NOT LISTED FOR SALE

245 Ellwood Beach Dr Goleta, CA 93117

Estimated Value: $1,654,000 - $2,689,062

Studio
-- Bath
3,718 Sq Ft
$583/Sq Ft Est. Value

Sale Details

Date Sold: January 28, 2020

Last sale price $1,637,000 $440 Per Sq Ft

Est. 32% increase in value since last sale

Current estimated payment $13,173 / mo

208 Days on Market

Highlights

  • Property is near park, public transit, schools, shops, and bus stop
  • Ellwood Elementary School Rated A-
  • Laundry Room

About This Home

As of January 2020

Located in the heart of Goleta's booming technology corridor, this 4-unit building offers an upside investment opportunity in a very high rental demand area of well-paying employers. The unit mix of 1 x 3/2, 2 x 2/1.5, 1 x 1/1 is a desirable variety of floorplans, and mix of single-level and townhomes. The total living area is a substantial 3700+sf (per assessor), plus a large private patio for the 3-BR unit, smaller patios for the other units, and a 4-car carport + 5th space. Located within 2 miles of many of the top local companies, and near to UCSB, Camino Real Marketplace, Bacara Resort and Pacific Ocean. Financials are actual only - room in the rents as-is, or invest further in a value-add upgrade supported by this tenant-rich location. Floorplan and Offering Memorandum in Documents

Last Agent to Sell the Property

Ken Switzer

Berkshire Hathaway HomeServices California Properties License #01245644 Listed on: 10/10/2019

Berkshire Hathaway HomeServices California Properties

Last Buyer's Agent

Angela Moloney

Berkshire Hathaway HomeServices California Properties License #01221588

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Lot Details

  • 6,098

Home Design

  • Slab Foundation

Parking

  • 5 Parking Spaces
  • Carport
  • Open Parking

Schools

  • Ellwood Elementary School
  • Gol Valley Middle School
  • Dos Pueblos High School

Additional Features

  • Laundry Room
  • Property is in good condition
  • Property is near park, public transit, schools, shops, and bus stop
  • Individual Gas Meter

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 079-552-022

Community Details

Overview

  • 4 Units
  • 30 Ellwood/Santa Barbara Shores Subdivision

Building Details

  • Electric Expense $400
  • Fuel Expense $1,200
  • Insurance Expense $1,400
  • Trash Expense $2,400
  • Water Sewer Expense $3,400
  • New Taxes Expense $18,300
  • Operating Expense $42,000
  • Gross Income $97,200
  • Net Operating Income $55,000

Property Details

Home Type

Multi-Family

Lot Details

6,098 Sq Ft Lot

Listing Details

  • Prop. Type: ResidentialIncome
  • Income Expenses Annual Income: 97200.0
  • Income Expenses Electric Expense: 400.0
  • Income Expenses Gas Expense: 1200.0
  • Gross Rent Multiplier: 17.0
  • Annual Expenses: 42000.0
  • Monthly Income: 8000.0
  • Income Expenses Trash Expense: 2400.0
  • Income Expenses Water Expense: 3400.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 5.0
  • ResoLaundryFeatures: Laundry Room
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 30 - Ellwood/Santa Barbara Shores
  • Carport Y N: Yes
  • New Construction: No
  • Reso Property Condition: Good
  • NeighborhoodSchools Elementary School: Ellwood
  • NeighborhoodSchools Junior High School: Gol Valley
  • NeighborhoodSchools High School: Dos Pueblos
  • Foundation:Slab: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Laundry Laundry Room2: Yes
  • Proximity Near Shopping2: Yes
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • IncomeExpenses Taxes6: 18300.0
  • Parking Info Cpt #43: Yes
  • Income Expenses Actual: Yes
  • IncomeExpenses NOI2: 55000
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Foundation Details: Slab

Garage/Parking

  • Open Parking: Yes
  • Parking Features: Cpt #4, Unc #1
  • Total Parking Spaces: 5.0

Fee Information

  • Annual Fuel Expense: 1200.0
  • Trash Expense: 2400.0
  • Annual Water Sewer Expense: 3400.0

Schools

  • Elementary School: Ellwood
  • High School: Dos Pueblos
  • Middle Or Junior School: Gol Valley

Lot Info

  • Parcel #: 079-552-022
  • Zoning: Other

Rental Info

  • Owner Pays: Trash Collection, Water

Multi Family

  • Number Of Units Total: 4
  • Electric Expense: 400.0
  • Annual Gross Income: 97200.0
  • Insurance Expense: 1400.0
  • Annual Operating Expense: 42000.0
  • Total Actual Rent: 8000.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 10, 2019
Closed on
Jan 17, 2020
Sold by
Derisio Richard J and Derisio Megan L
Bought by
Siegel Julie T and The Siegel Trust
Seller's Agent
Ken Switzer
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Angela Moloney
Berkshire Hathaway HomeServices California Properties
List Price
$1,650,000
Sold Price
$1,637,000
Premium/Discount to List
-$13,000
-0.79%
Current Estimated Value
$2,168,016

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$531,016
Avg. Annual Appreciation
4.59%
Original Mortgage
$982,200
Outstanding Balance
$869,980
Interest Rate
3.73%
Mortgage Type
New Conventional
Estimated Equity
$1,298,036

Purchase Details

Closed on
Aug 23, 2008
Sold by
Derisio Richard J and Derisio Megan L
Bought by
Derisio Richard J and Derisio Megan L

Purchase Details

Closed on
Dec 23, 2004
Sold by
Mahboob Ray and Mahboob Mohammad
Bought by
Derisio Richard J and Derisio Megan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$997,750
Interest Rate
5.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 17, 2003
Sold by
Wolfe Ronald L and Cavender Mary Jean
Bought by
Mahboob Ray and Mahboob Mohammed

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
4.12%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 16, 2003
Sold by
Wolfe Sharon
Bought by
Wolfe Ronald L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
4.12%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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

Date Buyer Sale Price Title Company
Siegel Julie T $1,637,000 Chicago Title Company
Derisio Richard J -- None Available
Derisio Richard J -- Fidelity National Title Co
Mahboob Ray $958,000 Stewart Title
Wolfe Ronald L -- Stewart Title California Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Siegel Julie T $982,200
Previous Owner Derisio Richard J $997,750
Previous Owner Mahboob Ray $650,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/28/2020 01/28/20 Sold $1,637,000 -0.8% $440 / Sq Ft
12/16/2019 12/16/19 Pending -- -- --
05/22/2019 05/22/19 For Sale $1,650,000 -- $444 / Sq Ft
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 $20,130 $1,790,293 $546,820 $1,243,473
2023 $20,130 $1,720,777 $525,588 $1,195,189
2022 $19,008 $1,687,037 $515,283 $1,171,754
2021 $18,706 $1,653,959 $505,180 $1,148,779
2020 $18,227 $1,637,000 $850,000 $787,000
2019 $15,691 $1,392,000 $749,000 $643,000
2018 $15,413 $1,365,000 $734,000 $631,000
2017 $14,776 $1,300,000 $699,000 $601,000
2016 $13,956 $1,238,000 $666,000 $572,000
2014 $13,037 $1,156,000 $622,000 $534,000
Source: Public Records

Agents Affiliated with this Home

  • Ken Switzer

    Seller's Agent in 2020

    Ken Switzer

    Berkshire Hathaway HomeServices California Properties

    (805) 680-4622

    9 in this area

    101 Total Sales

    Ken Switzer
    Section Image

  • A

    Buyer's Agent in 2020

    Angela Moloney

    Berkshire Hathaway HomeServices California Properties

    (805) 451-1553

    1 in this area

    30 Total Sales

    Angela Moloney
    Section Image
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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 19-1804

Santa Barbara Multiple Listing Service

APN: 079-552-022

California Santa Barbara County Goleta 93117

245 Ellwood Beach Dr, Goleta, CA

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