1045-1049 Elm Lane, CARPINTERIA, CA 93013 (MLS# 17-3649)

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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

Overview

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.

Listing Details MLS# 17-3649

Location Info

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

Contract Info

Price: 5795000
Buyers Agent $/%: 2.5
Begin Date: 2017-11-01

Status Information

Sold Date: 2018-03-21
Under Contract Date: 2018-02-23

Property Information

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

Remarks

Hot Sheet Comment: new

Miscellaneous

Parking Spaces: 20

More Information

Unit 1

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

Unit 2

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

Unit 3

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

Unit 4

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

Neighborhood/Schools

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

Owner Info

Deposit: 0

Income/Expenses

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

Zoning

Other: Yes

Terms

Cash: Yes

Listing Type

ER: Yes

Property Features

Zoning: Other Terms: Cash Listing Type: ER

Listing Office: Hayes Commercial Group

Last Updated: September - 15 - 2024

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