NOT LISTED FOR SALE
Studio
-- Bath
14,060 Sq Ft
0.41 Acre Lot

Sale Details

Date Sold: October 6, 2014

Last sale price $1,650,000 $117 Per Sq Ft

111 Days on Market

About This Home

As of October 2014

This 16-unit apartment property is located in the northeast quadrant of the city of Santa Maria at the northeast corner of East Bunny Avenue and North McCelland Street. The unit mix consists of one studio, with the remaining 15 units two-bedroom / one-bath floor plans. There is a fairly significant upside in the unit rents.

Last Agent to Sell the Property

Craig Lieberman

Apartment Investment Specialists License #00682741 Listed on: 02/27/2014

Apartment Investment Specialists

Last Buyer's Agent

Craig Lieberman

Apartment Investment Specialists License #00682741 Listed on: 02/27/2014

Apartment Investment Specialists
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 0.41

Additional Features

  • 17,860 Sq Ft Lot
  • Individual Gas Meter

Community Details

  • 16 Units
  • Gross Income $159,659

Listing and Financial Details

  • Assessor Parcel Number 121-051-012

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0.41 Acres

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1960
  • Income Expenses Annual Income: 159659.0
  • Capitalization Rate: 5.19%
  • Gross Rent Multiplier: 10.59
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Property Information Year Built2: 1960
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • Property Information Apx Lot SqFt: 17860.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.41

Schools

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

Lot Info

  • Parcel #: 121-051-012
  • Zoning: R-4
  • Lot Size Sq Ft: 17860.0

Multi Family

  • Number Of Units Total: 16
  • Annual Gross Income: 159659.0

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
Jan 26, 2016
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
$1,589,000
Interest Rate
3.72%
Mortgage Type
Commercial

Purchase Details

Listed on
Feb 27, 2014
Closed on
Aug 21, 2014
Sold by
Bought by
Seller's Agent
Craig Lieberman
Apartment Investment Specialists
Buyer's Agent
Craig Lieberman
Apartment Investment Specialists
List Price
$1,750,000
Sold Price
$1,650,000
Premium/Discount to List
-$100,000
-5.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,155,000
Interest Rate
4.07%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 8, 2002
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
$766,200
Interest Rate
7.13%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 24, 1998
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
$2,270,000 Fidelity National Title Co
$1,650,000 Fidelity National Title Co
$150,909 Chicago Title Co
-- Chicago Title Co
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 $2,650,000
Closed $2,200,000
Closed $2,050,000
Previous Owner $1,589,000
Previous Owner $1,155,000
Previous Owner $780,000
Previous Owner $766,200
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
10/06/2014 10/06/14 Sold $1,650,000 -5.7% $117 / Sq Ft
06/18/2014 06/18/14 Pending -- -- --
02/27/2014 02/27/14 For Sale $1,750,000 -- $124 / 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 $29,783 $2,704,732 $579,582 $2,125,150
2025 $29,783 $2,651,699 $568,218 $2,083,481
2023 $28,455 $2,548,732 $546,154 $2,002,578
2022 $27,548 $2,498,758 $535,446 $1,963,312
2021 $26,836 $2,449,764 $524,948 $1,924,816
2020 $26,800 $2,424,646 $519,566 $1,905,080
2019 $26,498 $2,377,105 $509,379 $1,867,726
2018 $26,165 $2,330,496 $499,392 $1,831,104
2017 $25,882 $2,284,800 $489,600 $1,795,200
2016 $18,254 $1,649,781 $431,481 $1,218,300
2015 $17,969 $1,625,000 $425,000 $1,200,000
2014 $13,497 $1,253,313 $361,530 $891,783
Source: Public Records

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 14-611

Santa Barbara Multiple Listing Service
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