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$3,675,000
104 - 106 Chapala St
SANTA BARBARA, CA 93101
MLS# 18-2129
Status: Closed



104 - 106 Chapala Street & 28 - 30 West Mason Street
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104 - 106 Chapala Street & 28 - 30 West Mason Street 104 Chapala Street 104 Chapala Street Common Entrance 104 Chapala Street Common Entrance 104 Chapala Street Common Entrance 104 Chapala Street, Apartment A 104 Chapala Street, Apartment A 104 Chapala Street, Apartment A 104 Chapala Street, Apartment A 104 Chapala Street, Apartment A 104 Chapala Street, Apartment A 104 Chapala Street, Apartment B 104 Chapala Street, Apartment B 104 Chapala Street, Apartment B 104 Chapala Street, Apartment B 104 Chapala Street, Apartment B 104 Chapala Street, Apartment B 104 Chapala Street, Apartment C 104 Chapala Street, Apartment C 104 Chapala Street, Apartment C 104 Chapala Street, Apartment C 104 Chapala Street, Apartment C 104 Chapala Street, Apartment C (Small Deck w/Peek A Boo Ocean Views) 104 Chapala Street, Apartment D 104 Chapala Street, Apartment D 104 Chapala Street, Apartment D 104 Chapala Street, Apartment D 104 Chapala Street, Apartment D 104 Chapala Street, Apartment E 104 Chapala Street, Apartment E 104 Chapala Street, Apartment E 104 Chapala Street, Apartment E 104 Chapala Street, Apartment E (Balcony with Ocean Views) 106 Chapala (Stand Alone Bungalow) 106 Chapala (Stand Alone Bungalow) 106 Chapala (Stand Alone Bungalow) 106 Chapala (Stand Alone Bungalow) 28 - 30 West Mason Street (Duplex) 28 West Mason Street 28 West Mason Street 28 West Mason Street 28 West Mason Street 28 West Mason Street 28 West Mason Street (Just Remodeled!) 28 West Mason Street (Just Remodeled!) Ocean Views from Bedroom (28 West Mason Street) 30 West Mason Street 30 West Mason Street 30 West Mason Street 30 West Mason Street 30 West Mason Street 104 - 106 Chapala Street & 28 - 30 West Mason Street 104 - 106 Chapala Street & 28 - 30 West Mason Street One Block from West Beach One Block from West Beach

Property Description
Located just one block from West Beach and La Entrada (new 5-Star Hotel Californian), minutes to the heart of Downtown Santa Barbara, the Funk Zone and within close proximity to Stearn's Warf and the Santa Barbara Harbor, the location of this highly sought after investment property is unbeatable! Featuring the charming architecture of the early 1900's, this property at 104 - 106 Chapala and 28 - 30 West Mason Street includes a 5 unit-apartment house, a duplex and a stand-alone bungalow. The total 8 units are comprised of a mix of 5 one-bedroom, one-bath units and 3 studio, one-bath units with excellent rents. Incorporated in some of the units are a small deck, a balcony, and peek a boo ocean views.

Details
Maps
Location Info
District: 20 - SB/WEST OF STATE
Street #: 104 - 106
Street Name: Chapala
Street Suffix: St
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: P13
County: Santa Barbara
Parcel Number: 033-074-007
Cross Street: Mason
Contract Info
Current Price: $3,650,000
Price: 3675000
Buyers Agent $/%: 2.5
Begin Date: 2018-06-11
Status: Closed
Status Information
Sold Date: 2018-08-15
Sold Price: $3,650,000
Under Contract Date: 2018-06-27
Property Information
Number of Units: 8
Stories: 2
Year Built: 1905
Apx Lot SqFt: 6000
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 20 - West Beach
Elementary School: Other
Junior High School: S.B. Jr.
High School: S.B. Sr.
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
# Refrigerators: 8
# Stoves: 8
Unit 1
# Units: 4
# Baths: 1
Furnished: Y
Rent: 8595
Monthly Total: 8595
Unit 2
# Units: 2
# Bedrooms: 1
# Baths: 1
Furnished: Y
Monthly Total: 4800
Unit 3
# Units: 2
# Bedrooms: 1
# Baths: 1
Furnished: N
Monthly Total: 4100
Income/Expenses
Total Monthly Income: 17655
Annual Income: 205504
Capitalization Rate: 3.33%
Vac Factor: 3%
Taxes: 38588
NOI: $122,401
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes
Property Features
Condition: Excellent; Good
Parking Info: Street
Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s); Near Shopping
Zoning: R-4
Reports Available: Other
Terms: Cash
Listing Type: ER
Supplements
6 of the 8 units have been extensively remodeled and furnished, making the units readily available for longer or shorter term rentals. This is an unparalleled investment opportunity! Location Description: 100 - 106 Chapala Street and 28 - 30 West Mason Street are situated just one block from West Beach and La Entrada (new, 5-Star Hotel Californian), minutes to the heart of Downtown Santa Barbara, the Funk Zone and within close proximity to Stearn's Warf and the Santa Barbara Harbor. The walk score for this property is 87 and the bike score is 99. La Entrada (de Santa Barbara) and the newly built 5-star Hotel Californian is also just one block away. This new development includes a luxury 5-star hotel and approximately 20,000 square feet of commercial space with open plazas, and gardens. Also included in the new development is a public parking structure, which includes 137 valet and 116 public parking spaces and 10,353 square feet of commercial space including a visitor center. Downtown Santa Barbara features world class shopping ranging from major retailers to unique boutique shops; some of the finest restaurants and cafes offering authentic cuisine from across the globe; cultural venues including art galleries, theaters, historic museums and historic architecture. This property is also located just blocks from the high energy, artist driven Funk Zone: a SoHo like neighborhood where wine makers, chefs and artists now have an official place to showcase their unique talents. As the rebirth of lower State Street life energy draws locals and tourists to this trending, burgeoning and thriving area, the demand for neighboring rental housing continues to progress.

Listing Office: Coldwell Banker Realty

Last Updated: December - 25 - 2021

104 - 106 Chapala St, SANTA BARBARA, CA 93101 - MLS# 18-2129
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.