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1315 Bath Street, SANTA BARBARA, CA 93101

$4,650,000
Property Type: Res Inc Square Footage: 9,050 Status: Closed
Current Price: $4,650,000 List Date: 10/09/2018 Last Modified: 9/15/2024

Overview

Description

Now for sale for the 1st time in over 40 years, the 12 units at 1315 Bath are one of the very best located apartment buildings of this size you will find in Santa Barbara. Just 2 blocks to the Arts & Theater District, the close-in downtown location provides an investor extraordinary tenant demand due to many tenant-rich employment centers nearby (restaurants, theaters, law offices, government offices), and the attractive vibrant lifestyle at a tenant's doorstep. The building has been professionally maintained by the same family for decades - ready to continue as a safe diversification for a portfolio, or take advantage of the A+ location to transform the property a little or a lot, and realize more upside return (see Documents). With a fantastic unit mix too, this is a rare opportunity!

Listing Details MLS# 18-3671

Location Info

District
20 - SB/WEST OF STATE
Street #
1315
Street Name
Bath
Street Suffix
Street
State
CA
Country
US
Postal Code
93101
Compass Map
Santa Barbara
Map Grid
O12
County
Santa Barbara
Parcel Number
039-112-011
Cross Street
Victoria

Contract Info

Price
4950000
Financing
Cash
Buyers Agent $/%
2.5
Begin Date
2018-10-09

Status Information

Sold Date
2018-11-06
Under Contract Date
2018-10-13

Property Information

Number of Units
12
Year Built
1966
Main House SqFt
9050
Recurring Fees
No

NeighborhoodSchools

Neighborhood
15 or 20 - Downtown

Remarks

Hot Sheet Comment
new

More Information

Owner Info

Deposit
3

Miscellaneous

Parking Spaces
19

Unit 1

# Units
8
# Bedrooms
Yes
# Baths
Yes
Furnished
N
Rent
1718
Monthly Total
13745
# Half Baths
0

Unit 2

# Units
2
# Bedrooms
2
# Baths
2
Furnished
N
Rent
2375
Monthly Total
4750
# Half Baths
0

Unit 3

# Units
2
# Bedrooms
2.8
# Baths
2
Furnished
N
Rent
2600
Monthly Total
5200
# Half Baths
0

Meters

Sep Meter Wtr
N
Sep Meter Elec
Y

Parking Info

Total # Carport Spaces
7
Total # Garage Spaces
2
Total # Unconvered Spaces
10
Gar #2
Yes
Cpt #7
Yes
Outside
Yes

Neighborhood/Schools

Elementary School
Peabody
Junior High School
S.B. Jr.
High School
S.B. Sr.

Condition

Excellent
Yes
Good
Yes

Proximity

Near Bus
Yes
Near Park(s)
Yes
Near Shopping
Yes

Laundry

Laundry Room
Yes

Income/Expenses

Total Monthly Income
23795
Other Income
6600
Annual Income
290490
Gross Rent Multiplr
17.0
Capitalization Rate
3.7
Actual
Yes
Taxes
5250
Insurance
10200
Water Expense
12750
Electric Expense
1450
Gas Expense
0
Maintenance Expense
16500
Total Monthly Exp
8990
Total Annual Exp
107900
NOI
183040

Heating

Elec
Yes
Radia
Yes

Zoning

Other
Yes

Reports Available

Home Inspection
Yes
Pest Inspection
Yes
Roof
Yes

Terms

Cash
Yes
Conventional
Yes

Listing Type

ER
Yes

Flr/Wdw Coverings

Carpet
Yes
Wood/Laminate
Yes
Vinyl Plank
Yes

Contingent Remarks

REPORTS
Yes

Owner Provides

Water
Yes
Trash
Yes

Exchange

Yes
Yes

Property Features

Condition: Excellent; Good Parking Info: Gar #2; Cpt #7; Outside Proximity: Near Bus; Near Park(s); Near Shopping Laundry: Laundry Room Heating: Elec; Radia Owner Provides: Water; Trash Zoning: Other Reports Available: Home Inspection; Pest Inspection; Roof Exchange: Yes Terms: Cash; Conventional Listing Type: ER Contingent Remarks: REPORTS
IDX
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: September - 15 - 2024
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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