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:
12/15/2023
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.
More Information MLS# 23-2714
Location Info
District: 20 - SB/WEST OF STATE
Street #: 427
Dir: W
Street Name: Islay
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 027-081-021
Cross Street: Castillo
Contract Info
Current Price: $4,360,000
Price: 6750000
Financing: CTNL
Buyers Agent $/%: 2
Begin Date: 2023-09-11
Status: Closed
Status Information
Sold Date: 2023-12-15
Sold Price: $4,360,000
Under Contract Date: 2023-10-10
Property Information
Number of Units: 22
Apx # Acres: 0.37
Recurring Fees: No
Neighborhood/Schools
Elementary School: Other
Junior High School: Other
High School: Other
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
Unit 1
# Units: 1
# Bedrooms: 1
# Baths: 1
Furnished: N
Rent: 2400
Monthly Total: 2400
Unit 2
# Units: 1
# Bedrooms: 1
# Baths: 1
Rent: 2300
Monthly Total: 2300
Unit 3
# Units: 20
# Baths: 1
Rent: 2100
Monthly Total: 4200
Meters
Sep Meter Elec: N
Sep Meter Gas: No
Property Features
Condition: Fair
Foundation: Slab
Parking Info: Uncovered
Proximity: Near Hospital
Laundry: Laundry Room
Zoning: R-4
Terms: Cash; Ctnl
Listing Type: ER
Listing Office: Battaglia Commercial Real Esta
Last Updated: December - 15 - 2023
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