NOT LISTED FOR SALE
-- Bed
-- Bath
-- Sq Ft
6,534 Sq Ft Lot

Sale Details

Date Sold: May 10, 2018

Last sale price $1,600,000

78 Days on Market

Highlights

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

About This Home

As of May 2018

The Haley corridor is highly sought after and several new large projects are in process, including this same block. Only 2 blocks from State St, 4 blocks to the beach, and a block away from the Funk Zone. Several new projects happening very nearby. Excellent cash flow from this desirable location.

Last Agent to Sell the Property

Lenny Gerthoffer

Sun Coast Real Estate Listed on: 02/12/2018

Last Buyer's Agent

Lenny Gerthoffer

Blue Star Real Estate License #01019467

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1935

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 125 x 52
  • Fenced
  • Property is in average condition

Parking

  • On-Street Parking

Schools

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

Additional Features

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

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 031-202-011

Community Details

Overview

  • 7 Units
  • 15 Lower Eastside Subdivision

Building Details

  • Gross Income $204,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1935

Lot Details

6,534 Sq Ft Lot

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1935
  • Income Expenses Annual Income: 204000.0
  • Capitalization Rate: 7.8
  • Gross Rent Multiplier: 8.3
  • Monthly Income: 17000.0
  • Building Stories: 2
  • ResoLaundryFeatures: None
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 15 - Lower Eastside
  • New Construction: No
  • Reso Property Condition: Fair
  • Property Information Year Built2: 1935
  • NeighborhoodSchools Elementary School: Franklin
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 6534.0
  • Proximity Near Bus: Yes
  • Amenities Fncd All: Yes
  • Property Information Apx Lot Size FxD: 125 x 52
  • General Property Information Stories2: 2.0
  • Condition Fair2: Yes
  • Parking Info Street Only3: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.15
  • Foundation Details: Mixed

Garage/Parking

  • Parking Features: Street Only

Schools

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

Lot Info

  • Parcel #: 031-202-011
  • Zoning: Other
  • Lot Size Sq Ft: 6534.0
  • ResoLotSizeUnits: Apx Lot Size FxD

Rental Info

  • Owner Pays: Trash Collection, Water

Multi Family

  • Number Of Units Total: 7
  • Annual Gross Income: 204000.0
  • Total Actual Rent: 17000.0

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

Listed on
Feb 12, 2018
Closed on
May 2, 2018
Sold by
Bought by
Seller's Agent
Lenny Gerthoffer
Sun Coast Real Estate
Buyer's Agent
Lenny Gerthoffer
Sun Coast Real Estate
List Price
$1,700,000
Sold Price
$1,600,000
Premium/Discount to List
-$100,000
-5.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
4.44%
Mortgage Type
Commercial

Purchase Details

Listed on
Sep 1, 2017
Closed on
Sep 14, 2017
Sold by
Bought by
Seller's Agent
Lenny Gerthoffer
Sun Coast Real Estate
Buyer's Agent
Lenny Gerthoffer
Sun Coast Real Estate
List Price
$1,495,000
Sold Price
$1,300,000
Premium/Discount to List
-$195,000
-13.04%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
42.18%
Original Mortgage
$900,000
Interest Rate
3.86%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 16, 2006
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
$1,000,000
Interest Rate
6.28%
Mortgage Type
Commercial

Purchase Details

Closed on
May 11, 2006
Sold by
Bought by

Purchase Details

Closed on
Jan 22, 2003
Sold by
Bought by

Purchase Details

Closed on
Dec 11, 1998
Sold by
Bought by

Purchase Details

Closed on
Jul 25, 1995
Sold by
Bought by

Purchase Details

Closed on
May 25, 1995
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
$1,600,000 Fidelity National Title Co
-- First American Title Company
$1,279,500 First American Title Company
$1,400,000 United General Title Ins Co
-- None Available
-- Chicago Title Co
-- Chicago Title Co
$350,000 First American Title Co
$240,000 Santa Barbara Title
$268,754 Stewart Title
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 $1,400,000
Closed $160,000
Previous Owner $900,000
Previous Owner $1,003,500
Previous Owner $1,000,000
Previous Owner $499,000
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 Prior Sale
05/10/2018 05/10/18 Sold $1,600,000 -5.9% --
05/01/2018 05/01/18 Pending -- -- --
02/12/2018 02/12/18 For Sale $1,700,000 +30.8% --
10/06/2017 10/06/17 Sold $1,300,000 -13.0% -- View Prior Sale
09/01/2017 09/01/17 Pending -- -- --
07/03/2017 07/03/17 For Sale $1,495,000 -- --
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 $19,259 $1,856,931 $1,102,553 $754,378
2025 $18,929 $1,820,522 $1,080,935 $739,587
2023 $18,929 $1,749,831 $1,038,962 $710,869
2022 $18,267 $1,715,522 $1,018,591 $696,931
2021 $17,847 $1,681,885 $998,619 $683,266
2020 $17,663 $1,664,640 $988,380 $676,260
2019 $17,355 $1,632,000 $969,000 $663,000
2018 $13,693 $1,279,480 $709,000 $570,480
2017 $17,039 $1,615,623 $935,067 $680,556
2016 $16,632 $1,584,014 $916,733 $667,281
2015 $16,450 $1,560,274 $902,963 $657,311
2014 -- $1,529,780 $885,276 $644,504
Source: Public Records

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 18-481

Santa Barbara Multiple Listing Service
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