47 Ocean View Avenue, SANTA BARBARA, CA 93103
$4,175,000
Property Type:
Res Inc
Lot Size (sq. ft.):
17,859
Status:
Closed
Current Price:
$4,175,000
List Date:
6/02/2017
Last Modified:
4/17/2019
Description
Great opportunity to acquire an asset of this size on the Lower Riviera.
Located next to the Montecito Country Club, 47 Ocean View Ave. has a unit mix of (6) studios, (8) 1 bd/1ba and (1) 2 bd/1ba units. Some have been upgraded with laminate flooring, granite counters, fixtures, appliances
and paint. Lower units feature private outdoor space. A common laundry room and off-street parking are also available for tenants. The building’s exterior has undergone extensive woodwork, including fascia replacement, new modern energy-efficient LED exterior lighting, new
paint and new, drought-tolerant landscaping. Buyer to assume existing loan or pay prepay with the unique potential for additional funds upon meeting certain lender conditions. 55 Ocean View also available 11 units w/ 9 townhouse uni
More Information MLS# 17-1510
Location Info
District: 15 - SB/EAST OF STATE
Street #: 47
Street Name: Ocean View
Street Suffix: Avenue
State/Province: CA
Postal Code: 93103
Compass Map: Santa Barbara
Map Grid: Q12
County: Santa Barbara
Parcel Number: 015-271-024
Cross Street: Old Coast Highway
Contract Info
Current Price: $4,175,000
Price: 4225000
Buyers Agent $/%: 2
Begin Date: 2017-05-08
Status: Closed
Status Information
Sold Date: 2017-08-18
Sold Price: $4,175,000
Under Contract Date: 2017-07-26
Property Information
Number of Units: 15
Stories: 2
Year Built: 1964
Apx Lot SqFt: 17859
Recurring Fees: No
Neighborhood/Schools
Elementary School: Other
Junior High School: Other
High School: Other
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 15
Unit 1
# Units: 6
# Baths: 1
Furnished: N
Monthly Total: 23920
Unit 2
# Units: 8
# Bedrooms: 1
# Baths: 1
Unit 3
# Units: 1
# Bedrooms: 2
# Baths: 1
Income/Expenses
Gross Rent Multiplr: 14.96
Capitalization Rate: 4.22
NOI: 178315
Meters
Sep Meter Elec: Y
Sep Meter Gas: Yes
Property Features
Parking Info: Uncovered
Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping
Laundry: Laundry Room
Amenities: Patio
Zoning: R-2
Terms: Cash; OTHER/CLA
Listing Type: ER
Listing Office: Radius Group Commercial R.E.
Last Updated: April - 17 - 2019
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