20-80 Oceano Avenue, SANTA BARBARA, CA 93109 (MLS# 24-2721)

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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

Overview

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 arra ... (Read more)

Listing Details MLS# 24-2721

Location Info

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

Contract Info

Price: 25000000
Begin Date: 2024-08-19

Status Information

Sold Date: 2025-02-05
Under Contract Date: 2024-10-22

Property Information

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

Remarks

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

Owner Info

Deposit: 3

More Information

Unit 1

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

Unit 2

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

Unit 3

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

Unit 4

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

Neighborhood/Schools

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

Condition

Excellent: Yes

Laundry

Some: Yes

Amenities

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

Income/Expenses

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

Zoning

Other: Yes

Reports Available

Home Inspection: Yes
Pest Inspection: Yes
Prelim: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Flr/Wdw Coverings

Carpet: Yes
Hardwood: Yes
Tile: Yes
Stone: Yes
Other: Yes

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

Documents

Preliminary Title Report ›

Physical Inspection Report ›

Termite Inspection Report ›

Listing Office: Radius Group Commercial R.E.

Last Updated: April - 24 - 2025

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