2525 Banner Avenue, SUMMERLAND, CA 93067
$2,900,000
Property Type:
Res Inc
Square Footage:
1,924
Lot Size (sq. ft.):
9,148
Status:
Closed
Current Price:
$2,900,000
List Date:
10/23/2021
Last Modified:
2/13/2023
Description
The possibilities are endless with this beautiful seaside multi-unit property!
Currently operated as a short-term rental with great cash flow. Each unit has private entrance, full kitchen, and balcony with incredible ocean and island views.
Upper unit 'Sky' is 1bed/1bath with valued ceilings and ocean views from every room. 'Sand' unit is lower level 1bed/1bath with the best deck on the property. 'Surf' unit is the largest unit with 2bd/1bath, great natural light and expansive outdoor area.
The property is walking distance to restaurants and shopping in Summerland, and only a few minutes from Montecito and Santa Barbara.
More Information MLS# 21-3927
Location Info
District: 05 - CARPINTERIA-SUMMERLAND
Street #: 2525
Street Name: Banner
Street Suffix: Avenue
State/Province: CA
Postal Code: 93067
Compass Map: Santa Barbara
Map Grid: V12
County: Santa Barbara
Parcel Number: 005-203-002
Cross Street: Olive St.
Contract Info
Current Price: $2,900,000
Price: 2950000
Buyers Agent $/%: 2.5
Begin Date: 2021-10-23
Status: Closed
Status Information
Sold Date: 2021-12-17
Sold Price: $2,900,000
Under Contract Date: 2021-10-24
Property Information
Number of Units: 3
Main House SqFt: 1924
Apx # Acres: 0.21
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 05 - Summerland
Elementary School: Summerland
Junior High School: Carp. Jr.
High School: Carp. Sr.
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 3
# Refrigerators: 3
# Stoves: 3
Unit 1
# Units: 3
# Bedrooms: 4
# Baths: 3
Furnished: Y
Rent: 13500
Monthly Total: 13500
Income/Expenses
Total Monthly Income: 13500
Annual Income: 162000
Capitalization Rate: 4
Insurance: 155
Water Expense: 120
Electric Expense: 160
Gas Expense: 50
Trash Expense: 110
Maintenance Expense: 160
Total Monthly Exp: 1000
Meters
Sep Meter Elec: Y
Sep Meter Gas: Yes
Parking Info
Total # Unconvered Spaces: 3
Property Features
Condition: Excellent
Foundation: Pier & Post
Parking Info: Mixed
Proximity: Near Bus; Near Ocean; Near Shopping
Laundry: Other
Amenities: Deck; Patio; Dishwasher; Microwave; Refrigerator; Cable TV
Flr/Wdw Coverings: Wood/Laminate
Heating/Cooling: Heat Other; A/C Other
Pets: No
Owner Provides: Heat; Elec; Gas; Water; Trash; Cbl TV
Zoning: R-2
Reports Available: Pest Inspection; Prelim
Exchange: Yes
Terms: Cash
Listing Type: ER
Pub Listing Details: None
Contingent Remarks: EXCHANGE
Surf Floor Plan ›Listing Office: Compass First, Inc.
Last Updated: February - 13 - 2023
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