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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: 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
1045-1049 Elm Lane, CARPINTERIA, CA 93013- MLS# 17-3649
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.

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