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2165 Ortega Hill Road, SUMMERLAND, CA 93067

$4,350,000
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
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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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