NOT LISTED FOR SALE

2525 Banner Ave Summerland, CA 93067

Estimated Value: $2,818,000 - $4,108,518

-- Bed
-- Bath
1,924 Sq Ft
$1,764/Sq Ft Est. Value

Last Sold December 17, 2021

Last sale price $2,900,000 $1,507 Per Sq Ft

Est. 17% increase in value since last sale

Current estimated payment $20,715/month

About This Home

The possibilities are endless with this beautiful seaside multi-unit property!

Currently operated as a short-term rental with great cash flow. Each unit has private entrance, full kitchen, and balcony with incredible ocean and island views.
Upper unit 'Sky' is 1bed/1bath with valued ceilings and ocean views from every room. 'Sand' unit is lower level 1bed/1bath with the best deck on the property. 'Surf' unit is the largest unit with 2bd/1bath, great natural light and expansive outdoor area.

The property is walking distance to restaurants and shopping in Summerland, and only a few minutes from Montecito and Santa Barbara.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 23, 2021
Closed on
Dec 1, 2021
Sold by
Schafer Owen M and Owen M Schafer Family Revocabl
Bought by
2525 Banner Avenue Llc
Seller's Agent
Kourtney Wright
Compass First, Inc.
Buyer's Agent
Gary Goldberg
Coastal Properties
List Price
$2,950,000
Sold Price
$2,900,000
Premium/Discount to List
-$50,000
-1.69%
Current Estimated Value
$3,394,880

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$494,880
Avg. Annual Appreciation
4.17%

Purchase Details

Listed on
Jun 7, 2020
Closed on
Oct 23, 2020
Sold by
Rado Kristina
Bought by
Schafer Owen M
Seller's Agent
Grubb Campbell Group
Village Properties
Buyer's Agent
Kourtney Wright
Compass First, Inc.
List Price
$2,250,000
Sold Price
$2,225,000
Premium/Discount to List
-$25,000
-1.11%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
26.16%

Purchase Details

Closed on
Jul 11, 2014
Sold by
Goodman Beth
Bought by
Rado Kristina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,011,500
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 17, 2011
Sold by
Mcdonald Bryan H and Mcdonald Dorothy J
Bought by
Goodman Beth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
4.53%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 11, 2005
Sold by
Mcdonald Pamela
Bought by
Mcdonald Pamela
Source: Public Records

Range of Values:

Collateral Analytics

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ICE

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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
2525 Banner Avenue Llc $2,900,000 Chicago Title Company
Schafer Owen M $2,225,000 Chicago Title Company
Rado Kristina $1,445,000 Fidelity National Title
Goodman Beth $800,000 Fidelity National Title Co
Mcdonald Pamela -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Rado Kristina $1,011,500
Previous Owner Goodman Beth $800,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/17/2021 12/17/21 Sold $2,900,000 -1.7% $1,507 / Sq Ft View Prior Sale
10/24/2021 10/24/21 Pending -- -- --
10/23/2021 10/23/21 For Sale $2,950,000 +32.6% $1,533 / Sq Ft
10/28/2020 10/28/20 Sold $2,225,000 0.0% -- View Prior Sale
10/28/2020 10/28/20 Sold $2,225,000 -1.1% -- View Prior Sale
09/30/2020 09/30/20 Pending -- -- --
09/30/2020 09/30/20 Pending -- -- --
06/07/2020 06/07/20 For Sale $2,250,000 0.0% --
06/05/2020 06/05/20 For Sale $2,250,000 -- --

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 $35,356 $3,077,503 $1,857,114 $1,220,389
2023 $35,356 $2,958,000 $1,785,000 $1,173,000
2022 $34,298 $2,900,000 $1,750,000 $1,150,000
2021 $27,034 $2,225,000 $1,500,000 $725,000
2020 $20,222 $1,587,963 $1,098,938 $489,025
2019 $19,737 $1,556,828 $1,077,391 $479,437
2018 $19,365 $1,526,303 $1,056,266 $470,037
2017 $18,978 $1,496,376 $1,035,555 $460,821
2016 $18,614 $1,467,036 $1,015,250 $451,786
2014 $11,249 $819,703 $589,162 $230,541
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2021

    Kourtney Wright

    Compass First, Inc.

  • Gary Goldberg

    Buyer's Agent in 2021

    Gary Goldberg

    Coastal Properties

    (805) 455-8910

    3 in this area

    103 Total Sales

    Gary Goldberg
    Section Image

  • G

    Seller's Agent in 2020

    Grubb Campbell Group

    Village Properties

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Map

California Santa Barbara County Summerland 93067

2525 Banner Ave, Summerland, CA

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