2165 Ortega Hill Road, SUMMERLAND, CA 93067 (MLS# 22-2196)

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2165 Ortega Hill Road, SUMMERLAND, CA 93067

$4,350,000

Property Type: Commercial Sale Baths: 1 Square Footage: 7,850 Lot Size (sq. ft.): 26,571 Status: Closed

Current Price: $4,350,000 List Date: 7/01/2022 Last Modified: 9/17/2024

Overview

Description

1st Time on the Market in 26 Years! This 41 Unit Self Storage in a great Summerland location, is a true legacy & trophy asset that rarely come available & represents an incredible investment opportunity! Conveniently located off Hwy 101 & adjacent to UC Regents recently acquired 28 acre bluff top ''campus'' with 122,000 SF of office buildings. All units are drive up with exterior roll up doors, w/ a great unit mix: 10 - 10' x 15', and 31 - 10' x 20' sized units. Extremely strong market fundamentals w/ little to no vacancy in the 13 mile trade area. Current rents are below market, thus allowing for a true value add opportunity at 5.16 pro forma cap rate for an investor. All tenants are mo/mo, allowing an owner user to occupy some or all of the units. A tremendous & rare offering!

Listing Details MLS# 22-2196

Location Info

District: 05 - CARPINTERIA-SUMMERLAND
Street #: 2165
Street Name: Ortega Hill
Street Suffix: Road
State: CA
Country: US
Postal Code: 93067
Compass Map: Santa Barbara
Map Grid: U12
County: Santa Barbara
Parcel Number: 005-121-005
Cross Street: Pierpont

Contract Info

Price: 3850000
Buyers Agent $/%: 2.25
Begin Date: 2022-06-30

Property Information

TYP: Business
For Sale/Lease: For Sale
Year Built: 1990
#Offices: Yes
Total Bathrooms: Yes
Gross Sq Ft: 7850
Nt Rt Sq Ft.: 7850
Total SqFt.: 7850
Apx Lot SqFt: 26571

Owner Info

Deposit: 115500

Remarks

Directions: Adjacent to Hwy 101 - behind the Summerland Inn.
Hot Sheet Comment: new

Status Change Info

Sold Date: 2022-08-05
Under Contract Date: 2022-07-14

More Information

Condition

Good: Yes

Use

Other: Yes

Zoning

C-1: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Owner Pays

Elec: Yes
Wtr: Yes
Taxes: Yes
Ins: Yes
Ext Main: Yes
Prk Area: Yes

Parking

Uncovrd: Yes

Reports

Prelim: Yes
Roof: Yes

Property Features

Use: Other Zoning: C-1 Condition: Good Owner Pays: Elec; Wtr; Taxes; Ins; Ext Main; Prk Area Parking: Uncovrd Reports: Prelim; Roof Terms: Cash; Conventional Listing Type: ER

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: September - 17 - 2024

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