223 W Arrellaga Street Santa Barbara, CA 93101

Character-rich property in the heart of downtown Santa Barbara. This classic Craftsman triplex delivers an easy-to-rent unit mix featuring a two-story 2BD/1.5BA, an upstairs 2BD/1.5BA, and a ground-floor 1BD/1BA. All the heavy CapEx lifting is already handled: brand-new roof, new skylights, full exterior wood repair & paint, fresh yard divider fencing, reinforced garages, and updated exterior lighting. The vacant unit just wrapped a nice interior refresh with fresh paint, durable new carpet and kitchen laminate flooring, new fixtures, and microwave hood, giving you instant day-one market rent without lifting a finger. Having two separate 1-car garages plus extra off-street parking downtown is pure gold for tenant retention or extra storage revenue. Located just blocks from the State Street corridor in an ultra-tight rental market, this is a clean, low-maintenance income play built for solid yield and long-term appreciation.