115 E Micheltorena Street, SANTA BARBARA, CA 93101 (MLS# 19-4073)

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115 E Micheltorena Street, SANTA BARBARA, CA 93101

$5,600,000

Property Type: Commercial Sale Baths: 4 Square Footage: 7,000 Lot Size (sq. ft.): 21,344 Status: Closed

Current Price: $5,600,000 List Date: 12/12/2019 Last Modified: 9/17/2024

Overview

Description

Stunning Class A commercial 2 story office building designed by Edwards-Pitman Architects in the Santa Barbara style architecture. Beautifully landscaped and sits in the heart of the upper east side across from Alameda Park. A short distance to Alice Keck Park , Federal and County Courts and the Entertainment district. Also Included are two residential income units at 114 La Paz unit A & B , 28 off street parking spaces ( a 4 to 1 ratio) and the possibility to further develop. The office building is on a master lease til July 2023 currently with possible first floor sub let or owner usage (approximately 2700 Sq. Ft). as of 2018 approximate ROI 4.50 and GRM of 21.8 .

Listing Details MLS# 19-4073

Location Info

District: 15 - SB/EAST OF STATE
Street #: 115
Dir: E
Street Name: Micheltorena
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 027-241-022
Cross Street: Anacapa St

Contract Info

Price: 5900000
Buyers Agent $/%: 2.25
Begin Date: 2019-12-11

Property Information

TYP: Business
For Sale/Lease: For Sale
Year Built: 1991
Yr Built Remarks: New
Stories: 2
#Offices: 2
Total Bathrooms: 4
Gross Sq Ft: 7000
Nt Rt Sq Ft.: 6949
Apx Lot SqFt: 21344
Apx # Acres: 0.49

Owner Info

Deposit: 177000

Remarks

Directions: Take Garden St to Micheltorena St turn west 1& 1/2 blocks to Building
Hot Sheet Comment: new

Status Change Info

Sold Date: 2020-03-02
Under Contract Date: 2020-01-24

More Information

Business Info

# Pk/1000: 4
% Currently Leased: 100
Owned Since: 1991

Condition

Excellent: Yes

Amenities

Views: Yes
Elevator: Yes
Fire Spkl: Yes
Shr/Phone: Yes
Lawn Spkl: Yes
Meter/Gas: Yes
Meter/Elec: Yes
Meter/Wtr: Yes
Guard Serv: Yes
ADA Compliant: Yes

Heating

GFA: Yes

Cooling

A/C Central: Yes

Use

Medical Office: Yes
Office: Yes
Residential: Yes
Mixed Use: Yes

Zoning

R-0: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Business Type

Service: Yes

Tenant Pays

Heat: Yes
Elec: Yes
Gas: Yes
Wtr: Yes
Taxes: Yes
Trash: Yes
Cbl TV: Yes
Janitr: Yes
Ins: Yes
Ext Main: Yes
Int Main: Yes
Prk Area: Yes

Parking

Carport: Yes
Detachd: Yes
Uncovrd: Yes
Other: Yes

Loan

No: Yes

Contingent Remarks

CONTACT AGENT: Yes

Reports

Prelim: Yes
Leases Copy: Yes

1031 Exchange

No: Yes

Property Features

Use: Medical Office; Office; Residential; Mixed Use Business Type: Service Zoning: R-0 Condition: Excellent Tenant Pays: Heat; Elec; Gas; Wtr; Taxes; Trash; Cbl TV; Janitr; Ins; Ext Main; Int Main; Prk Area Parking: Carport; Detachd; Uncovrd; Other Cooling: A/C Central Heating: GFA Amenities: Views; Elevator; Fire Spkl; Shr/Phone; Lawn Spkl; Meter/Gas; Meter/Elec; Meter/Wtr; Guard Serv; ADA Compliant Loan: No Reports: Prelim; Leases Copy 1031 Exchange: No Terms: Cash; Conventional Listing Type: ER Contingent Remarks: CONTACT AGENT

Listing Office: Village Properties - 1

Last Updated: September - 17 - 2024

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