255 ELLWOOD BEACH Drive, GOLETA, CA 93117 (MLS# 11-3296)

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255 ELLWOOD BEACH Drive, GOLETA, CA 93117

$6,700,000

Property Type: Res Inc Lot Size (sq. ft.): 27,878 Status: Closed

Current Price: $6,700,000 List Date: 9/27/2011 Last Modified: 9/15/2024

Overview

Description

Great opportunity to acquire 2 well-maintained apartment complexes on l lot located adjacent to Ellwood Beach Preserve. Consisting of a 15 unit complex & 16 unit complex. Unit Mix: 8(2BD/2BA), 2(2BD/1BA), 20(1BD/1BA) & 1(Studio). The neighborhood serves as a vital rental community to UCSB & local workforce. 24 open parking spaces, 10 carports & 2 garages.

Listing Details MLS# 11-3296

Location Info

District: 30 - SB/GOL SOUTH
Street #: 255
Street Name: ELLWOOD BEACH
Street Suffix: Drive
State: CA
Country: US
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: D11
County: Santa Barbara
Parcel Number: 079-552-037
Cross Street: Hollister Avenue

Contract Info

Price: 6750000
Buyers Agent $/%: 2
Begin Date: 2011-09-27

Status Information

Sold Date: 2012-10-18
Under Contract Date: 2012-02-27

Property Information

Number of Units: 31
Stories: 2
Apx # Acres: 0.64
Apx Lot SqFt: 27878
Year Built: 0

Assessor's Data

Assessor Lot Acres: 0.64
Assessor Year Built: 0
Assessor SqFt: 0

NeighborhoodSchools

Neighborhood: 30 - Ellwood/Santa Barbara Shores

More Information

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 150000

Miscellaneous

Parking Spaces: 36

Unit 1

# Units: 8
# Bedrooms: 2
# Baths: 2
Furnished: N
Rent: 1800
Monthly Total: 14210
# Half Baths: 0

Unit 2

# Units: 2
# Bedrooms: 2
# Baths: Yes
Furnished: N
Rent: 1725
Monthly Total: 3445
# Half Baths: 0

Unit 3

# Units: 20
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 1300
Monthly Total: 26010
# Half Baths: 0

Unit 4

# Units: Yes
# Baths: Yes
Furnished: N
Rent: 995
Monthly Total: 995
# Bedrooms: 0
# Half Baths: 0

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes

Neighborhood/Schools

Elementary School: Other
Junior High School: Gol Valley
High School: Dos Pueblos

Condition

Good: Yes

Foundation

Slab: Yes

Proximity

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

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 44660
Other Income: 1050
Annual Income: 548520
Gross Rent Multiplr: 12.31
Capitalization Rate: 5.45%
Actual: Yes
Vac Factor: 2.5%
Taxes: 72900
Insurance: 4500
Water Expense: 8929
Electric Expense: 1755
Gas Expense: 3302
Trash Expense: 3691
Maintenance Expense: 15500
Total Annual Exp: 163808
NOI: 368,527

Heating

Wall: Yes

Zoning

Other: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Parking Info

Carport: Yes
Garage: Yes
Cpt #5: Yes
Outside: Yes
Unc #5: Yes

Flr/Wdw Coverings

Carpet: Yes
Hardwood: Yes
Tile: Yes
Vinyl Plank: Yes

Owner Provides

Water: Yes
Trash: Yes

Exchange

Poss: Yes

Property Features

Condition: Good Foundation: Slab Parking Info: Carport; Garage; Carport; Cpt #5; Outside; Unc #5 Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: Laundry Room Heating: Wall Owner Provides: Water; Trash Zoning: Other Exchange: Poss Terms: Cash; Conventional Listing Type: ER

Listing Office: The Channel Group

Last Updated: September - 15 - 2024

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