717 Cook Avenue, SANTA BARBARA, CA 93101
$1,235,000
Property Type:
Res Inc
Status:
Closed
Current Price:
$1,235,000
List Date:
1/19/2021
Last Modified:
4/06/2021
Description
This four-plex is a desirable bread & butter investment property. Cook Ave. is a one block long street on the Westside of Santa Barbara between Chino & San Andres Street. There are two units downstairs, & two units upstairs. Each level has a 2 bedroom, 1 bath apartment & a 1 bedroom, 1 bath apartment. There are four uncovered parking spaces behind the building. The driveway & parking were resurfaced with new asphalt in 2019. A laundromat is at the neighboring commercial plaza along with Foodland Grocery & other retail stores. Storage space below the stairs might be a space to improve if on-site laundry is desired. Stable tenants have resided here long term. Rents are currently low with little turnover or vacancy. Some units have been updated when repairs have been made.
Supplements: The location has convenient access to downtown Santa Barbara, schools, nearby shopping, restaurants, Cottage Hospital, and the freeway.
More Information MLS# 21-193
Location Info
District: 20 - SB/WEST OF STATE
Street #: 717
Street Name: Cook
Street Suffix: Avenue
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 043-244-004
Cross Street: Chino
Contract Info
Current Price: $1,235,000
Price: 1375000
Buyers Agent $/%: 2.5
Begin Date: 2021-01-19
Status: Closed
Status Information
Sold Date: 2021-03-31
Sold Price: $1,235,000
Under Contract Date: 2021-01-27
Property Information
Number of Units: 4
Stories: 2
Year Built: 1970
Recurring Fees: No
Neighborhood/Schools
Neighborhood: 20 - Westside
Elementary School: Harding
Junior High School: LaCumbre
High School: S.B. Sr.
Remarks
COVID Showing Remarks: After acceptance of an offer all showings will be by appointment with listing agent. CAR Mandatory Gov't Showing Requirements and Best Practices (BPPP). Prior to showing, send electronically to the listing agent the CAR PEAD-V form signed by all visitors. Persons visiting the property must agree to the Posted Rules for Entry (PRE) which is included in the MLS supplement section. Masks required.
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 4
# Refrigerators: 4
# Stoves: 4
Unit 1
# Units: 1
# Bedrooms: 1
# Baths: 1
Furnished: N
Rent: 1600
Monthly Total: 1600
Unit 2
# Units: 1
# Bedrooms: 2
# Baths: 1
Furnished: N
Rent: 1845
Monthly Total: 1845
Unit 3
# Units: 1
# Bedrooms: 1
# Baths: 1
Furnished: N
Rent: 1525
Monthly Total: 1525
Unit 4
# Units: 1
# Bedrooms: 2
# Baths: 1
Furnished: N
Rent: 1845
Monthly Total: 1845
Income/Expenses
Total Monthly Income: 6815
Annual Income: 81780
Gross Rent Multiplr: 16.8
Capitalization Rate: 4.7
Taxes: 5546
Insurance: 2601
Water Expense: 5450
Trash Expense: 1375
Maintenance Expense: 2100
Total Monthly Exp: 1423
Total Annual Exp: 17072
Meters
Sep Meter Elec: Y
Sep Meter Gas: Yes
Parking Info
Total # Unconvered Spaces: 4
Property Features
Unit 1: M/M
Unit 2: M/M
Unit 3: M/M
Unit 4: M/M
Income/Expenses: Actual
Condition: Average
Foundation: Slab
Parking Info: Uncovered; Unc #4
Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping
Laundry: None
Flr/Wdw Coverings: Carpet; Tile; Vinyl; Wnd/Cv Prt
Security: Smoke Detector(s)
Heating/Cooling: Wall
Owner Provides: Water; Trash
Zoning: R-2
Terms: Cash; Ctnl
Listing Type: ER
Contingent Remarks: HOME INSPECTN; REPORTS; SUBJ 2 INSPECT
Documents
Listing Office: Village Properties - 1
Last Updated: April - 06 - 2021
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