NOT LISTED FOR SALE

410 W Micheltorena St Santa Barbara, CA 93101

Oak Park Neighborhood
-- Bed
-- Bath
9,615 Sq Ft
0.36 Acres

Last Sold January 29, 2020

Last sale price $5,225,000 $543 Per Sq Ft

379 Days on Market

Highlights

  • 0.36 Acre Lot
  • Property is near a park
  • 17 Car Detached Garage
  • Santa Barbara Senior High School Rated A-
  • Wood Flooring
  • Patio

About This Home

As of January 2020

This recently updated 12+ unit Downtown Santa Barbara multi-family investment generates a great return but still has room to grow in rental income. This beautiful property conveniently located near highways and downtown features a 12,014 square foot building with 16 covered parking spaces, onsite laundry, and lovely landscaped grounds . New flooring, updated kitchens/baths, fresh paint and close to market rents with room to grown makes this an excellent opportunity!! There is an assumable loan of approximately $3,200,000 at 3.8%!

Last Agent to Sell the Property

John Thyne

Goodwin & Thyne Properties License #01356582 Listed on: 10/25/2018

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 0.36 Acre Lot
  • Partially Fenced Property
  • Property is in excellent condition

Interior Spaces

  • 2-Story Property
  • Fire and Smoke Detector
  • Built-In Oven

Flooring

  • Wood
  • Carpet
  • Vinyl Plank

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 17 Car Detached Garage
  • 16 Carport Spaces

Outdoor Features

  • Patio

Location

  • Property is near a park
  • Property is near public transit
  • Property near a hospital
  • Property is near shops
  • Property is near a bus stop

Schools

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

Utilities

  • Heating Available
  • 220 Volts
  • Individual Gas Meter
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 027-211-011

Community Details

Overview

  • 12 Units
  • 15 Or 20 Downtown Subdivision

Building Details

  • Insurance Expense $3,500
  • New Taxes Expense $29,815
  • Operating Expense $66,362
  • Gross Income $381,840
  • Net Operating Income $264,348

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1968
  • Income Expenses Annual Income: 381840.0
  • Capitalization Rate: 5.0
  • Gross Rent Multiplier: 15
  • Annual Expenses: 66362.0
  • Monthly Income: 31820.0
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 17.0
  • Building Stories: 2
  • ResoLaundryFeatures: Laundry Room
  • ResoLotFeatures: Near Public Transit
  • ResoSecurityFeatures: Smoke Detector(s)
  • Subdivision Name: 15 or 20 - Downtown
  • Reso Flooring: Carpet, Wood/Laminate
  • Garage Yn: Yes
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 1968
  • NeighborhoodSchools Elementary School: Peabody
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Parking Info Total # Carport Spaces2: 16.0
  • Condition Excellent: Yes
  • Proximity Near Park(s)2: Yes
  • Laundry Laundry Room2: Yes
  • Security Smoke Detector(s)2: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 15552.0
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • FlrWdw Coverings WoodLaminate2: Yes
  • Proximity Near Hospital2: Yes
  • General Property Information Stories2: 2.0
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • Amenities Patio2: Yes
  • Parking Info Detached3: Yes
  • Amenities:_two_20V: Yes
  • IncomeExpenses Taxes6: 29815.0
  • Amenities OvensBltin: Yes
  • Amenities Fncd Prt: Yes
  • IncomeExpenses NOI2: 264348
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.36
  • Foundation Details: Other

Garage/Parking

  • Parking Features: Detached
  • Total Parking Spaces: 17.0

Utilities

  • Heating: Other
  • HeatingYN: Yes

Association/Amenities

  • Association Amenities:Cable TV: Yes

Schools

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

Lot Info

  • Parcel #: 027-211-011
  • Zoning: Other
  • Lot Size Sq Ft: 15552.0

Multi Family

  • Number Of Units Total: 12
  • Annual Gross Income: 381840.0
  • Insurance Expense: 3500.0
  • Annual Operating Expense: 66362.0
  • Total Actual Rent: 31820.0

Range of Values:

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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 Prior Sale
01/29/2020 01/29/20 Sold $5,225,000 -0.5% $543 / Sq Ft
11/08/2019 11/08/19 Pending -- -- --
10/25/2018 10/25/18 For Sale $5,250,000 +28.0% $546 / Sq Ft
11/08/2016 11/08/16 Sold $4,100,000 0.0% $426 / Sq Ft View Prior Sale
11/08/2016 11/08/16 Pending -- -- --
11/08/2016 11/08/16 For Sale $4,100,000 -- $426 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • John Thyne

    Seller's Agent in 2020

    John Thyne

    Goodwin & Thyne Properties

    (805) 899-1100

    4 in this area

    46 Total Sales

    John Thyne
    Section Image

  • N

    Buyer's Agent in 2020

    Non Member Agent

    Non Member Office

  • Kevin Goodwin

    Seller's Agent in 2016

    Kevin Goodwin

    Goodwin & Thyne Properties

    (805) 448-2200

    6 in this area

    53 Total Sales

    Kevin Goodwin
    Section Image
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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 18-3879

Santa Barbara Multiple Listing Service
California Santa Barbara County Santa Barbara 93101 Oak Park

410 W Micheltorena St, Santa Barbara, CA

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