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1045-1049 Elm Lane, CARPINTERIA, CA 93013

$5,600,000
Property Type: Res Inc Status: Closed
Current Price: $5,600,000 List Date: 11/21/2017 Last Modified: 9/15/2024

Description

Rarely does an asset come available on the South Coast that offers a full package: an A+ location, quality units with a good mix, and long-term stability. This pride-of-ownership property in coastal Carpinteria consists of 18 units on three separate parcels in three separate buildings — one duplex and two eight-unit buildings. Just a block from Linden Avenue in the center of downtown Carpinteria, this prized asset is near restaurants, shops, tasting rooms, parks, beaches and the other amenities that make Carpinteria one of California’s best beach towns. The units at Elm Lane have been updated with granite countertops, new cabinetry, dual pane windows, tile and wood floors, appliances, and finishes. This is one of the best rental properties that Carpinteria has to offer.

More Information MLS# 17-3649

Location Info

Country: US Compass Map: Carpinteria Map Grid: G7 Cross Street: Carpinteria Ave District: 05 - CARPINTERIA-SUMMERLAND Street #: 1045-1049 Street Name: Elm Street Suffix: Lane State: CA Postal Code: 93013 County: Santa Barbara Parcel Number: 003-152-023

Contract Info

Buyers Agent $/%: 2.5 Current Price: $5,600,000 Price: 5795000 Begin Date: 2017-11-01 Status: Closed

Property Information

Year Built: 0 Recurring Fees: No Number of Units: 18

Neighborhood/Schools

Elementary School: Main Junior High School: Carp. Jr. High School: Carp. Sr.

Owner Info

Deposit: 0

Remarks

Hot Sheet Comment: new

Miscellaneous

Parking Spaces: 20

Unit 1

# Units: 1 # Bedrooms: 3 # Baths: 1 # Half Baths: 1 Furnished: N Rent: 3000 Monthly Total: 3000

Income/Expenses

Total Monthly Income: 32500 Other Income: 2643 Annual Income: 421721 Gross Rent Multiplr: 13.74 Capitalization Rate: 4.41 Actual: 1 Total Annual Exp: 157761 NOI: 255,526

Unit 2

# Units: 1 # Bedrooms: 2 # Baths: 1 # Half Baths: 1 Rent: 2500 Monthly Total: 2500

Zoning

Other: 1

Terms

Cash: 1

Listing Type

ER: 1

Unit 3

# Units: 4 # Bedrooms: 2 # Baths: 1 Rent: 1875 Monthly Total: 7500

Unit 4

# Units: 12 # Bedrooms: 1 # Baths: 1 Rent: 1625 Monthly Total: 19500

Status Information

Sold Date: 2018-03-21 Sold Price: $5,600,000 Under Contract Date: 2018-02-23

Property Features

Zoning: Other Terms: Cash Listing Type: ER
Listing Office: Hayes Commercial Group
IDX
Last Updated: September - 15 - 2024
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.

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