NOT LISTED FOR SALE

Estimated Value: $3,530,702

6 Beds
4 Baths
-- Sq Ft
3,049 Sq Ft Lot

Last Sold May 18, 2018

Last sale price $2,200,000

Est. 60% increase in value since last sale

Current estimated payment $20,585/month

91 Days on Market

Highlights

  • Property is near an ocean
  • Property is near park, public transit, shops, and bus stop
  • Tile Flooring
  • Washington Elementary School Rated A
  • Home Security System
  • 2-minute walk to Plaza Vera Cruz

About This Home

As of May 2018

Fully occupied, Mixed Use Investment Property at 5.23% cap rate!!! This downtown Santa Barbara property at the signalized intersection of Anacapa and Haley features 4 fully furnished 1 bedroom, 1 bath residential units located above 2 highly versatile commercial spaces consisting of approximately 1,100 SF each. The commercial units are occupied by solid tenants; Pedego Electric Bikes and Santa Barbara Shoe Repair, both with a good track record of success, and they have significant lease term remaining on their leases.
The building has recently been painted & each residential unit is beautifully updated to include noise reducing dual pane windows, refinished oak hardwood floors, and much more. These fully furnished apartments include kitchen appliances, flat screen televisions, & Apple TV® This property is located in the rapidly gentrifying East Haley Street area with 152 apartment units and 14,600 SF of commercial space under construction or approved within 1/2-mile radius. Ideally situated, 1 block to State Street and the up and coming craft beer trail, close to the beach, Stearn's Warf, Funk Zone and the new La Entrada, 5-star Hotel Californian.

Last Agent to Sell the Property

SiBelle Israel

Berkshire Hathaway HomeServices California Properties Listed on: 01/09/2018

Co-Listed By

Mitch Stark

Berkshire Hathaway HomeServices California Properties License #01196532

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 3,049 Sq Ft Lot
  • Property is in excellent condition

Parking

  • On-Street Parking

Flooring

  • Carpet
  • Tile

Home Security

  • Home Security System
  • Fire and Smoke Detector

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Individual Gas Meter

Additional Features

  • 2-Story Property
  • Property is near an ocean
  • Property is near park, public transit, shops, and bus stop

Listing and Financial Details

  • Assessor Parcel Number 031-271-001

Community Details

Overview

  • 6 Units
  • 15 Or 20 Downtown Subdivision

Building Details

  • New Taxes Expense $24,196
  • Operating Expense $49,321
  • Gross Income $169,358
  • Net Operating Income $120,037

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1948
  • Income Expenses Annual Income: 169358.0
  • Capitalization Rate: 5.23%
  • Annual Expenses: 49321.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Building Stories: 2
  • ResoLaundryFeatures: None
  • ResoLotFeatures: Near Public Transit
  • ResoSecurityFeatures: Security System, Smoke Detector(s)
  • Co List Office Mls Id: pruc1
  • Co List Office Phone: 805-969-5026
  • Subdivision Name: 15 or 20 - Downtown
  • Reso Flooring: Carpet, Other, Tile
  • New Construction: No
  • Reso Property Condition: Excellent, Good
  • Property Information Year Built2: 1948
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • HeatingCooling Wall3: Yes
  • Condition Excellent: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Security Security System: Yes
  • Security Smoke Detector(s)2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 3049.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • General Property Information Stories2: 2.0
  • IncomeExpenses Taxes6: 24196.0
  • IncomeExpenses NOI2: 120,037
  • Parking Info Street: Yes
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.07

Garage/Parking

  • Parking Features: Street

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Parcel #: 031-271-001
  • Zoning: C-M
  • Lot Size Sq Ft: 3049.0

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 169358.0
  • Annual Operating Expense: 49321.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 26, 2020
Sold by
Haleblian Vicken and Haleblian Susan J
Bought by
Flying Tuppence Llc
Current Estimated Value
$3,530,702

Purchase Details

Listed on
Jan 9, 2018
Closed on
May 15, 2018
Sold by
100 Haley Street Llc
Bought by
Haleblian Vicken M and Haleblian Susie J
Seller's Agent
SiBelle Israel
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Non Member Agent
Non Member Office
List Price
$2,295,000
Sold Price
$2,200,000
Premium/Discount to List
-$95,000
-4.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.36%
Original Mortgage
$1,320,000
Interest Rate
4.4%
Mortgage Type
Construction

Purchase Details

Closed on
Dec 27, 2007
Sold by
Bryne Thomas W and Bryne Trust
Bought by
100 Haley Street Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$830,000
Interest Rate
6.15%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 2, 2002
Sold by
Byrne Thomas
Bought by
Byrne Thomas W and Byrne Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Flying Tuppence Llc -- None Available
Haleblian Vicken -- None Available
Haleblian Vicken M $2,200,000 Chicago Title Co
100 Haley Street Llc -- Ticor Title Company Of Ca
Byrne Thomas W -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Haleblian Vicken M $1,320,000
Previous Owner 100 Haley Street Llc $830,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/18/2018 05/18/18 Sold $2,200,000 -4.1% --
04/09/2018 04/09/18 Pending -- -- --
01/08/2018 01/08/18 For Sale $2,295,000 -- --
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $27,663 $2,503,220 $625,804 $1,877,416
2023 $27,663 $2,406,018 $601,504 $1,804,514
2022 $25,096 $2,358,842 $589,710 $1,769,132
2021 $24,520 $2,312,592 $578,148 $1,734,444
2020 $24,267 $2,288,880 $572,220 $1,716,660
2019 $23,845 $2,244,000 $561,000 $1,683,000
2018 $6,091 $564,891 $137,775 $427,116
2017 $5,890 $553,816 $135,074 $418,742
2016 $5,810 $542,958 $132,426 $410,532
2014 $5,654 $524,328 $127,882 $396,446
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 18-70

Santa Barbara Multiple Listing Service

APN: 031-271-001