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
Documents
Listing Office: Keller Williams Realty Santa Barbara
Last Updated: May - 29 - 2021
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