two-bath residence. Unit A received a full interior remodel with a new kitchen and appliances in August 2018, followed by a front-yard patio installation in May 2022. Concrete improvements were completed at Unit B’s front entry in March 2024. The property also has a shared laundry room, a five-car carport, and additional open parking on the premises. Gas and electricity are separately metered for each residence.
A sump pump, additional concrete work, and a new drainage line were installed along the west side of the property in March 2026. The property is approximately one mile east of the 101 Freeway, south of the Coast Village shopping area and Montecito Country Club, and approximately one and a half miles from the beach.
A sump pump, additional concrete work, and a new drainage line were installed along the west side of the property in March 2026. The property is approximately one mile east of the 101 Freeway, south of the Coast Village shopping area and Montecito Country Club, and approximately one and a half miles from the beach.
Key Highlights
- Three‑unit configuration with two three‑bedroom residences and one two‑bedroom, two‑bath residence
- Unit A remodeled with a new kitchen and appliances in August 2018
- Unit A front‑yard patio added in May 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,778
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,355,560
$1.4M
Cap Rate 7%
$968,257
$968.3K
Cap Rate 9%
$753,089
$753.1K
Market Conditions
NOI Build-Up for 3,085 SF
Gross rent
$100.0K $32.40/SF
− Vacancy
−$3.1K −$1.01/SF
EGI
$96.8K $31.39/SF
− OpEx
−$29.0K −$9.42/SF
NOI
$67.8K $21.97/SF
Area
Santa Barbara County, CA
Vacancy
3.13%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,355,560
Cap Rate 7%
$968,257
Cap Rate 9%
$753,089
Alternative Uses
Best Use
Multifamily LT 5
$968.3K
$847.2K – $1.13M
NOI $67,778 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$871.9K
$763.0K – $1.02M
NOI $61,036 @ 7.0% cap · market cap 3.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
794
Businesses Nearby
Explore this area
Business Placement
Demographics for 93103, CA
20,029
Population
8,069
Households
2.5
Avg Household Size
39
Median Age
46%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
3,642
Density / Sq Mi
$118,118
Median Household Income
$46,441
Median Earnings
$2,407
Median Rent
$1,555,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with updated interiors, shared laundry, individual utility metering, and on-site vehicle parking.
Where is this triplex located?
The property is located at 222 S Salinas St Santa Barbara, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three‑unit configuration with two three‑bedroom residences and one two‑bedroom, two‑bath residence; Unit A remodeled with a new kitchen and appliances in August 2018; Unit A front‑yard patio added in May 2022
