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4320 Modoc Road H, SANTA BARBARA, CA 93110

$5,200,000
Property Type: Res Inc Lot Size (sq. ft.): 70,785 Status: Closed
Current Price: $5,200,000 List Date: 5/12/2015 Last Modified: 9/15/2024

Description

Fantastic income property in Hope Ranch Annex area. First time on the market since constructed! Must-see property! 13 townhouses, all 2 story, 2Bed/1.5Bath, nearly 1,100 SF each. Private patios, newer kitchen appliances. 9 units have fireplaces. New roofs, front doors, & exterior lighting. Driveway resurfaced. Each unit has detached garage/carport w/ storage. Large 1.625 acre lot w/ excess land.

Supplements: All feature private patios with new vinyl fencing & newer kitchen appliances including dishwashers. Attractive floorplans; 9 have fireplaces. New roofs, all new front doors, new exterior lighting. Driveway recently resurfaced. Each unit has detached garage with storage. 17 off-street parking spaces. 8 units built in 1991; 5 units built in 1975. 4 units recently upgraded & getting over $2100/mo in rent. Separately metered for water, electric, & gas1. Large 1.625 acre lot which includes approx 1/3 acre of excess land. Current zoning is DR-8, but underlying comprehensive zoning is DR-12.3, which allows for 12.3 units per acre. Owner is working with County to upzone the parcel to DR-12.3. Lots of potential with this property. Check w/ your land use professional about the possibility of adding additional units, community room & facilities, or converting to condos. 1Units built in 1991 have gas. Units built in 1975 are all electric.

More Information MLS# 15-1556

Location Info

Unit/Space #: H Country: US Compass Map: Santa Barbara Map Grid: K11 Cross Street: Hollister Ave District: 30 - SB/GOL SOUTH Street #: 4320 Street Name: Modoc Street Suffix: Road State: CA Postal Code: 93110 County: Santa Barbara Parcel Number: 061-092-017

Contract Info

Buyers Agent $/%: 2 Current Price: $5,200,000 Price: 5499000 Begin Date: 2015-05-11 Status: Closed

Property Information

Year Built: 1991 Stories: 2 Apx Lot SqFt: 70785 Apx # Acres: 1.62 Recurring Fees: No Number of Units: 13

Neighborhood/Schools

Elementary School: Vieja Valley Junior High School: Other High School: San Marcos

Owner Info

Deposit: 100000

Remarks

Hot Sheet Comment: new

Condition

Excellent: 1

Foundation

Slab: 1

Miscellaneous

Parking Spaces: 30

Laundry

Laundry Room: 1

Amenities

Patio: 1 Fireplace: 1 Dishwasher: 1 Microwave: 1 Refrigerator: 1

Unit 1

# Units: 13 # Bedrooms: 2 # Baths: 1 # Half Baths: 1 Furnished: N Rent: 2000 Monthly Total: 23792

Income/Expenses

Total Monthly Income: 23792 Annual Income: 309300 Gross Rent Multiplr: 17.8 Capitalization Rate: 3.53

Heating

Wall: 1 GFA: 1

Zoning

Other: 1

Reports Available

Other: 1

Terms

Cash: 1 Conventional: 1

Listing Type

ER: 1

Meters

Sep Meter Wtr: Y Sep Meter Elec: Y Sep Meter Gas: Yes

Parking Info

Garage: 1 Outside: 1

Flr/Wdw Coverings

Carpet: 1 Tile: 1

Pub Listing Details

None: 1

Owner Provides

Trash: 1 Other: 1

Exchange

No: 1

Status Information

Sold Date: 2015-08-26 Sold Price: $5,200,000 Under Contract Date: 2015-06-26

NeighborhoodSchools

Neighborhood: 25 - Hope Ranch

Property Features

Condition: Excellent Foundation: Slab Parking Info: Garage; Outside Laundry: Laundry Room Amenities: Patio; Fireplace; Dishwasher; Microwave; Refrigerator Heating: GFA; Wall Owner Provides: Trash; Other Zoning: Other Reports Available: Other Exchange: No Terms: Cash; Conventional Listing Type: ER Pub Listing Details: None
Listing Office: Battaglia Commercial Real Esta
IDX
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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