SANTA BARBARA, CA 93101
$8,835,000
Property Type:
Res Inc
Square Footage:
4,771
Status:
Closed
Current Price:
$8,835,000
List Date:
10/11/2021
Last Modified:
9/15/2024
Description
The crown jewel of Santa Barbara's waterfront, ''El Palacio De La Reina'' is in the very best of locations - 1 block to the beach and 1 block to State St. Its recent renovation is a passion project masterpiece of authentic architectural restoration and gorgeous modern interiors, at a cost of ~$5.5M. The exquisite Spanish Colonial building is capped by a unique and luxurious owner's residence of nearly 2000 square feet. Each residence has its own exterior entrance, and the 3 smaller apartments are finished with the same high-quality designer touches as the owner's home. Works as income generation for long-term or short-term (currently allowed) beach area rentals, or for guests on-and-off, there are many options for use or investment. Offering Memorandum in Documents, do not disturb tenants
More Information MLS# 21-3772
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: P13
Cross Street: Mason
District: 20 - SB/WEST OF STATE
State: CA
Postal Code: 93101
County: Santa Barbara
Contract Info
Financing: Cash
Buyers Agent $/%: 2.5
Current Price: $8,835,000
Price: 8800000
Begin Date: 2021-10-11
Status: Closed
Property Information
Year Built: 1937
Main House SqFt: 4771
Recurring Fees: No
Number of Units: 4
Neighborhood/Schools
Elementary School: McKinley
Junior High School: S.B. Jr.
High School: S.B. Sr.
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Condition
Excellent: 1
Foundation
Raised: 1
Miscellaneous
Parking Spaces: 4
Proximity
Near Bus: 1
Near Ocean: 1
Near Park(s): 1
Near Shopping: 1
Amenities
Fireplace: 1
Unit 1
# Units: 1
# Bedrooms: 2
# Baths: 2
# Half Baths: 0
Furnished: Y
Rent: 15000
Monthly Total: 15000
Income/Expenses
Total Monthly Income: 31400
Annual Income: 376800
Gross Rent Multiplr: 23.4
Capitalization Rate: 2.32
Estimated: 1
NOI: 204000
Heating
GFA: 1
Cooling
A/C Other: 1
Unit 2
# Units: 1
# Bedrooms: 2
# Baths: 2
# Half Baths: 0
Furnished: Y
Rent: 6800
Monthly Total: 6800
Zoning
R-4: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Unit 3
# Units: 1
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Furnished: Y
Rent: 4800
Monthly Total: 4800
Unit 4
# Units: 1
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Furnished: Y
Rent: 4800
Monthly Total: 4800
Meters
Sep Meter Wtr: N
Sep Meter Elec: N
Sep Meter Gas: No
Parking Info
Unc #4: 1
Flr/Wdw Coverings
Hardwood: 1
Tile: 1
Marble: 1
Contingent Remarks
HOME INSPECTN: 1
Owner Provides
Heat: 1
Elec: 1
Gas: 1
Water: 1
Trash: 1
Status Information
Sold Date: 2022-03-15
Sold Price: $8,835,000
Under Contract Date: 2022-03-03
NeighborhoodSchools
Neighborhood: 20 - West Beach
Property Features
Condition: Excellent
Foundation: Raised
Parking Info: Unc #4
Proximity: Near Bus; Near Ocean; Near Park(s); Near Shopping
Amenities: Fireplace
Cooling: A/C Other
Heating: GFA
Owner Provides: Heat; Elec; Gas; Water; Trash
Zoning: R-4
Terms: Cash; Conventional
Listing Type: ER
Contingent Remarks: HOME INSPECTN
Offering Memorandum (unbranded) ›
Listing Office:
Berkshire Hathaway HomeServices California Properties
Last Updated: September - 15 - 2024
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