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20-80 Oceano Avenue, SANTA BARBARA, CA 93109

$21,150,000
Property Type: Res Inc Square Footage: 34,768 Lot Size (sq. ft.): 38,768 Status: Closed
Current Price: $21,150,000 List Date: 8/19/2024 Last Modified: 4/24/2025

Description

Nestled in the vibrant and picturesque Mesa neighborhood of Santa Barbara, Sea Cliff Apartments offers a unique and highly coveted investment opportunity. This expansive oceanfront property, comprising 29 meticulously designed units, is just steps away from the pristine sands of Leadbetter Beach, seamlessly combining high rental demand with luxurious lifestyle amenities. Each residence is thoughtfully crafted to optimize space and rental potential, nine of them are short term vacation rentals, which are equipped with top-tier amenities. Select units boast private balconies, some with hot tubs, providing tenants with exclusive comfort and leisure.

Supplements: Monthly Long Term Tenant Income: $73,858 Estimated Monthly Vacation Rental Income: $72,000 TOTAL: $145,858/month; $291,176 annuaThe complex also includes a stunning oceanfront rooftop deck, perfect for events and social gatherings, enhancing its allure as a desirable living destination. Strategically positioned within walking distance to an array of restaurants, shopping centers, and entertainment venues, Sea Cliff Apartments offers tenants unparalleled access to the finest coastal lifestyle Santa Barbara has to offer. This blend of convenience, luxury, and prime location makes Sea Cliff Apartments a standout investment in the thriving beachfront community of The Mesa. Please do not disturb tenants. Call to Offers September 19, 2024.

More Information MLS# 24-2721

Location Info

Country: US Compass Map: Santa Barbara Map Grid: O14 Cross Street: Shoreline District: 15 - SB/EAST OF STATE Street #: 20-80 Street Name: Oceano Street Suffix: Avenue State: CA Postal Code: 93109 County: Santa Barbara Parcel Number: 045-230-028

Property Information

Year Built: 1970 Apx Lot SqFt: 38768 Main House SqFt: 34768 Recurring Fees: No Number of Units: 29

Neighborhood/Schools

Elementary School: Washington Junior High School: LaCumbre High School: S.B. Sr.

Owner Info

Deposit: 3

Remarks

COVID Showing Remarks: Call to Offers: September 19, 2024 Hot Sheet Comment: new

Condition

Excellent: 1

Laundry

Some: 1

Amenities

Deck: 1 Patio: 1 Spa: 1 Beach Front: 1 Washer: 1 Dryer: 1

Unit 1

# Units: 11 # Bedrooms: 1 # Baths: 1 # Half Baths: 0 Furnished: N Rent: 31932 Monthly Total: 27932

Income/Expenses

Total Monthly Income: 145858 Annual Income: 1750296 NOI: 981293

Unit 2

# Units: 5 # Bedrooms: 3 # Baths: 2 # Half Baths: 0 Rent: 48500

Zoning

Other: 1

Reports Available

Home Inspection: 1 Pest Inspection: 1 Prelim: 1

Terms

Cash: 1 Conventional: 1

Listing Type

ER: 1

Unit 3

# Units: 5 # Bedrooms: 2 # Baths: 2 Rent: 38000

Unit 4

# Units: 7 # Bedrooms: 2 # Baths: 1 Furnished: Y Rent: 27426

Flr/Wdw Coverings

Carpet: 1 Hardwood: 1 Tile: 1 Stone: 1 Other: 1

Contract Info

Current Price: $21,150,000 Price: 25000000 Begin Date: 2024-08-19 Status: Closed

Status Information

Sold Date: 2025-02-05 Sold Price: $21,150,000 Under Contract Date: 2024-10-22

Property Features

Condition: Excellent Laundry: Some Amenities: Deck; Patio; Spa; Beach Front; Washer; Dryer Zoning: Other Reports Available: Home Inspection; Pest Inspection; Prelim Terms: Cash; Conventional Listing Type: ER
Listing Office: Radius Group Commercial R.E.
IDX
Last Updated: April - 24 - 2025
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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