Great updated investment opportunity near USC! Well-maintained triplex zoned LARD1.5 offering a strong current 5.6% Cap Rate with additional rent upside potential. The property features two spacious 2-bedroom / 1-bath units (downstairs Unit 1478 and upstairs Unit 1474) plus a 1-bedroom / 1-bath unit (Unit 1478.5). Significant upgrades completed within the last 3 years include newer flooring, newer kitchens and bathrooms, fresh interior paint, new water heaters, plumbing improvements, waste line replacement, and one new wall heater. Current rents provide stable income with the opportunity to increase returns through market rent adjustments and continued unit optimization. Ideal for both seasoned and 1031-exchange investors seeking value-add potential in a high-demand rental area. Two units can be delivered vacant.
Days on market: 12
Listing updated: February 17, 2026 - 07:59:02
Listed by: Jennifer Stein DRE #01786020 805-319-5866, Keller Williams Realty Santa Barbara - Out of Area Board
Source: Out of Area Board, MLS#: CLW-X80678 Originating MLS: CRMLS
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