410 W Micheltorena Street, SANTA BARBARA, CA 93101
$5,225,000
Property Type:
Res Inc
Lot Size (sq. ft.):
15,552
Status:
Closed
Current Price:
$5,225,000
List Date:
10/25/2018
Last Modified:
1/29/2020
Description
This recently updated 12+ unit Downtown Santa Barbara multi-family investment generates a great return but still has room to grow in rental income. This beautiful property conveniently located near highways and downtown features a 12,014 square foot building with 16 covered parking spaces, onsite laundry, and lovely landscaped grounds . New flooring, updated kitchens/baths, fresh paint and close to market rents with room to grown makes this an excellent opportunity!! There is an assumable loan of approximately $3,200,000 at 3.8%!
More Information MLS# 18-3879
Location Info
District: 20 - SB/WEST OF STATE
Street #: 410
Dir: W
Street Name: Micheltorena
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 027-211-011
Cross Street: Castillo Street
Contract Info
Current Price: $5,225,000
Price: 5285000
Buyers Agent $/%: 2
Begin Date: 2018-10-25
Status: Closed
Status Information
Sold Date: 2020-01-29
Sold Price: $5,225,000
Under Contract Date: 2019-11-08
Property Information
Number of Units: 12
Stories: 2
Year Built: 1968
Apx Lot SqFt: 15552
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 15 or 20 - Downtown
Elementary School: Peabody
Junior High School: S.B. Jr.
High School: S.B. Sr.
Remarks
Hot Sheet Comment: price
Owner Info
Deposit: 123000
Miscellaneous
Parking Spaces: 17
# Refrigerators: 14
# Stoves: 14
Unit 1
# Units: 3
# Bedrooms: 2
# Baths: 2
Furnished: N
Rent: 8370
Monthly Total: 31820
Unit 2
# Units: 4
# Bedrooms: 2
# Baths: 1
Rent: 10200
Monthly Total: 31820
Unit 3
# Units: 6
# Bedrooms: 1
# Baths: 1
Rent: 11775
Monthly Total: 31820
Unit 4
# Units: 1
# Baths: 1
Rent: 1475
Monthly Total: 31820
Income/Expenses
Total Monthly Income: 31820
Other Income: 4325
Annual Income: 381840
Gross Rent Multiplr: 15
Capitalization Rate: 5.0
Vac Factor: <1%
Taxes: 29815
Insurance: 3500
Total Annual Exp: 66362
NOI: 264348
Meters
Sep Meter Wtr: N
Sep Meter Gas: Yes
Parking Info
Total # Carport Spaces: 16
Property Features
Unit 1: Lease
Unit 2: Lease
Unit 3: Lease
Unit 4: Lease
Income/Expenses: Estimated
Condition: Excellent
Foundation: Other
Parking Info: Detached
Proximity: Near Bus; Near Hospital; Near Park(s); Near Shopping
Laundry: Laundry Room
Amenities: Patio; Ovens/Bltin; Washer; Dryer; Refrigerator; 220V; Cable TV; Fncd Prt
Flr/Wdw Coverings: Carpet; Wood/Laminate
Security: Smoke Detector(s)
Heating/Cooling: Heat Other
Zoning: Other
Terms: Cash; Ctnl; Ctel
Listing Type: ER
Pub Listing Details: None
Listing Office: Goodwin & Thyne Properties
Last Updated: January - 29 - 2020
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