115 E Micheltorena Street, SANTA BARBARA, CA 93101
$5,600,000
Property Type:
Comm/Ofc
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:
3/02/2020
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 .
More Information MLS# 19-4073
Location Info
District: 15 - SB/EAST OF STATE
Street #: 115
Dir: E
Street Name: Micheltorena
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 027-241-022
Cross Street: Anacapa St
Contract Info
Current Price: $5,600,000
Price: 5900000
Buyers Agent $/%: 2.25
Begin Date: 2019-12-11
Status: Closed
Property Information
TYP: Commercial
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
Sold Price: $5,600,000
Under Contract Date: 2020-01-24
Business Info
# Pk/1000: 4
% Currently Leased: 100
Owned Since: 1991
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
Heating/Cooling: GFA; A/C Central
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; Ctnl
Listing Type: ER
Contingent Remarks: CONTACT AGENT
Listing Office: Village Properties - 1
Last Updated: March - 02 - 2020
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