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:
11/02/2022
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.
More Information MLS# 22-2271
Location Info
District: 20 - SB/WEST OF STATE
Street #: 321
Dir: W
Street Name: Padre
Street Suffix: Street
State/Province: CA
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 025-292-004
Cross Street: Mission Street
Contract Info
Current Price: $5,750,000
Price: 5750000
Buyers Agent $/%: 2.5
Begin Date: 2022-07-06
Status: Closed
Status Information
Sold Date: 2022-11-02
Sold Price: $5,750,000
Under Contract Date: 2022-07-25
Property Information
Number of Units: 11
Year Built: 1962
Apx # Acres: 0.32
Recurring Fees: No
Neighborhood/Schools
Elementary School: Peabody
Junior High School: S.B. Jr.
High School: S.B. Sr.
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 15
Unit 1
# Units: 12
# Bedrooms: 12
# Baths: 12
Furnished: N
Rent: 27245
Monthly Total: 27245
Property Features
Zoning: R-4
Terms: Cash
Listing Type: Open
Contingent Remarks: EXCHANGE
Documents
Listing Office: Brian Delshad, Broker
Last Updated: November - 02 - 2022
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