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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

Overview

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%!

Listing Details MLS# 18-3879

Location Info

District
20 - SB/WEST OF STATE
Street #
410
Dir
W
Street Name
Micheltorena
Street Suffix
Street
State
CA
Country
US
Postal Code
93101
Compass Map
Santa Barbara
Map Grid
N12
County
Santa Barbara
Parcel Number
027-211-011
Cross Street
Castillo Street

Contract Info

Price
5285000
Buyers Agent $/%
2
Begin Date
2018-10-25

Status Information

Sold Date
2020-01-29
Under Contract Date
2019-11-08

Property Information

Number of Units
12
Stories
2
Year Built
1968
Apx Lot SqFt
15552
Recurring Fees
No

NeighborhoodSchools

Neighborhood
15 or 20 - Downtown

Remarks

Hot Sheet Comment
price

More Information

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
# Half Baths
0
Lease
Yes

Unit 2

# Units
4
# Bedrooms
2
# Baths
Yes
Rent
10200
Monthly Total
31820
Lease
Yes

Unit 3

# Units
6
# Bedrooms
Yes
# Baths
Yes
Rent
11775
Monthly Total
31820
Lease
Yes

Unit 4

# Units
Yes
# Baths
Yes
Rent
1475
Monthly Total
31820
# Bedrooms
0
Lease
Yes

Meters

Sep Meter Wtr
N
Sep Meter Gas
Yes

Parking Info

Total # Carport Spaces
16
Detached
Yes

Neighborhood/Schools

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

Condition

Excellent
Yes

Foundation

Other
Yes

Proximity

Near Bus
Yes
Near Hospital
Yes
Near Park(s)
Yes
Near Shopping
Yes

Laundry

Laundry Room
Yes

Amenities

Patio
Yes
Cable TV
Yes
Ovens/Bltin
Yes
Washer
Yes
Dryer
Yes
Refrigerator
Yes
220V
Yes
Fncd Prt
Yes

Income/Expenses

Total Monthly Income
31820
Other Income
4325
Annual Income
381840
Gross Rent Multiplr
15
Capitalization Rate
5.0
Estimated
Yes
Vac Factor
<1%
Taxes
29815
Insurance
3500
Total Annual Exp
66362
NOI
264348

Security

Smoke Detector(s)
Yes

Heating

Heat Other
Yes

Zoning

Other
Yes

Terms

Cash
Yes
Conventional
Yes
Ctel
Yes

Listing Type

ER
Yes

Flr/Wdw Coverings

Carpet
Yes
Wood/Laminate
Yes

Pub Listing Details

None
Yes

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
IDX
Listing Office: Goodwin & Thyne Properties
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.

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