Entitled Triplex with Approved
For Sale
$2,895,000
1611 Castillo St, Santa Barbara, CA 93101
Triplex on a 16,988 SF lot with approved plans for seven units and in-place rental income.
Property Size2,122 SF
Lot Size0.39 Acres
Price / SF$1,364
Days on Market80
Property Features for 1611 Castillo St
General Information
Standard status
Active
Size
2,122 SF
Total Parking Spaces
3
Lot size
0.39 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Building Details
Year Renovated
2018
Tenancy
Multi
Listing Agency:
Beachside Partners
(805) 453-5097
Listed By:
Jonathan P Standring
(805) 453-5097
Source:
Exprealty
Added: Jun 11
Changed: Aug 25
Last Checked: Aug 29 at 1:02PM
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 Beachside Partners
Investment Insights
Based on property information with market context.
1611 Castillo Street in Santa Barbara, California is a triplex offering a solid foundation of in-place income and an approved path to increased density. The property is currently configured as three units: a remodeled 2BD/1BA and a remodeled 1BD/1BA, renovated in 2018, along with a 1BD/1BA built in 2006. The 2006 unit includes central HVAC and a gas fireplace. Each unit features a private garage and dedicated storage, supporting tenant convenience and practical day-to-day use.
The 16,988 SF lot is fully entitled for a total of seven units, with approved plans in place that allow an investor to move forward with immediate execution and delivery of additional housing inventory. The property is described as being within minutes of downtown Santa Barbara and the beach, with convenient access to State Street and the Funk Zone, dining, retail, entertainment, and nearby public transportation.
For buyers or operators seeking a residential income property with both current rental utility and an entitlement-driven expansion component, this asset provides a clear, near-term development framework alongside a well-maintained existing duplex/triplex setup. The mixture of renovation timing and unit features such as central HVAC and in-unit heating elements can help support ongoing leasing flexibility while the approved seven-unit plan prepares for future capacity.
The 16,988 SF lot is fully entitled for a total of seven units, with approved plans in place that allow an investor to move forward with immediate execution and delivery of additional housing inventory. The property is described as being within minutes of downtown Santa Barbara and the beach, with convenient access to State Street and the Funk Zone, dining, retail, entertainment, and nearby public transportation.
For buyers or operators seeking a residential income property with both current rental utility and an entitlement-driven expansion component, this asset provides a clear, near-term development framework alongside a well-maintained existing duplex/triplex setup. The mixture of renovation timing and unit features such as central HVAC and in-unit heating elements can help support ongoing leasing flexibility while the approved seven-unit plan prepares for future capacity.
Key Highlights
- Triplex on a 16,988 SF lot with approved plans for a total of seven units
- Year built: 2006
- Current layout includes a remodeled 2BD/1BA and two 1BD/1BA units (renovated in 2018 for the 1BD/1BA unit(s))
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 93101, CA
30,513
Population
13,664
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
9,535
Density / Sq Mi
$79,868
Median Household Income
$42,614
Median Earnings
$2,109
Median Rent
$1,122,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex on a 16,988 SF lot with approved plans for seven units and in-place rental income.
Where is this triplex located?
The property is located at 1611 Castillo St Santa Barbara, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: Triplex on a 16,988 SF lot with approved plans for a total of seven units; Year built: 2006; Current layout includes a remodeled 2BD/1BA and two 1BD/1BA units (renovated in 2018 for the 1BD/1BA unit(s))
