948 Camino Del Sur, GOLETA, CA 93117
$3,200,000
Property Type:
Res Inc
Square Footage:
2,906
Lot Size (sq. ft.):
10,018
Status:
Active
Current Price:
$3,200,000
List Date:
4/15/2024
Last Modified:
4/15/2024
Description
6% Cap Rate on current rents with 30% expenses and accounting for a 7% management fee. Centrally located between the University of Santa Barbara and the popular Sands Beach. The houses feature ten (10) bedrooms and six (6) full bathrooms total, a large front yard, and ample parking. All three houses have new roofs and windows throughout. The original structure consists of the two houses sitting in the back of the lot while the new house in the front was added as an ADU in September 2023. Current rent income totals $22,920/month and the property is completely pre-lease for the 24- 25 school year.
More Information MLS# 24-1155
Location Info
District: 30 - SB/GOL SOUTH
Street #: 948
Street Name: Camino Del Sur
State/Province: CA
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: E13
County: Santa Barbara
Parcel Number: 075-102-024
Cross Street: Pasado Road
Contract Info
Current Price: $3,200,000
Price: 3200000
Buyers Agent $/%: 2.5
Begin Date: 2024-04-15
Status: Active
Property Information
Number of Units: 3
Year Built: 1960
Main House SqFt: 2906
Apx Lot SqFt: 10018
Recurring Fees: No
Neighborhood/Schools
Neighborhood: Other
Elementary School: Isla Vista
Junior High School: Gol Valley
High School: Dos Pueblos
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 3
Unit 1
# Units: 1
# Bedrooms: 4
# Baths: 3
Furnished: N
Rent: 9650
Monthly Total: 9650
Unit 2
# Units: 1
# Baths: 2
Monthly Total: 7920
Unit 3
# Units: 1
# Bedrooms: 3
# Baths: 1
Monthly Total: 5350
Income/Expenses
Total Monthly Income: 22920
Annual Income: 275040
Gross Rent Multiplr: 11.63
Capitalization Rate: 6
Taxes: 32000
Insurance: 3840
Maintenance Expense: 5600
NOI: 193522
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes
Property Features
Condition: Excellent
Foundation: Slab
Parking Info: Uncovered
Proximity: Near School(s)
Laundry: Other
Amenities: Fncd All
Flr/Wdw Coverings: Carpet; Wood/Laminate
Security: Fire Alarm; Smoke Detector(s)
Heating/Cooling: Heat Other
Zoning: SR
Terms: Cash; Ctnl
Listing Type: ER
Pub Listing Details: None
Listing Office: Radius Group Commercial R.E.
Last Updated: April - 15 - 2024
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