NOT LISTED FOR SALE

363 Palm Way Buellton, CA 93427

-- Bed
-- Bath
11,568 Sq Ft
1.03 Acres Lot

Sale Details

Date Sold: August 21, 2014

Last sale price $2,950,000 $255 Per Sq Ft

280 Days on Market

Highlights

  • 1.03 Acre Lot
  • Property is near park, public transit, schools, shops, and bus stop
  • Wood Flooring
  • Jonata Middle School Rated 9+

About This Home

As of August 2014

22-Units in Buellton on one acre lot with ample parking. Property was built in 1984 and consists of (2)-2Bed/1Bath and (20)-1Bed/1Bath. Clean bread and butter units. Upside in rents. Buellton is a strong rental market with relatively few apartment buildings. Strong employment from Vandenberg Air force base to the west, Santa Ynez Valley and Chumash Casino to the east, Santa Barbara to the south. Monthly income CAP and GRM are based upon projected rents

Last Agent to Sell the Property

Steve Battaglia

Battaglia Commercial Real Esta License #01318215 Listed on: 05/01/2014

Last Buyer's Agent

Ronald Wolfe

Ronald L. Wolfe & Assoc. Inc. License #00354504

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 1.03 Acre Lot
  • Property is in good condition

Home Design

  • Slab Foundation

Flooring

  • Wood
  • Carpet
  • Vinyl Plank
  • Vinyl

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Individual Gas Meter

Additional Features

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

Community Details

  • 22 Units
  • Gross Income $247,800

Listing and Financial Details

  • The owner pays for water
  • Assessor Parcel Number 099-271-033

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

1.03 Acres

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1984
  • Income Expenses Annual Income: 247800.0
  • Capitalization Rate: 4.12
  • Gross Rent Multiplier: 14.56
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Building Stories: 2
  • ResoLaundryFeatures: None
  • ResoLotFeatures: Near Public Transit
  • Reso Flooring: Vinyl, Carpet, Wood/Laminate
  • New Construction: No
  • Reso Property Condition: Good
  • Property Information Year Built2: 1984
  • Property Information Apx # Acres: 1.03
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • HeatingCooling Wall3: Yes
  • Foundation:Slab: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 44867.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • FlrWdw Coverings WoodLaminate2: Yes
  • General Property Information Stories2: 2.0
  • FlrWdw Coverings Vinyl2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 1.03
  • Foundation Details: Slab

Schools

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

Lot Info

  • Parcel #: 099-271-033
  • Zoning: Other
  • Lot Size Sq Ft: 44867.0

Rental Info

  • Owner Pays: Water

Multi Family

  • Number Of Units Total: 22
  • Annual Gross Income: 247800.0
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/05/2025 03/05/25 Off Market $1,750 -- --
02/01/2025 02/01/25 Price Changed $1,750 -2.5% --
01/17/2025 01/17/25 For Rent $1,795 0.0% --
08/21/2014 08/21/14 Sold $2,950,000 -15.7% $255 / Sq Ft
06/26/2014 06/26/14 Pending -- -- --
09/19/2013 09/19/13 For Sale $3,500,000 -- $303 / 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 $37,922 $3,566,538 $1,089,874 $2,476,664
2023 $37,922 $3,428,046 $1,047,553 $2,380,493
2022 $36,687 $3,360,830 $1,027,013 $2,333,817
2021 $36,078 $3,294,932 $1,006,876 $2,288,056
2020 $35,433 $3,241,866 $989,043 $2,252,823
2019 $34,815 $3,178,300 $969,650 $2,208,650
2018 $34,200 $3,115,982 $950,638 $2,165,344
2017 $33,611 $3,054,886 $931,999 $2,122,887
2016 $32,343 $2,994,987 $913,725 $2,081,262
2015 $31,933 $2,950,000 $900,000 $2,050,000
2014 $13,269 $1,222,913 $435,363 $787,550
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 13-3029

Santa Barbara Multiple Listing Service
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