524 E Arrellaga Street, SANTA BARBARA, CA 93103 (MLS# 20-4501)

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524 E Arrellaga Street, SANTA BARBARA, CA 93103

$3,400,000

Property Type: Res Inc Lot Size (sq. ft.): 10,454 Status: Closed

Current Price: $3,400,000 List Date: 11/18/2020 Last Modified: 9/15/2024

Overview

Description

This 6-unit apartment complex is Ideally located in the beautiful upper-east side of Santa Barbara. Unit mix features (3) 2BD/1BA, (2) 1BD/1BA, and (1) 1BD/1BA + Den. The units are spread out over three buildings with a large Victorian style apartment building and two stand alone cottages with multiple units offering fantastic ocean views. There are also six garage spaces and outdoor patios/decks. Beginning in 2017, the property underwent extensive renovations, including a new foundation, new roof, full exterior paint, and a major remodel to five of the six units. As a result, annual maintenance costs are extremely low and the majority of rents are very close to market.

Listing Details MLS# 20-4501

Location Info

District: 15 - SB/EAST OF STATE
Street #: 524
Dir: E
Street Name: Arrellaga
Street Suffix: Street
State: CA
Country: US
Postal Code: 93103
Compass Map: Santa Barbara
Map Grid: O11
County: Santa Barbara
Parcel Number: 027-260-030
Cross Street: Olive

Contract Info

Price: 3850000
Financing: Exchange
Buyers Agent $/%: 2.5
Begin Date: 2020-11-18

Status Information

Sold Date: 2021-02-26
Under Contract Date: 2020-12-16

Property Information

Number of Units: 6
Year Built: 1935
Apx # Acres: 0.24
Apx Lot SqFt: 10454
Recurring Fees: No

Remarks

COVID Showing Remarks: All visitors required to receive CAR form BPPP & C.A.R form PRE. Please email signed PEAD-V(s) to listing agents prior to arriving at the property. Masks are Required!
Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Miscellaneous

Parking Spaces: 6
# Refrigerators: 6
# Stoves: 6

Unit 1

# Units: Yes
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 2895
Monthly Total: 2895
# Half Baths: 0

Meters

Sep Meter Elec: Y
Sep Meter Gas: Yes

Neighborhood/Schools

Elementary School: Roosevelt
Junior High School: S.B. Jr.
High School: S.B. Sr.

Condition

Excellent: Yes
Good: Yes

Foundation

Mixed: Yes

Proximity

Near Bus: Yes
Near Hospital: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Laundry

In Unit: Yes

Amenities

Deck: Yes
Patio: Yes
Dishwasher: Yes
Fncd All: Yes

Income/Expenses

Total Monthly Income: 17066

Heating

Wall: Yes

Zoning

R-3: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Parking Info

Garage: Yes

Flr/Wdw Coverings

Hardwood: Yes
Wood/Laminate: Yes
Tile: Yes

Owner Provides

Water: Yes
Trash: Yes

Property Features

Condition: Excellent; Good Foundation: Mixed Parking Info: Garage Proximity: Near Bus; Near Hospital; Near Park(s); Near School(s); Near Shopping Laundry: In Unit Amenities: Deck; Patio; Dishwasher; Fncd All Heating: Wall Owner Provides: Water; Trash Zoning: R-3 Terms: Cash; Conventional Listing Type: ER

Listing Office: Beachside Partners

Last Updated: September - 15 - 2024

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