234 S Voluntario Street, SANTA BARBARA, CA 93103 (MLS# 15-3222)

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234 S Voluntario Street, SANTA BARBARA, CA 93103

$5,725,000

Property Type: Res Inc Lot Size (sq. ft.): 28,314 Status: Closed

Current Price: $5,725,000 List Date: 9/24/2015 Last Modified: 9/15/2024

Overview

Description

New Listing! 20 Units with excellent cash flow & high rate of return! Actual GRM: 12.97 (Market GRM: 11.93). Actual Cap Rate: 4.87% (Market Cap Rate: 5.48%). Offering consists of 2 buildings on 2 parcels. Built in 1966 & 1972. Unit Mix: 4(3BD/1.5BA), 14(2BD/1.5BA Townhouse-Style), 1(2BD/1.5BA), & 1(1BD/1BA). Amenities include onsite laundry & parking. In Total, there are 21 open parking spaces.

Listing Details MLS# 15-3222

Location Info

District: 15 - SB/EAST OF STATE
Street #: 234
Dir: S
Street Name: Voluntario
Street Suffix: Street
State: CA
Country: US
Postal Code: 93103
Compass Map: Santa Barbara
Map Grid: Q12
County: Santa Barbara
Parcel Number: 017-252-024
Cross Street: Indio Muerto Street

Contract Info

Price: 5750000
Buyers Agent $/%: 2
Begin Date: 2015-09-24

Status Information

Sold Date: 2016-01-14
Under Contract Date: 2015-11-04

Property Information

Number of Units: 20
Stories: 2
Year Built: 1972
Apx # Acres: 0.65
Apx Lot SqFt: 28314
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 15 - Lower Eastside

Remarks

Hot Sheet Comment: new

More Information

Owner Info

Deposit: 150000

Miscellaneous

Parking Spaces: 21

Unit 1

# Units: 4
# Bedrooms: 3
# Baths: Yes
# Half Baths: Yes
Furnished: N
Rent: 2210
Monthly Total: 8835
Lease: Yes

Unit 2

# Units: 14
# Bedrooms: 2
# Baths: Yes
# Half Baths: Yes
Furnished: N
Rent: 1760
Monthly Total: 24650
Lease: Yes

Unit 3

# Units: Yes
# Bedrooms: 2
# Baths: Yes
# Half Baths: Yes
Furnished: N
Rent: 1875
Monthly Total: 1875
Lease: Yes

Unit 4

# Units: Yes
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 1595
Monthly Total: 1595
# Half Baths: 0
Lease: Yes

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: No

Neighborhood/Schools

Elementary School: Cleveland
Junior High School: S.B. Jr.
High School: S.B. Sr.

Condition

Good: Yes

Foundation

Slab: Yes

Proximity

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

Laundry

Laundry Room: Yes

Amenities

Deck: Yes
Patio: Yes
Elec Stove: Yes
Dishwasher: Yes
Refrigerator: Yes

Income/Expenses

Total Monthly Income: 36955
Other Income: 1625
Annual Income: 462960
Gross Rent Multiplr: 12.97
Capitalization Rate: 4.87
Actual: Yes
NOI: 280037

Heating

Elec: Yes

Cooling

Ceiling Fan(s): Yes

Zoning

R-3: Yes

Terms

Cash: Yes
Conventional: Yes
Ctel: Yes

Listing Type

ER: Yes

Parking Info

Outside: Yes
Unc #5: Yes

Flr/Wdw Coverings

Carpet: Yes
Wood/Laminate: Yes

Pub Listing Details

None: Yes

Owner Provides

Water: Yes
Trash: Yes

Property Features

Unit 1: Lease Unit 2: Lease Unit 3: Lease Unit 4: Lease Condition: Good Foundation: Slab Parking Info: Outside; Unc #5 Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: Laundry Room Amenities: Deck; Patio; Elec Stove; Dishwasher; Refrigerator Cooling: Ceiling Fan(s) Heating: Elec Owner Provides: Water; Trash Zoning: R-3 Terms: Cash; Conventional; Ctel Listing Type: ER Pub Listing Details: None

Listing Office: The Channel Group

Last Updated: September - 15 - 2024

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