NOT LISTED FOR SALE

Estimated Value: $2,067,000 - $3,726,956

Studio
-- Bath
-- Sq Ft
0.39 Acres Lot

Sale Details

Date Sold: March 22, 2021

Last sale price $2,486,000

Est. 13% increase in value since last sale

Current estimated payment $17,251 / mo

16 Days on Market

Highlights

  • Property is near an ocean
  • 0.39 Acre Lot
  • Laundry Room
  • Franklin Elementary School Rated A-
  • Property is near park, public transit, schools, shops, and bus stop
  • Tile Flooring

About This Home

As of March 2021

Literally one of the most solid investment properties one could own, this four-unit Lower Riviera property is constructed almost entirely out of reinforced concrete block. Never before on the market, these units were originally constructed by the current owner in the mid 1970's. Consisting of two large two unit buildings on a .39 acre ocean view parcel, this trophy property is the epitome of a mid-sized buy-and-hold opportunity here in Santa Barbara.
Building one contains two large (approx. 1600sqft) three bedroom, two- and one-half bath units, both of which feature high ceilings, private patio/yard space, and two fireplaces. Building two consists of two (approx. 900sqft) two-bedroom, one bath units, both of which have outstanding ocean views, over two three car carports. Kitchens and baths in all four units have undergone quality renovations within the last two years.
All units are separately metered for electricity and gas, with submeters for water. Additionally, there are two laundry rooms and several storage closets.
Current Accessory Dwelling Unit laws could allow construction of further units, or division of existing units into separate units. Don't miss this opportunity to be the next long-term owner of this legacy investment property.

Last Agent to Sell the Property

James Krautmann

Village Properties License #01468842 Listed on: 02/04/2021

Last Buyer's Agent

James Krautmann

Village Properties License #01468842 Listed on: 02/04/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1975

Lot Details

  • 16,988 Sq Ft Lot
  • Property is in excellent condition

Home Design

  • Slab Foundation

Kitchen

  • Stove
  • Dishwasher

Flooring

  • Carpet
  • Tile

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 7 Parking Spaces
  • 6 Carport Spaces
  • 1 Open Parking Space

Schools

  • Franklin Elementary School
  • S.B. Jr. Middle School
  • S.B. Sr. High School

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, schools, shops, and bus stop

Community Details

  • 4 Units
  • 15 Riviera/Lower Subdivision

Listing and Financial Details

  • Assessor Parcel Number 031-053-004

Property Details

Home Type

Multi-Family

Year Built

Built in 1975

Lot Details

0.39 Acres

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1975
  • Monthly Income: 10762.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: Y
  • Miscellaneous Parking Spaces: 7.0
  • Building Stories: 2
  • ResoLaundryFeatures: Laundry Room, In Unit
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 15 - Riviera/Lower
  • Carport Y N: Yes
  • Reso Flooring: Carpet, Tile
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 1975
  • Property Information Apx # Acres: 0.39
  • NeighborhoodSchools Elementary School: Franklin
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Condo:Laundry in Unit: Yes
  • HeatingCooling Wall3: Yes
  • Parking Info Total # Carport Spaces2: 6.0
  • Parking Info Total # Unconvered Spaces: 1.0
  • Condition Excellent: Yes
  • Foundation:Slab: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Laundry Laundry Room2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 16988.0
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • General Property Information Stories2: 2.0
  • Amenities Gas Stove2: Yes
  • Amenities Dishwasher2: Yes
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.39
  • Foundation Details: Slab

Garage/Parking

  • Open Parking Spaces: 1.0
  • Open Parking: Yes
  • Parking Features: Cpt #6, Unc #1
  • Total Parking Spaces: 7.0
  • Parking Info Cpt #63: Yes

Schools

  • Elementary School: Franklin
  • High School: S.B. Sr.
  • Middle Or Junior School: S.B. Jr.

Lot Info

  • Parcel #: 031-053-004
  • Zoning: R-2
  • Lot Size Sq Ft: 16988.0

Multi Family

  • Number Of Units Total: 4
  • Total Actual Rent: 10762.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 1, 2023
Current Estimated Value
$2,801,837

Purchase Details

Listed on
Feb 4, 2021
Closed on
Apr 1, 2021
Seller's Agent
James Krautmann
Village Properties
Buyer's Agent
James Krautmann
Village Properties
List Price
$2,495,000
Sold Price
$2,486,000
Premium/Discount to List
-$9,000
-0.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.04%

Purchase Details

Listed on
Feb 4, 2021
Closed on
Mar 16, 2021
Seller's Agent
James Krautmann
Village Properties
Buyer's Agent
James Krautmann
Village Properties
List Price
$2,495,000
Sold Price
$2,486,000
Premium/Discount to List
-$9,000
-0.36%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- -- None Listed On Document
-- -- None Listed On Document
-- -- None Listed On Document
-- -- None Listed On Document
-- -- --
-- $2,536,000 Fidelity National Title Co
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/22/2021 03/22/21 Sold $2,486,000 -0.4% --
02/20/2021 02/20/21 Pending -- -- --
02/04/2021 02/04/21 For Sale $2,495,000 -- --
Source: Santa Barbara Multiple Listing Service

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 $28,573 $2,753,052 $1,062,022 $1,691,030
2023 $28,573 $2,638,454 $962,370 $1,676,084
2022 $27,494 $2,586,720 $943,500 $1,643,220
2021 $4,347 $406,942 $60,422 $346,520
2020 $4,302 $402,770 $59,803 $342,967
2019 $4,227 $394,874 $58,631 $336,243
2018 $4,167 $387,132 $57,482 $329,650
2017 $4,029 $379,542 $56,355 $323,187
2016 $4,004 $372,100 $55,250 $316,850
2014 $3,897 $359,333 $53,355 $305,978
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 21-420

Santa Barbara Multiple Listing Service

APN: 031-053-004

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