NOT LISTED FOR SALE

212 Cottage Grove Ave Santa Barbara, CA 93101

Estimated Value: $5,458,061

2 Beds
6 Baths
7,005 Sq Ft
$779/Sq Ft Est. Value

Last Sold April 13, 2012

Last sale price $1,500,000 $214 Per Sq Ft

Est. 264% increase in value since last sale

Current estimated payment $30,937/month

14 Days on Market

Highlights

  • Property is near public transit
  • Central Air
  • 5-minute walk to Bath Street Pocket Park
  • San Marcos Senior High School Rated A
  • Property is in excellent condition

About This Home

As of April 2012

Absolutely beautiful craftsman style
mixed use building w/ 100% occupancy.
Upstairs are 3 units used as apartments w/ vaulted ceilings & balconies/patios w/ mountain views. Units are in excellent condition. Dishwashers in 2 of the units. Downstairs is a 4,050 SF office space, occupied by a tenant paying who has been there 20 years paying $1.38 NNN/SF, with lease expiring 7/31/2013. 22 pkng spaces

Last Agent to Sell the Property

Mitch Stark

Berkshire Hathaway HomeServices California Properties License #01196532 Listed on: 02/15/2012

Berkshire Hathaway HomeServices California Properties

Last Buyer's Agent

Kim Hughes

Santa Barbara Real Estate & In License #00638070

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,422

Year Built

  • Built in 1987

Lot Details

  • 0.28 Acre Lot
  • Property is in excellent condition

Home Design

  • Slab Foundation

Interior Spaces

  • 2-Story Property
  • Dishwasher

Parking

  • 22 Parking Spaces
  • Open Parking

Location

  • Property is near public transit
  • Property is near a bus stop

Utilities

  • Central Air
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 037-201-017

Community Details

Overview

  • 6 Units
  • 15 Or 20 Downtown Subdivision

Building Details

  • Gross Income $145,419
  • Net Operating Income $93,821

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,422

Year Built

Built in 1987

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1987
  • Income Expenses Annual Income: 145419.0
  • Capitalization Rate: 6.25
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: Y
  • Miscellaneous Parking Spaces: 22.0
  • Building Stories: 2
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 15 or 20 - Downtown
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 1987
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • Parking Info Uncovered: Yes
  • Condition Excellent: Yes
  • Foundation:Slab: Yes
  • Property Information Apx Lot SqFt: 12196.0
  • Proximity Near Bus: Yes
  • General Property Information Stories2: 2.0
  • HeatingCooling AC Central2: Yes
  • Amenities Dishwasher2: Yes
  • Assessor's Data Assessor Lot Acres: 0.14
  • IncomeExpenses NOI2: 93821
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.28
  • Foundation Details: Slab

Garage/Parking

  • Open Parking: Yes
  • Parking Features: Uncovered, Unc #5
  • Total Parking Spaces: 22.0

Schools

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

Lot Info

  • Parcel #: 037-201-017
  • Zoning: C-2
  • Lot Size Sq Ft: 12196.0

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 145419.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 15, 2018
Sold by
Pali Cap Management 10 Llc
Bought by
Watabun Usa Inc
Current Estimated Value
$5,458,061

Purchase Details

Closed on
Feb 21, 2017
Sold by
Hughes Kim
Bought by
Pali Cap Management 10 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,925,000
Interest Rate
4.12%
Mortgage Type
Commercial

Purchase Details

Listed on
Feb 15, 2012
Closed on
Apr 9, 2012
Sold by
Stapelmann Frank
Bought by
Hughes Kim and The Hughes Land Holding Trust
Seller's Agent
Mitch Stark
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Kim Hughes
Santa Barbara Real Estate & In
List Price
$1,500,000
Sold Price
$1,500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.00%

Purchase Details

Listed on
Feb 15, 2012
Closed on
Apr 5, 2012
Sold by
Stapelmann Reyne
Bought by
Stapelmann Frank
Seller's Agent
Mitch Stark
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Kim Hughes
Santa Barbara Real Estate & In
List Price
$1,500,000
Sold Price
$1,500,000
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Watabun Usa Inc $3,175,000 Fidelity National Title Co
Pali Cap Management 10 Llc $2,750,000 First American Title Company
Hughes Kim $1,500,000 Fidelity National Title Co
Stapelmann Frank -- Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Pali Cap Management 10 Llc $1,925,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/13/2012 04/13/12 Sold $1,500,000 0.0% $214 / Sq Ft
02/29/2012 02/29/12 Pending -- -- --
02/15/2012 02/15/12 For Sale $1,500,000 -- $214 / Sq Ft
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 $28,422 $2,736,474 $853,369 $1,883,105
2023 $28,422 $2,630,216 $820,233 $1,809,983
2022 $27,428 $2,578,644 $804,150 $1,774,494
2021 $26,799 $2,528,083 $788,383 $1,739,700
2020 $26,523 $2,502,162 $780,300 $1,721,862
2019 $26,061 $2,453,100 $765,000 $1,688,100
2018 $23,270 $2,177,700 $612,000 $1,565,700
2017 $13,027 $1,233,774 $378,790 $854,984
2016 $12,737 $1,209,583 $371,363 $838,220
2014 $12,391 $1,168,078 $358,620 $809,458
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2012

    Mitch Stark

    Berkshire Hathaway HomeServices California Properties

    (805) 969-5026

    79 Total Sales

    Mitch Stark
    Section Image

  • K

    Buyer's Agent in 2012

    Kim Hughes

    Santa Barbara Real Estate & In

    Section Image
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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 12-539

Santa Barbara Multiple Listing Service

APN: 037-201-017

California Santa Barbara County Santa Barbara 93101

212 Cottage Grove Ave, Santa Barbara, CA

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