125 W Mason Street, SANTA BARBARA, CA 93101
$3,400,000
Property Type:
Res Inc
Status:
Closed
Current Price:
$3,400,000
List Date:
2/06/2018
Last Modified:
4/17/2019
Description
This ideally located five-unit apartment building, adjacent to Ambassador
Park in the idyllic West Beach neighborhood, has been in
the same family for over 15 years. Its classic Spanish Mediterranean
architecture and lush landscaping is reminiscent of a peaceful
oasis, while the property’s unit mix provides great versatility for an
investor. With a “walk score” of 83, the location allows easy access
to the Funk Zone, the harbor, the wharf and the many amenities of
downtown Santa Barbara, satisfying every whim of the tenants and
keeping these units in high demand.
More Information MLS# 18-48
Location Info
District: 20 - SB/WEST OF STATE
Street #: 125
Dir: W
Street Name: Mason
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: P13
County: Santa Barbara
Parcel Number: 033-101-010
Cross Street: Cabrillo
Contract Info
Current Price: $3,400,000
Price: 3565000
Buyers Agent $/%: 2
Begin Date: 2018-01-04
Status: Closed
Status Information
Sold Date: 2018-08-24
Sold Price: $3,400,000
Under Contract Date: 2018-05-07
Property Information
Number of Units: 5
Stories: 2
Year Built: 1940
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 20 - West Beach
Elementary School: McKinley
Junior High School: LaCumbre
High School: S.B. Sr.
Remarks
Hot Sheet Comment: new
Unit 1
# Units: 3
# Bedrooms: 1
# Baths: 1
Furnished: N
Monthly Total: 8250
Unit 2
# Units: 1
# Bedrooms: 2
# Baths: 1
Furnished: N
Monthly Total: 3900
Unit 3
# Units: 1
# Baths: 1
Furnished: N
Monthly Total: 1650
Income/Expenses
Annual Income: 172800
Gross Rent Multiplr: 20.7
Capitalization Rate: 3.0
Property Features
Unit 1: Lease
Zoning: Other
Terms: OTHER/CLA
Listing Type: ER
Listing Office: Hayes Commercial Group
Last Updated: April - 17 - 2019
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