487 Whitman Street, A, B, C And D, GOLETA, CA 93117
$2,100,000
Property Type:
Res Inc
Lot Size (sq. ft.):
8,276
Status:
Closed
Current Price:
$2,100,000
List Date:
11/02/2022
Last Modified:
11/30/2022
Description
VALUE-ADD POTENTIAL! Discover this incredible 4-unit apartment building in a prime Goleta location offering three 2-bedroom units, & one 1-bedroom unit, each with covered parking. Existing long term tenants offer strong, stable income and a high demand for rentals in the area makes for attractive rental upside. There is also a recorded condo map, offering the potential to finalize the condo conversion & later sell individual units at a profit. The units are light and bright with multiple units offering laminate wood flooring, wood-beam ceilings, & private patios/yards. With an ideal location just minutes away from UCSB, Girsh park, hiking trails, the shopping, dining & entertainment at the Camino Marketplace, and the beach, don't miss this investment opportunity!
More Information MLS# 22-3612
Location Info
District: 30 - SB/GOL SOUTH
Street #: 487
Street Name: Whitman
Street Suffix: Street
Unit/Space #: A, B, C And D
State/Province: CA
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: E12
County: Santa Barbara
Parcel Number: 073-200-028
Cross Street: Phelps Rd
Contract Info
Current Price: $2,100,000
Price: 1995000
Buyers Agent $/%: 2.5
Begin Date: 2022-11-02
Status: Closed
Status Information
Sold Date: 2022-11-30
Sold Price: $2,100,000
Under Contract Date: 2022-11-10
Property Information
Number of Units: 4
Year Built: 1968
Apx # Acres: 0.19
Recurring Fees: No
Neighborhood/Schools
Neighborhood: Other
Elementary School: Isla Vista
Junior High School: Gol Valley
High School: Dos Pueblos
Remarks
COVID Showing Remarks: Please adhere to Covid protocols at all times while at property.
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 4
# Refrigerators: 3
# Stoves: 4
Unit 1
# Units: 1
# Bedrooms: 2
# Baths: 1
Furnished: N
Rent: 2600
Monthly Total: 2600
Unit 2
# Units: 1
# Bedrooms: 1
# Baths: 1
Rent: 1825
Monthly Total: 1825
Unit 3
# Units: 1
# Bedrooms: 2
# Baths: 1
Rent: 2825
Monthly Total: 2825
Unit 4
# Units: 1
# Bedrooms: 2
# Baths: 1
Rent: 2000
Monthly Total: 2000
Income/Expenses
Total Monthly Income: 9250
Annual Income: 111000
Gross Rent Multiplr: 18
Capitalization Rate: 3.5%
NOI: $69,220
Parking Info
Total # Carport Spaces: 4
Property Features
Unit 1: M/M
Unit 2: M/M
Unit 3: M/M
Unit 4: M/M
Condition: Excellent; Good
Foundation: Slab
Parking Info: Carport; Cpt #4; Attached
Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping
Laundry: Laundry Room; Bldg
Amenities: Fncd Back
Flr/Wdw Coverings: Carpet; Wood/Laminate; Tile
Security: Smoke Detector(s)
Pets: Yes
Owner Provides: Water; Trash
Zoning: Other
Reports Available: TDS; Prelim; CCR'S Inc; NHD
Terms: Cash; Ctnl
Listing Type: ER
Documents
Features and Upgrades ›Listing Office: eXp Realty of California, Inc.
Last Updated: November - 30 - 2022
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