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
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!
More Information MLS# 18-3671
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: O12
Cross Street: Victoria
District: 20 - SB/WEST OF STATE
Street #: 1315
Street Name: Bath
Street Suffix: Street
State: CA
Postal Code: 93101
County: Santa Barbara
Parcel Number: 039-112-011
Contract Info
Financing: Cash
Buyers Agent $/%: 2.5
Current Price: $4,650,000
Price: 4950000
Begin Date: 2018-10-09
Status: Closed
Property Information
Year Built: 1966
Main House SqFt: 9050
Recurring Fees: No
Number of Units: 12
Neighborhood/Schools
Elementary School: Peabody
Junior High School: S.B. Jr.
High School: S.B. Sr.
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Condition
Excellent: 1
Good: 1
Miscellaneous
Parking Spaces: 19
Proximity
Near Bus: 1
Near Park(s): 1
Near Shopping: 1
Laundry
Laundry Room: 1
Unit 1
# Units: 8
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 1718
Monthly Total: 13745
Income/Expenses
Total Monthly Income: 23795
Other Income: 6600
Annual Income: 290490
Gross Rent Multiplr: 17.0
Capitalization Rate: 3.7
Actual: 1
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: 1
Radia: 1
Unit 2
# Units: 2
# Bedrooms: 2
# Baths: 2
# Half Baths: 0
Furnished: N
Rent: 2375
Monthly Total: 4750
Zoning
Other: 1
Reports Available
Home Inspection: 1
Pest Inspection: 1
Roof: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Unit 3
# Units: 2
# Bedrooms: 2.8
# Baths: 2
# Half Baths: 0
Furnished: N
Rent: 2600
Monthly Total: 5200
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Parking Info
Gar #2: 1
Cpt #7: 1
Outside: 1
Total # Carport Spaces: 7
Total # Garage Spaces: 2
Total # Unconvered Spaces: 10
Flr/Wdw Coverings
Carpet: 1
Wood/Laminate: 1
Vinyl: 1
Contingent Remarks
REPORTS: 1
Owner Provides
Water: 1
Trash: 1
Exchange
Yes: 1
Status Information
Sold Date: 2018-11-06
Sold Price: $4,650,000
Under Contract Date: 2018-10-13
NeighborhoodSchools
Neighborhood: 15 or 20 - Downtown
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
Documents
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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