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$6,395,000
230-234 Castillo St
SANTA BARBARA, CA 93101
MLS# 19-3132
Status: Closed



230-234 Castillo St, SANTA BARBARA, CA 93101
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230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101 230-234 Castillo St, SANTA BARBARA, CA 93101

Property Description
This superbly located West Beach apartment property — central to the harbor, Waterfront, Funk Zone, City College and downtown — has been rented as a 21-unit complex for decades. A current ZIR by the City of Santa Barbara determined there are 18 permitted residential units with 3 studios to be combined with adjacent units to meet code compliance, which shall be the buyer's responsibility. However, the economic impact is positive as current management has been conservative with rents. The financial analysis on the following page represents current rents with 21 units. This property is well maintained, and the average tenancy of the current residents is 4 years. See attachments for more details and a confidentiality agreement that must be signed prior to receiving full due diligence package.

Details
Maps
Documents
Location Info
District: 20 - SB/WEST OF STATE
Street #: 230-234
Street Name: Castillo
Street Suffix: St
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O13
County: Santa Barbara
Parcel Number: 033-031-002
Cross Street: W Montecito St
Contract Info
Current Price: $6,395,000
Price: 6395000
Financing: Exchange
Begin Date: 2019-09-04
Status: Closed
Status Information
Sold Date: 2019-12-13
Sold Price: $6,395,000
Under Contract Date: 2019-10-01
Property Information
Number of Units: 21
Year Built: 2000
Recurring Fees: No
Neighborhood/Schools
Elementary School: Washington
Junior High School: LaColina
High School: S.B. Sr.
Remarks
Hot Sheet Comment: new
Unit 1
# Units: 6
# Bedrooms: 2
# Baths: 1
Furnished: N
Rent: 2550
Monthly Total: 2550
Unit 2
# Units: 10
# Bedrooms: 1
# Baths: 1
Rent: 1600
Unit 3
# Units: 5
# Bedrooms: 1
# Baths: 1
Rent: 1650
Income/Expenses
Annual Income: 253803
Property Features
Zoning: R-3
Terms: OTHER/CLA
Listing Type: ER

Listing Office: Hayes Commercial Group

Last Updated: November - 04 - 2020

230-234 Castillo St, SANTA BARBARA, CA 93101 - MLS# 19-3132

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