321 W Padre Street, SANTA BARBARA, CA 93105 (MLS# 22-2271)

Your search results

321 W Padre Street, SANTA BARBARA, CA 93105

$5,750,000

Property Type: Res Inc Lot Size (sq. ft.): 13,939 Status: Closed

Current Price: $5,750,000 List Date: 7/07/2022 Last Modified: 9/15/2024

Overview

Description

Rare opportunity to acquire a turnkey asset of this size in an attractive Santa Barbara location near Cottage Hospital. This two-story building consists of one (1) 2 bed 1 bath unit and ten (10) 1 bedroom 1 bath unit. Property also has convenient onsite parking for tenants and common laundry room. Great neighborhood near parks, shopping, easy freeway access and more. The lower level apartments have private garden areas. Plenty of upside in income and low carrying costs. Currently, the property is being operated as 12 units with one studio unit being non-conforming. Possibility of assuming current mortgage of $2.09mm at 4.28%. RECENT UPDATES: Seismic retrofit, freshly painted exterior, updated/drought resistant landscaping, and new digital laundry machines.

Listing Details MLS# 22-2271

Location Info

District: 20 - SB/WEST OF STATE
Street #: 321
Dir: W
Street Name: Padre
Street Suffix: Street
State: CA
Country: US
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 025-292-004
Cross Street: Mission Street

Contract Info

Price: 5750000
Buyers Agent $/%: 2.5
Begin Date: 2022-07-06

Status Information

Sold Date: 2022-11-02
Under Contract Date: 2022-07-25

Property Information

Number of Units: 11
Year Built: 1962
Apx # Acres: 0.32
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Miscellaneous

Parking Spaces: 15

Unit 1

# Units: 12
# Bedrooms: 12
# Baths: 12
Furnished: N
Rent: 27245
Monthly Total: 27245
# Half Baths: 0

Neighborhood/Schools

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

Zoning

R-4: Yes

Terms

Cash: Yes

Listing Type

Open: Yes

Contingent Remarks

EXCHANGE: Yes

Property Features

Zoning: R-4 Terms: Cash Listing Type: Open Contingent Remarks: EXCHANGE

Documents

Offering Memorandum ›

Listing Office: Brian Delshad, Broker

Last Updated: September - 15 - 2024

The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.