Serving Santa Barbara, Ventura & San Luis Obispo Counties

June 15, 2018

8 Unit Multi-Family Property Near Beach

PRICE REDUCED: $2,950,000

2380 Lillie Ave, Summerland, CA 93067

GPS Commercial Real Estate Services, Inc. is proud to present this incredible opportunity to purchase 8-units in Summerland, CA.

Download Brochure Here

GPS Commercial Real Estate Services is pleased to exclusively present this opportunity to acquire a small apartment complex in the southern California beach community of Summerland, just south of Santa Barbara and Montecito. This irreplaceable property consists of 5 buildings and holds 8 units, one is currently operated on a commercial basis. Five of the eight units have ocean views.  The units are in good condition and the location near the beach and services will accommodate a substantial upgrade to achieve maximum rents.

The unique property is well located along Lillie Ave. immediately off Highway 101 which runs parallel to the commercial corridor of Summerland. Immediately south of Montecito and just a few miles from Santa Barbara, as well as a few hundred feet from Lookout Park and Summerland Beach, makes this location unforgettable and intriguing.

The surrounding area has an affluent demographic profile with the population of Summerland having an average household income of $109,000/yr.

Investment Highlights:
LOCATION!
LOCATION!
LOCATION!
Beach Community
Potential Upside
Accessibility to Services
Tourist Area
Ocean views from 5 units

“We put the client first”

If you would like more information about this topic, please contact Pamela Scott at (805) 560-0040 or email at pscott@gpscre.com.

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