NOT LISTED FOR SALE
5 Beds
-- Bath
2,800 Sq Ft
0.25 Acre Lot

Sale Details

Date Sold: September 14, 2020

Last sale price $1,445,905 $516 Per Sq Ft

18 Days on Market

Highlights

  • Property is near an ocean
  • Property is near park, public transit, schools, shops, and bus stop
  • 1-Story Property
  • San Marcos Senior High School Rated A-
  • Laundry Room

About This Home

As of September 2020

Excellent opportunity to own a multifamily property near Santa Barbara's favorite amenities. Three minute drive from Santa Barbara City College, West Beach and the harbor. Very close to the popular Funk Zone, Downtown and Amtrak Station. Lots of nearby options for beaches, shopping, dining, boating, parks and museums. High demand rental location with ample parking.

Last Agent to Sell the Property

Brian Barrios

Cooperation Capital Group, Inc License #01379489 Listed on: 06/26/2020

Last Buyer's Agent

Non Member Agent

Non Member Office

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1975

Lot Details

  • 10,890 Sq Ft Lot
  • Property is in average condition

Home Design

  • Slab Foundation

Interior Spaces

  • 2,800 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Schools

  • Mckinley Elementary School
  • Lacumbre Middle School
  • San Marcos High School

Additional Features

  • Property is near an ocean
  • Property is near park, public transit, schools, shops, and bus stop
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 037-260-010

Community Details

Overview

  • 5 Units

Building Details

  • Operating Expense $40,543
  • Gross Income $93,168
  • Net Operating Income $50,761

Property Details

Home Type

Multi-Family

Year Built

Built in 1975

Lot Details

0.25 Acres

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1975
  • Income Expenses Annual Income: 93168.0
  • Capitalization Rate: 3.17
  • Gross Rent Multiplier: 17.54
  • Annual Expenses: 40543.0
  • Monthly Income: 7764.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 8.0
  • Building Stories: 1
  • ResoLaundryFeatures: Laundry Room
  • ResoLotFeatures: Near Public Transit
  • New Construction: No
  • Reso Property Condition: Average
  • Property Information Year Built2: 1975
  • Property Information Apx # Acres: 0.25
  • NeighborhoodSchools Elementary School: McKinley
  • NeighborhoodSchools Junior High School: LaCumbre
  • NeighborhoodSchools High School: San Marcos
  • Parking Info Uncovered: Yes
  • Parking Info Total # Unconvered Spaces: 8.0
  • Foundation:Slab: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Laundry Laundry Room2: Yes
  • Property Information Main House SqFt: 2800.0
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 10890.0
  • Proximity Near Bus: Yes
  • General Property Information Stories2: 1.0
  • Condition Average2: Yes
  • Income Expenses Actual: Yes
  • IncomeExpenses NOI2: 50761
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Exterior Features

  • Acres: 0.25
  • Foundation Details: Slab

Garage/Parking

  • Open Parking Spaces: 8.0
  • Parking Features: Uncovered
  • Total Parking Spaces: 8.0

Schools

  • Elementary School: McKinley
  • High School: San Marcos
  • Middle Or Junior School: LaCumbre

Lot Info

  • Parcel #: 037-260-010
  • Zoning: CLA
  • Lot Size Sq Ft: 10890.0

Multi Family

  • Number Of Units Total: 5
  • Annual Gross Income: 93168.0
  • Annual Operating Expense: 40543.0
  • Total Actual Rent: 7764.0

Ownership 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 Name Owned For Owner Type

Purchase Details

Closed on
Mar 15, 2021
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
2.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 1, 2021
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
2.7%
Mortgage Type
Commercial

Purchase Details

Listed on
Jun 26, 2020
Closed on
Aug 21, 2020
Sold by
Bought by
Seller's Agent
Brian Barrios
Cooperation Capital Group, Inc
Buyer's Agent
Non Member Agent
Non Member Office
List Price
$1,600,000
Sold Price
$1,445,905
Premium/Discount to List
-$154,095
-9.63%

Purchase Details

Closed on
Dec 19, 2018
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
-- North American Title Co Inc
-- None Listed On Document
-- None Listed On Document
$1,446,000 First American Title Company
-- None Available
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Open $250,000
Closed $120,000
Previous Owner $231,000
Source: Public Records

Property 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 Event Price List to Sale Price per Sq Ft
09/14/2020 09/14/20 Sold $1,445,905 -9.6% $516 / Sq Ft
07/14/2020 07/14/20 Pending -- -- --
06/26/2020 06/26/20 For Sale $1,600,000 -- $571 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Tax 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.

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
2026 $17,389 $1,675,991 $1,324,895 $351,096
2025 $17,092 $1,643,129 $1,298,917 $344,212
2023 $17,092 $1,579,327 $1,248,480 $330,847
2022 $16,493 $1,548,360 $1,224,000 $324,360
2021 $16,113 $1,518,000 $1,200,000 $318,000
2020 $4,341 $405,045 $159,116 $245,929
2019 $4,266 $397,153 $155,997 $241,156
2018 $4,206 $389,416 $152,939 $236,477
2017 $4,067 $381,831 $149,941 $231,890
2016 $4,042 $374,394 $147,001 $227,393
2014 $3,934 $361,633 $141,957 $219,676
Source: Public Records

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 20-2398

Santa Barbara Multiple Listing Service
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