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614 W Pedregosa Street, SANTA BARBARA, CA 93101

$4,100,000
Property Type: Res Inc Lot Size (sq. ft.): 16,117 Status: Closed
Current Price: $4,100,000 List Date: 3/17/2021 Last Modified: 8/17/2021

Description

This well maintained 10-unit property is located on Santa Barbara's Westside. The property includes 2 buildings with 9 apartments and a stand-alone house. The apartments include (1) 3BD+1BA, (4) 2BD+1BA, and (4) 1BD+1BA. The house is a 3BD+1BA. The property also boasts ample off street parking including 8 garages and 3 additional spaces. Nestled on a residential block with only light traffic, the two buildings are sited on a deep lot with lush landscaping providing a quiet, oasis-like feel despite being just blocks from the Mission St. and 101 Freeway interchange. The units are located near Harding School & La Cumbre Junior High, with downtown Santa Barbara in easy bicycle distance.

Supplements: This property has not been available for sale in decades and is competitively priced at $437,000/unit with a proforma cap rate of 4.2%. Access to the building subject to accepted offer. Please contact listing agent for available inspections. Please do not disturb the occupants.

More Information MLS# 21-977

Location Info

District: 20 - SB/WEST OF STATE Street #: 614 Dir: W Street Name: Pedregosa Street Suffix: Street State/Province: CA Postal Code: 93101 Compass Map: Santa Barbara Map Grid: N12 County: Santa Barbara Parcel Number: 043-131-024 Cross Street: San Andres Street

Contract Info

Current Price: $4,100,000 Price: 4375000 Buyers Agent $/%: 2 Begin Date: 2021-03-17 Status: Closed

Status Information

Sold Date: 2021-08-17 Sold Price: $4,100,000 Under Contract Date: 2021-04-14

Property Information

Number of Units: 10 Apx # Acres: 0.37 Recurring Fees: No

Neighborhood/Schools

Elementary School: Adams Junior High School: LaCumbre High School: San Marcos

Remarks

COVID Showing Remarks: Prior to entering the property, ALL VISITORS are required to receive CAR form BPPP AND CAR form PRE (attached). Please call Listing Agent for more details. Hot Sheet Comment: new

Owner Info

Deposit: 3

Miscellaneous

Parking Spaces: 11

Unit 1

# Units: 10 # Bedrooms: 19 # Baths: 10 Furnished: N Monthly Total: 22190

Income/Expenses

Annual Income: 266280 Capitalization Rate: 3.7 Vac Factor: 2

Parking Info

Total # Garage Spaces: 8 Total # Unconvered Spaces: 3

Property Features

Condition: Excellent Foundation: Slab Parking Info: Garages; Mixed Laundry: Bldg Zoning: Other Terms: Cash; Ctnl Listing Type: ER
Listing Office: Radius Group Commercial R.E.
Last Updated: August - 17 - 2021
614 W Pedregosa Street, SANTA BARBARA, CA 93101- MLS# 21-977
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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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