283 Ellwood Beach Drive, GOLETA, CA 93117 (MLS# 23-21)

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283 Ellwood Beach Drive, GOLETA, CA 93117

$4,000,000

Property Type: Res Inc Lot Size (sq. ft.): 10,019 Status: Closed

Current Price: $4,000,000 List Date: 1/04/2023 Last Modified: 9/15/2024

Overview

Description

Price just reduced $200k! 283 Ellwood Beach Drive is a garden style 2-story stucco apartment complex totaling 12 units that has been held by the same ownership group for 45 years. Convenient location for tenants with easy access to UCSB, major tech employers, Camino Real Marketplace and Monarch Butterfly Grove. Features (11) 1BD/1BA apartments and (1) studio with a mix of carport and uncovered parking along with onsite laundry room. Building is all electric and has individual electric meters and individual water heaters. Recent improvements include all new asphalt driveway, sewer lateral repaired, section 1 pest spot treatment completed. Roof is 10 years old. Current rents below market. Two units to be left vacant through close of escrow offering new owner immediate opportunity to remodel.

Listing Details MLS# 23-21

Location Info

District: 30 - SB/GOL SOUTH
Street #: 283
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: 079-552-028
Cross Street: Hollister
Bike Score: 90

Contract Info

Price: 4150000
Financing: Cash
Buyers Agent $/%: 2.25
Begin Date: 2023-01-04

Status Information

Sold Date: 2023-04-17
Under Contract Date: 2023-03-01

Property Information

Number of Units: 12
Stories: 2
Year Built: 1970
Apx # Acres: 0.27
Apx Lot SqFt: 10019
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 30 - Ellwood/Santa Barbara Shores

Remarks

Hot Sheet Comment: price

More Information

Owner Info

Deposit: 3

Miscellaneous

Parking Spaces: 12
# Refrigerators: 12
# Stoves: 12

Unit 1

# Units: Yes
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 1900
Monthly Total: 21195
# Half Baths: 0
M/M: Yes
Lease: Yes

Unit 2

# Units: Yes
Rent: 1725
Monthly Total: 1725
# Bedrooms: 0
M/M: Yes

Meters

Sep Meter Elec: Y

Parking Info

Total # Carport Spaces: 3
Carport: Yes
Outside: Yes

Neighborhood/Schools

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

Condition

Good: Yes
Average: Yes

Foundation

Slab: Yes

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 22920
Capitalization Rate: 4.07

Heating

Wall: Yes

Zoning

Other: Yes

Reports Available

Home Inspection: Yes
Pest Inspection: Yes
Prelim: Yes
NHD: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Flr/Wdw Coverings

Carpet: Yes
Vinyl Plank: Yes

Owner Provides

Water: Yes
Trash: Yes

Property Features

Unit 1: M/M; Lease Unit 2: M/M Condition: Good; Average Foundation: Slab Parking Info: Carport; Carport; Outside Laundry: Laundry Room Heating: Wall Owner Provides: Water; Trash Zoning: Other Reports Available: Home Inspection; Pest Inspection; Prelim; NHD Terms: Cash; Conventional Listing Type: ER

Documents

Flyer ›

Listing Office: Beachside Partners

Last Updated: September - 15 - 2024

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