427 W Islay Street, SANTA BARBARA, CA 93101 (MLS# 23-2714)

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427 W Islay Street, SANTA BARBARA, CA 93101

$4,360,000

Property Type: Res Inc Lot Size (sq. ft.): 16,117 Status: Closed

Current Price: $4,360,000 List Date: 9/12/2023 Last Modified: 9/15/2024

Overview

Description

Sheri Apartments is a 22-unit multi-family building close to downtown Santa Barbara, 4 blocks west of State Street, and 5 blocks south of Santa Barbara Cottage Hospital. Very low cost per unit for Santa Barbara! Originally built in 1968, the property sits on a 16,117 SF lot, and the rentable space is approximately 7,088 SF. Property consists of (2) small 1Bed/1Bath and (20) studio units, all separately metered for electricity and gas. There are 22 uncovered parking spaces and a common laundry area. Property may be purchased with 3963 Via Lucero, a 16-unit apartment building which is also being sold by the same seller.

Listing Details MLS# 23-2714

Location Info

District: 20 - SB/WEST OF STATE
Street #: 427
Dir: W
Street Name: Islay
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 027-081-021
Cross Street: Castillo

Contract Info

Price: 6750000
Financing: CTNL
Buyers Agent $/%: 2
Begin Date: 2023-09-11

Status Information

Sold Date: 2023-12-15
Under Contract Date: 2023-10-10

Property Information

Number of Units: 22
Apx # Acres: 0.37
Recurring Fees: No
Year Built: 0

Remarks

COVID Showing Remarks: By appointment only on scheduled tour dates. Tour Dates: Sept 20, 2023 10AM - 12PM Sept 27, 2023 1-3PM
Hot Sheet Comment: new

Owner Info

Deposit: 200000

More Information

Unit 1

# Units: Yes
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 2400
Monthly Total: 2400
# Half Baths: 0

Unit 2

# Units: Yes
# Bedrooms: Yes
# Baths: Yes
Rent: 2300
Monthly Total: 2300

Unit 3

# Units: 20
# Baths: Yes
Rent: 2100
Monthly Total: 4200
# Bedrooms: 0

Meters

Sep Meter Elec: N
Sep Meter Gas: No

Neighborhood/Schools

Elementary School: Other
Junior High School: Other
High School: Other

Condition

Fair: Yes

Foundation

Slab: Yes

Proximity

Near Hospital: Yes

Laundry

Laundry Room: Yes

Zoning

R-4: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Parking Info

Outside: Yes

Property Features

Condition: Fair Foundation: Slab Parking Info: Outside Proximity: Near Hospital Laundry: Laundry Room Zoning: R-4 Terms: Cash; Conventional Listing Type: ER

Listing Office: Battaglia Commercial Real Esta

Last Updated: September - 15 - 2024

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