Janice Laney
Keller Williams Santa Barbara
(805) 865-7385
31 Total Sales
3 in Lower Riviera
$1.6M - $2.6M Price Range
515 E Arrellaga St Santa Barbara, CA 93103
Lower Riviera Neighborhood
--
Bed
--
Bath
--
Sq Ft
1969
Built
Highlights
- Property is near an ocean
- Property is near park, public transit, schools, shops, and bus stop
- Property is in excellent condition
- Santa Barbara Senior High School Rated A-
About This Home
As of September 2022THE SALE OF THIS PROPERTY IS PART OF A LARGER PORTFOLIO LISTED AT $12,190,000.
The Seller would prefer to sell as a portfolio, but would consider selling the properties individually.
The Portfolio offering represents an excellent investment opportunity with three unique multifamily properties totaling 17 units and approx. 18,879 SF with 515 E Arrellaga being the largest of the three multifamily assets.
Situated on Santa Barbara's Lower Riviera close to downtown, 515 E. Arrellaga St. is a beautiful 10- unit, 12,036 SF building with stunning ocean & mountain views (every deck has ocean views!) spanning downtown to East Beach. Built in 1969, this clean and well-maintained, low-maintenance property sits on A±0.33 acres of newly landscaped land and comprises eight (8) 960 SF 2BD/1.5BA and two (2) 2BD/2BA units
Two single level units are located at the front of the building, with eight townhouse units sitting above 10 covered parking spaces on the ground level in the back. All units boast a large deck/patio with low rooftop view. This property is zoned R-3 (multi-family residential) under the jurisdiction of the City of Santa Barbara.
This property has a potential for condo conversion.
The portfolio comprises of three listings. The following addresses are included and are listed at $12,190,000: 515 E Arrellaga (APN# 027-132-013) 1417 Bath Street (APN #039-052-013) and 1916-1920 Chino Street ( APN #043-122-022).
CALL TO OFFERS DATE IS MAY 25th, 2022.
All three listings will be open for showings on May 17th, 2022. This listing will be open 12:00 am-2:00 pm. ; 515 E Arrellaga at 10am-12:00 pm, and 1916-1920 Chino Street- 12:00-2:00 pm.
PLEASE DO NOT DISTURB THE OCCUPANTS
Last Agent to Sell the Property
Radius Group Commercial R.E. License #00772218 Listed on: 05/05/2022
Co-Listed By
Chris Parker
Radius Group Commercial R.E.
Last Buyer's Agent
Non Member Agent
Non Member Office
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1969
Parking
- 9 Open Parking Spaces
- 9 Parking Spaces
- 10 Carport Spaces
Location
- Property is near park, public transit, schools, shops, and bus stop
- Property near a hospital
Additional Features
- Property is near an ocean
- Property is in excellent condition
Listing and Financial Details
- Assessor Parcel Number 027-132-013
Community Details
Overview
- 10 Units
Building Details
- New Taxes Expense $69,749
- Operating Expense $137,522
- Gross Income $378,440
- Net Operating Income $233,349
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
May 5, 2022
Closed on
Sep 7, 2022
Sold by
Bought by
Seller's Agent
Steve Golis
Radius Group Commercial R.E.
Buyer's Agent
Non Member Agent
Non Member Office
List Price
$6,595,000
Sold Price
$6,595,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,000,000
Interest Rate
5.22%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 13, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.55%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 30, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.55%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 7, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.55%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Lower Riviera, CA
-
Janice Laney
-
Tiffany Dore
Tiffany Dore
Village Properties
(805) 324-6641
23 Total Sales
1 in Lower Riviera
$2,650,000 Price
-
Colleen Beall
Colleen Beall
Compass
(805) 243-1083
32 Total Sales
3 in Lower Riviera
$1.7M - $3.7M Price Range
-
Linda Parizo
Linda Parizo
Coldwell Banker Realty
(805) 918-8290
46 Total Sales
2 in Lower Riviera
$1,601,928 Price Range
-
Valerie Menke
Valerie Menke
Berkshire Hathaway HomeService
(805) 549-5997
24 Total Sales
2 in Lower Riviera
$2,128,000 Price Range
-
Chris Palme
Chris Palme
Sotheby's International Realty
(805) 262-8876
17 Total Sales
3 in Lower Riviera
$1.8M - $3.2M Price Range
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 |
|---|---|---|---|
| $6,595,000 | Fidelity National Title | ||
| -- | Chicago Title Company | ||
| -- | Chicago Title Company | ||
| -- | Chicago Title Company | ||
| -- | 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 | $3,000,000 | ||
| Previous Owner | $1,500,000 | ||
| Previous Owner | $1,500,000 | ||
| Previous Owner | $1,500,000 |
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 |
|---|---|---|---|---|
| 09/21/2022 09/21/22 | Sold | $6,595,000 | 0.0% | -- |
| 09/07/2022 09/07/22 | Off Market | $6,595,000 | -- | -- |
| 06/09/2022 06/09/22 | Pending | -- | -- | -- |
| 05/13/2022 05/13/22 | For Sale | $6,595,000 | -- | -- |
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 | $72,397 | $6,998,666 | $1,804,053 | $5,194,613 |
| 2025 | $72,397 | $6,861,438 | $1,768,680 | $5,092,758 |
| 2023 | $71,160 | $6,595,000 | $1,700,000 | $4,895,000 |
| 2022 | $39,095 | $3,678,049 | $1,674,089 | $2,003,960 |
| 2021 | $38,200 | $3,605,931 | $1,641,264 | $1,964,667 |
| 2020 | $37,807 | $3,568,957 | $1,624,435 | $1,944,522 |
| 2019 | $37,149 | $3,498,979 | $1,592,584 | $1,906,395 |
| 2018 | $36,624 | $3,430,372 | $1,561,357 | $1,869,015 |
| 2017 | $35,424 | $3,363,974 | $1,530,743 | $1,833,231 |
| 2016 | $34,334 | $3,284,289 | $1,500,729 | $1,783,560 |
| 2014 | $28,762 | $2,729,500 | $1,249,500 | $1,480,000 |
Source: Public Records
Agents Affiliated with this Home
-
Steve Golis
Seller's Agent in 2022
Steve Golis
Radius Group Commercial R.E.
(805) 879-9624
2 in this area
95 Total Sales
-
C
Seller Co-Listing Agent in 2022
Chris Parker
Radius Group Commercial R.E.
-
N
Buyer's Agent in 2022
Non Member Agent
Non Member Office
Map
Source: Santa Barbara Multiple Listing Service
MLS Number: 22-1425
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
This information is being provided for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that you may be interested in purchasing. Data relating to real estate for sale on this Website comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. All information is deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither the Santa Barbara Multiple Listing Service nor the listing broker(s) shall be responsible for any typographical errors, misinformation, or misprints.
Copyright 2026 Santa Barbara Multiple Listing Service. All rights reserved.
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