614 W Pedregosa Street, SANTA BARBARA, CA 93101 (MLS# 21-977)

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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: 9/15/2024

Overview

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.

Listing Details MLS# 21-977

Location Info

District: 20 - SB/WEST OF STATE
Street #: 614
Dir: W
Street Name: Pedregosa
Street Suffix: Street
State: CA
Country: US
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

Price: 4375000
Buyers Agent $/%: 2
Begin Date: 2021-03-17

Status Information

Sold Date: 2021-08-17
Under Contract Date: 2021-04-14

Property Information

Number of Units: 10
Apx # Acres: 0.37
Recurring Fees: No
Year Built: 0

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

More Information

Miscellaneous

Parking Spaces: 11

Unit 1

# Units: 10
# Bedrooms: 19
# Baths: 10
Furnished: N
Monthly Total: 22190
# Half Baths: 0
Rent: 0

Parking Info

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

Neighborhood/Schools

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

Condition

Excellent: Yes

Foundation

Slab: Yes

Laundry

Bldg: Yes

Income/Expenses

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

Zoning

Other: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Property Features

Condition: Excellent Foundation: Slab Parking Info: Mixed; Garage Laundry: Bldg Zoning: Other Terms: Cash; Conventional Listing Type: ER

Listing Office: Radius Group Commercial R.E.

Last Updated: September - 15 - 2024

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