Are you looking for a great place to invest in commercial real estate such as Santa Barbara County? The county is excellent when it comes to investment opportunities!
With the average home price in Santa Barbara currently hovering close to $720,000 (down from its peak of $800,000 in 2008, but still a considerable amount of money), the market for rental units is high for individuals and families who can’t afford to purchase a home.
In addition, the city of Santa Barbara is home to the renowned University of California at Santa Barbara campus, and many students prefer to rent apartments rather than stay in the dorms.
Income from any Santa Barbara apartment or rental property can be considerable:
The City of Santa Barbara reports that the median rental price for a one-bedroom apartment in the city was $1824 in 2016. Two bedroom apartments rented for $2299 in 2016 (While these statistics were for the city of Santa Barbara, rental rates throughout the county are similar).
The U.S. Census Bureau reports that Santa Barbara County’s population increased by 4.9 percent between 2010 and 2015, and is expected to continue growing. Many newcomers rent before purchasing; another reason investing in rental properties makes so much sense today.
The California Department of Transportation projected job growth of almost 9 percent (8.9 percent) between 2011 and 2016, with a corresponding population growth for those years of 4.6 percent.
Retail sales should increase by almost 21 percent (20.8 percent), with the fastest job growth occurring in the financial sector.
Santa Barbara County is known country-wide for its beauty. Nestled between the Pacific Ocean and the Los Padres National Forest to the east, the county is celebrated for its temperate climate, lovely sea breezes, wineries, Spanish/Mexican history and continuing gentle influence, fine dining, great schools, and more. It’s no wonder many people consider it to be one of the most beautiful areas of the United States.
Apartment Investment Specialists and Craig Lieberman can also assist with property management in Santa Barbara. Finding the right property management professionals can be difficult, but Apartment Investment Specialists is skilled and experienced with Santa Barbara property management. Apartment investments in the Santa Barbara zip code can be a great option since Santa Barbara housing, Santa Barbara properties, and multi-family homes for sale in Santa Barbara, CA are hot commodities these days. Let Apartment Investment Specialists be your brokerage and preferred property management group for all Santa Barbara property investments. Call Today!
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