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618 W Mission Street, SANTA BARBARA, CA 93101

$768,000
Property Type: Res Inc Square Footage: 704 Lot Size (sq. ft.): 3,920 Status: Closed
Current Price: $768,000 List Date: 4/15/2020 Last Modified: 5/29/2021

Description

Desirable California cottage plus guest house at a prime downtown location. Both cottages are thoroughly and tastefully remodeled with new kitchens, bathrooms, appliances and more. This is a wonderful rental investment opportunity, or if you prefer, a move-in ready home with a multipurpose living space that can be used for additional income to offset the mortgage. The main two-bed, one-bath home showcases refurbished original hardwood floors, a bright and open floor plan encompassing the kitchen, dining and living areas, with updated lighting and electrical. The one bedroom one bath guest cottage is a detached private space, superbly finished with vaulted ceilings. The main home has a projected income of $2800/mo while the guest cottage is $2000/mo with a 5.37% cap rate.

More Information MLS# 20-1343

Location Info

District: 20 - SB/WEST OF STATE Street #: 618 Dir: W Street Name: Mission Street Suffix: Street State/Province: CA Postal Code: 93101 Compass Map: Santa Barbara Map Grid: N12 County: Santa Barbara Parcel Number: 043-092-008 Cross Street: Modoc

Contract Info

Current Price: $768,000 Price: 779000 Buyers Agent $/%: 2.5 Begin Date: 2020-04-15 Status: Closed

Status Information

Sold Date: 2020-09-25 Sold Price: $768,000 Under Contract Date: 2020-06-14

Property Information

Number of Units: 2 Stories: 1 Year Built: 1910 Main House SqFt: 704 Other Structures SqFt: 411 Apx # Acres: 0.09 Apx Lot SqFt: 3920 Recurring Fees: No

Neighborhood/Schools

Neighborhood: 20 - Westside Elementary School: Harding Junior High School: LaCumbre High School: S.B. Sr.

Remarks

Hot Sheet Comment: price

Owner Info

Deposit: 3

Unit 1

# Units: 1 # Bedrooms: 2 # Baths: 1 Furnished: N Rent: 58800 Monthly Total: 2700

Unit 2

# Units: 1 # Bedrooms: 1 # Baths: 1 Monthly Total: 2200

Income/Expenses

Total Monthly Income: 4900 Annual Income: 58800 Gross Rent Multiplr: 14.03 Capitalization Rate: 5.31 Total Monthly Exp: 1251.25 NOI: 43785

Parking Info

Total # Unconvered Spaces: 2

Property Features

Condition: Excellent Parking Info: Unc #2 Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: In Unit Flr/Wdw Coverings: Wood/Laminate; Tile Heating/Cooling: Wall Pets: Yes Zoning: R-3 Terms: Cash Listing Type: ER Contingent Remarks: SUBJ 2 INSPECT
Listing Office: Keller Williams Realty Santa Barbara
Last Updated: May - 29 - 2021
618 W Mission Street, SANTA BARBARA, CA 93101- MLS# 20-1343
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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