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:
4/17/2019
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
District: 05 - CARPINTERIA-SUMMERLAND
Street #: 1045-1049
Street Name: Elm
Street Suffix: Lane
State/Province: CA
Postal Code: 93013
Compass Map: Carpinteria
Map Grid: G7
County: Santa Barbara
Parcel Number: 003-152-023
Cross Street: Carpinteria Ave
Contract Info
Current Price: $5,600,000
Price: 5795000
Buyers Agent $/%: 2.5
Begin Date: 2017-11-01
Status: Closed
Status Information
Sold Date: 2018-03-21
Sold Price: $5,600,000
Under Contract Date: 2018-02-23
Property Information
Number of Units: 18
Recurring Fees: No
Neighborhood/Schools
Elementary School: Main
Junior High School: Carp. Jr.
High School: Carp. Sr.
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
Unit 2
# Units: 1
# Bedrooms: 2
# Baths: 1
# Half Baths: 1
Rent: 2500
Monthly Total: 2500
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
Income/Expenses
Total Monthly Income: 32500
Other Income: 2643
Annual Income: 421721
Gross Rent Multiplr: 13.74
Capitalization Rate: 4.41
Total Annual Exp: 157761
NOI: 255,526
Property Features
Income/Expenses: Actual
Zoning: Other
Terms: Cash
Listing Type: ER
Listing Office: Hayes Commercial Group
Last Updated: April - 17 - 2019
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