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:
9/15/2024
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
Country: US
Compass Map: Santa Barbara
Map Grid: N12
Cross Street: Castillo Street
District: 20 - SB/WEST OF STATE
Street #: 410
Dir: W
Street Name: Micheltorena
Street Suffix: Street
State: CA
Postal Code: 93101
County: Santa Barbara
Parcel Number: 027-211-011
Contract Info
Buyers Agent $/%: 2
Current Price: $5,225,000
Price: 5285000
Begin Date: 2018-10-25
Status: Closed
Property Information
Year Built: 1968
Stories: 2
Apx Lot SqFt: 15552
Recurring Fees: No
Number of Units: 12
Neighborhood/Schools
Elementary School: Peabody
Junior High School: S.B. Jr.
High School: S.B. Sr.
Owner Info
Deposit: 123000
Remarks
Hot Sheet Comment: price
Condition
Excellent: 1
Foundation
Other: 1
Miscellaneous
Parking Spaces: 17
# Refrigerators: 14
# Stoves: 14
Proximity
Near Bus: 1
Near Hospital: 1
Near Park(s): 1
Near Shopping: 1
Laundry
Laundry Room: 1
Amenities
Patio: 1
Cable TV: 1
Ovens/Bltin: 1
Washer: 1
Dryer: 1
Refrigerator: 1
220V: 1
Fncd Prt: 1
Unit 1
# Units: 3
# Bedrooms: 2
# Baths: 2
# Half Baths: 0
Furnished: N
Rent: 8370
Lease: 1
Monthly Total: 31820
Income/Expenses
Total Monthly Income: 31820
Other Income: 4325
Annual Income: 381840
Gross Rent Multiplr: 15
Capitalization Rate: 5.0
Estimated: 1
Vac Factor: <1%
Taxes: 29815
Insurance: 3500
Total Annual Exp: 66362
NOI: 264348
Security
Smoke Detector(s): 1
Heating
Heat Other: 1
Unit 2
# Units: 4
# Bedrooms: 2
# Baths: 1
Rent: 10200
Lease: 1
Monthly Total: 31820
Zoning
Other: 1
Terms
Cash: 1
Conventional: 1
Ctel: 1
Listing Type
ER: 1
Unit 3
# Units: 6
# Bedrooms: 1
# Baths: 1
Rent: 11775
Lease: 1
Monthly Total: 31820
Unit 4
# Units: 1
# Bedrooms: 0
# Baths: 1
Rent: 1475
Lease: 1
Monthly Total: 31820
Meters
Sep Meter Wtr: N
Sep Meter Gas: Yes
Parking Info
Detached: 1
Total # Carport Spaces: 16
Flr/Wdw Coverings
Carpet: 1
Wood/Laminate: 1
Pub Listing Details
None: 1
Status Information
Sold Date: 2020-01-29
Sold Price: $5,225,000
Under Contract Date: 2019-11-08
NeighborhoodSchools
Neighborhood: 15 or 20 - Downtown
Property Features
Unit 1: Lease
Unit 2: Lease
Unit 3: Lease
Unit 4: Lease
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
Security: Smoke Detector(s)
Heating: Heat Other
Zoning: Other
Terms: Cash; Conventional; Ctel
Listing Type: ER
Pub Listing Details: None
Listing Office:
Goodwin & Thyne Properties
Last Updated: September - 15 - 2024
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