2011 Oak Avenue, SANTA BARBARA, CA 93101 (MLS# 24-733)

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2011 Oak Avenue, SANTA BARBARA, CA 93101

$2,750,000

Property Type: Res Inc Square Footage: 4,218 Lot Size (sq. ft.): 9,583 Status: Closed

Current Price: $2,750,000 List Date: 3/08/2024 Last Modified: 9/15/2024

Overview

Description

Located at the end of a quiet cul-de-sac in Santa Barbara's burgeoning Westside neighborhood, sits 2011 Oak Avenue. This ±4,218 SF Multifamily property features (8) 1 bedroom/1 bathroom units boasting spacious floor plans and private entrances, each flowing with an abundance of natural light. Upstairs units are peaked with cathedral ceilings and offer fireplaces and breathless mountain views. Tenants enjoy the ease of a recently paved 14-space parking lot, beautiful landscaping and convenient on-site laundry. The building has been very well maintained over the course of its longtime ownership. Current rents for these units are below market, offering an investor a fantastic opportunity for upside.

Listing Details MLS# 24-733

Location Info

District: 20 - SB/WEST OF STATE
Street #: 2011
Street Name: Oak
Street Suffix: Avenue
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 049-092-016
Cross Street: Modoc

Contract Info

Price: 2975000
Begin Date: 2024-03-08

Status Information

Sold Date: 2024-09-04
Under Contract Date: 2024-05-17

Property Information

Number of Units: 8
Year Built: 1973
Main House SqFt: 4218
Apx Lot SqFt: 9583
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Miscellaneous

Parking Spaces: 14

Unit 1

# Units: 8
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 14708
Monthly Total: 14708
# Half Baths: 0

Neighborhood/Schools

Elementary School: Adams
Junior High School: LaCumbre
High School: San Marcos

Condition

Good: Yes

Proximity

Near Bus: Yes
Near Ocean: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 14708
Annual Income: 176500

Zoning

Other: Yes

Reports Available

Pest Inspection: Yes
Prelim: Yes
Roof: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Property Features

Condition: Good Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: Laundry Room Zoning: Other Reports Available: Pest Inspection; Prelim; Roof Terms: Cash; Conventional Listing Type: ER

Listing Office: Radius Group Commercial R.E.

Last Updated: September - 15 - 2024

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