2165 Ortega Hill Road, SUMMERLAND, CA 93067
$4,350,000
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Property Type:
Comm/Ofc
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:
8/08/2022
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!
More Information MLS# 22-2196
Location Info
District: 05 - CARPINTERIA-SUMMERLAND
Street #: 2165
Street Name: Ortega Hill
Street Suffix: Road
State/Province: CA
Postal Code: 93067
Compass Map: Santa Barbara
Map Grid: U12
County: Santa Barbara
Parcel Number: 005-121-005
Cross Street: Pierpont
Contract Info
Current Price: $4,350,000
Price: 3850000
Buyers Agent $/%: 2.25
Begin Date: 2022-06-30
Status: Closed
Property Information
TYP: Commercial
For Sale/Lease: For Sale
Year Built: 1990
#Offices: 1
Total Bathrooms: 1
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
Sold Price: $4,350,000
Under Contract Date: 2022-07-14
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; Ctnl
Listing Type: ER
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: August - 08 - 2022
![2165 Ortega Hill Road, SUMMERLAND, CA 93067- MLS# 22-2196 2165 Ortega Hill Road, SUMMERLAND, CA 93067- MLS# 22-2196](https://cdn.photos.sparkplatform.com/sbr/20160726154436565567000000.jpg)
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