1662 Eucalyptus Drive, Solvang, CA 93463
Multi Family - Solvang, CA
- Added:
- Jun 11, 2026
- Days on Market:
- 5
- Last Refresh:
- Jun 15 at 8:06 am
Property Features for 1662 Eucalyptus Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Multi Family
- Bedrooms
- 18
- Bathrooms
- 12
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Covered
- Patio and Porch features
- Patio
- Exterior features
- Patio
- Standard status
- Active
- APN
- 139-080-023
- Size
- 9,291 SF
- Lot size
- 1.10 Acres
Utilities
- Heating system
- Forced Air, Wall Furnace
Building Details
- Year built
- 1962
- Floors in Building
- 12
- Number of units
- 12
- Building materials
- Stucco
- Roof type
- Composition
- Architectural style
- Other
Listing agent John Frederick License #00696297 (805) 350-0882
Listing office Santa Ynez Valley Real Estate 1595 Mission Dr, Solvang, CA (805) 688-5717
Listing date Jun 11, 2026
Copyright © 2026 North Santa Barbara County Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑density R/3 zoning allows for the addition of more units on the 1+ acre parcel.
- Eleven existing units provide immediate rental income.
- Includes a separate, detached 2‑bedroom residence.
- Mix of unit types: five 2‑bed/1‑bath and six 1‑bed/1‑bath.
- Features a 10‑space covered parking structure.
- Conveniently located near town and schools.
Overview
The property sits on more than one acre in Solvang, with zoning identified as R/3 and described as the city’s highest density designation. The listing notes the location is close to town and schools, supporting convenient day-to-day access for residents.
For investors and buyers seeking a residential income portfolio, the unit mix offers both one- and two-bedroom options within a single ownership. The presence of a detached residence alongside the apartments may also support flexible tenant or household planning. With the property’s R/3 designation noted as a potential pathway for adding additional units on the parcel, the site may appeal to operators looking to evaluate redevelopment or expansion possibilities in line with local requirements.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $345.6k | $37.20 |
| − Vacancy | −$11.4k | −$1.23 |
| EGI | $334.2k | $35.97 |
| − OpEx | −$150.4k | −$16.19 |
| NOI | $183.8k | $19.78 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Solvang
- County
- Santa Barbara
- State
- California
- Longitude
- -120.138461
- Latitude
- 34.599027
