528 W Los Olivos Street, SANTA BARBARA, CA 93105 (MLS# 19-1807)

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528 W Los Olivos Street, SANTA BARBARA, CA 93105

$7,800,000

Property Type: Res Inc Status: Closed

Current Price: $7,800,000 List Date: 5/22/2019 Last Modified: 9/15/2024

Overview

Description

Excellent investment opportunity to acquire a well located mid size Santa Barbara apartment complex with major rental upside potential. 528 West Los Olivos Street consists of (28) 1 bed/1 bath units located within blocks of Cottage Hospital and Oak Park. This property has been in the same family for more than 35 years and currently generates $40,862 in monthly income. The units are approximately 520 SF and are spread out over 4 buildings with each unit having one off-street parking space. There are an additional 10 off-street parking spaces along with a laundry room on the 37,683 SF lot. Upstairs units have vaulted ceilings and many of the downstairs units have enclosed patios.Offers are due May 31. Property tour May 29th from 11AM -1PM.

Listing Details MLS# 19-1807

Location Info

District: 20 - SB/WEST OF STATE
Street #: 528
Dir: W
Street Name: Los Olivos
Street Suffix: Street
State: CA
Country: US
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 025-160-017
Cross Street: Pueblo

Contract Info

Price: 7995000
Financing: CTEL
Buyers Agent $/%: 2
Begin Date: 2019-05-22

Status Information

Sold Date: 2019-08-01
Under Contract Date: 2019-06-05

Property Information

Number of Units: 28
Year Built: 1972
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 2

More Information

Unit 1

# Units: 28
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 1445
Monthly Total: 40450
# Half Baths: 0

Neighborhood/Schools

Elementary School: Other
Junior High School: Other
High School: Other

Zoning

Other: Yes

Terms

Conventional: Yes

Listing Type

ER: Yes

Property Features

Zoning: Other Terms: Conventional Listing Type: ER

Listing Office: Beachside Partners

Last Updated: September - 15 - 2024

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