NOT LISTED FOR SALE

507 W Ocean Ave Lompoc, CA 93436

-- Bed
-- Bath
-- Sq Ft
0.32 Acre Lot

Sale Details

Date Sold: January 28, 2022

Last sale price $1,220,000

67 Days on Market

About This Home

As of January 2022

Bread and butter units in south Lompoc. The property features 6 well-maintained, single story, 2Bed/1Bath units in 2 buildings. Dual pane windows and tile flooring throughout. Units are separately metered for electricity and gas. 10 uncovered parking spaces at rear of property. Most tenants are long term, and all rental agreements are month to month.

Last Agent to Sell the Property

Steve Battaglia

Battaglia Commercial Real Esta License #01318215 Listed on: 11/10/2021

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Lot Details

  • 13,939 Sq Ft Lot
  • Property is in average condition

Home Design

  • Slab Foundation

Interior Spaces

  • 1-Story Property

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces

Utilities

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

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 091-073-018

Community Details

Overview

  • 6 Units

Building Details

  • Operating Expense $29,492
  • Gross Income $93,600
  • Net Operating Income $61,300

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0.32 Acres

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1952
  • Income Expenses Annual Income: 93600.0
  • Capitalization Rate: 5.0
  • Gross Rent Multiplier: 13.1
  • Annual Expenses: 29492.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 10.0
  • Building Stories: 1
  • ResoLaundryFeatures: None
  • New Construction: No
  • Reso Property Condition: Average
  • Property Information Year Built2: 1952
  • Property Information Apx # Acres: 0.32
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • HeatingCooling Wall3: Yes
  • Parking Info Uncovered: Yes
  • Parking Info Total # Unconvered Spaces: 10.0
  • Foundation:Slab: Yes
  • General Property Information Stories2: 1.0
  • Condition Average2: Yes
  • IncomeExpenses NOI2: 61300
  • HeatingCooling AC None2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Exterior Features

  • Acres: 0.32
  • Foundation Details: Slab

Garage/Parking

  • Open Parking Spaces: 10.0
  • Parking Features: Uncovered
  • Total Parking Spaces: 10.0

Schools

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

Lot Info

  • Parcel #: 091-073-018
  • Zoning: R-3
  • Lot Size Sq Ft: 13939.2
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Trash Collection, Water

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 93600.0
  • Annual Operating Expense: 29492.0

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
Nov 10, 2021
Closed on
Dec 6, 2021
Sold by
Bought by
Seller's Agent
Steve Battaglia
Battaglia Commercial Real Esta
Buyer's Agent
Non Member Agent
Non Member Office
List Price
$1,225,000
Sold Price
$1,220,000
Premium/Discount to List
-$5,000
-0.41%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$915,000
Interest Rate
0.0322%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 31, 2006
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
$1,220,000 First American Title
$575,000 Chicago Title Company
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
Previous Owner $915,000
Previous Owner $300,000
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
01/28/2022 01/28/22 Sold $1,220,000 -0.4% --
11/15/2021 11/15/21 Pending -- -- --
09/09/2021 09/09/21 For Sale $1,225,000 -- --
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 $14,867 $1,320,566 $270,608 $1,049,958
2025 $14,063 $1,294,673 $265,302 $1,029,371
2023 $14,063 $1,244,400 $255,000 $989,400
2022 $8,431 $740,447 $309,055 $431,392
2021 $8,525 $725,930 $302,996 $422,934
2020 $8,434 $718,488 $299,890 $418,598
2019 $8,296 $704,401 $294,010 $410,391
2018 $8,169 $690,591 $288,246 $402,345
2017 $8,020 $677,051 $282,595 $394,456
2016 $7,876 $663,776 $277,054 $386,722
2014 $7,709 $641,001 $267,548 $373,453
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 21-3408

Santa Barbara Multiple Listing Service
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