NOT LISTED FOR SALE

518 Chapala St Santa Barbara, CA 93101

Downtown Santa Barbara Neighborhood

Estimated Value: $1,757,000 - $2,391,000

4 Beds
4 Baths
-- Sq Ft
3,049 Sq Ft Lot

Sale Details

Date Sold: September 13, 2016

Last sale price $1,250,000

Est. 66% increase in value since last sale

Current estimated payment $12,794 / mo

11 Days on Market

Highlights

  • Property is near an ocean
  • Property is near park, public transit, schools, shops, and bus stop
  • Wood Flooring
  • San Marcos Senior High School Rated A-

About This Home

As of September 2016

4 Unit legal non conforming apartment building in downtown Santa Barbara. Currently rented at
$6500/month. Has high ceilings wood floors.
Each unit is between 575-680 SF. Current Tenants all want to stay. Walk to everything Santa Barbara has to offer.

Please drive by and make and offer subject to inspection. Tenants do not know that the property is for sale.

No off street parking.

Last Agent to Sell the Property

Roberta McGinnis

Gowing Properties License #00628934 Listed on: 05/19/2016

Last Buyer's Agent

Andrew 'Andy' Adler

Century 21 Masters License #01162080

Century 21 Masters

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1918

Lot Details

  • 3,049 Sq Ft Lot
  • Back Yard Fenced
  • Property is in average condition

Parking

  • On-Street Parking

Home Design

  • Raised Foundation

Location

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

Schools

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

Utilities

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

Additional Features

  • Dishwasher
  • Wood Flooring
  • Property is near an ocean

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 037-171-010

Community Details

Overview

  • 4 Units
  • 15 Or 20 Downtown Subdivision

Pet Policy

  • Pets Allowed

Building Details

  • Electric Expense $20
  • Fuel Expense $30
  • Water Sewer Expense $260
  • New Taxes Expense $1
  • Operating Expense $3,720
  • Gross Income $78,000
  • Net Operating Income $74,280

Property Details

Home Type

Multi-Family

Year Built

Built in 1918

Lot Details

3,049 Sq Ft Lot

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1918
  • Income Expenses Annual Income: 78000.0
  • Capitalization Rate: 4.9%
  • Income Expenses Electric Expense: 20.0
  • Income Expenses Gas Expense: 30.0
  • Annual Expenses: 3720.0
  • Income Expenses Water Expense: 260.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • ResoLaundryFeatures: Other
  • ResoLotFeatures: Near Public Transit
  • ResoSecurityFeatures: Smoke Detector(s)
  • Subdivision Name: 15 or 20 - Downtown
  • Reso Flooring: Hardwood
  • New Construction: No
  • Reso Property Condition: Average
  • Property Information Year Built2: 1918
  • NeighborhoodSchools Elementary School: Franklin
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • HeatingCooling Wall3: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Security Smoke Detector(s)2: Yes
  • FlrWdw Coverings Hardwood2: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 3049.2
  • Proximity Near Bus: Yes
  • Proximity Near Hospital2: Yes
  • Pets Yes: Yes
  • Amenities Dishwasher2: Yes
  • Amenities Fncd Back: Yes
  • Condition Average2: Yes
  • Foundation Raised2: Yes
  • Assessor's Data Assessor Lot Acres: 0.07
  • IncomeExpenses Taxes6: 1.12
  • IncomeExpenses NOI2: 74280
  • Parking Info Street Only3: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.07
  • Foundation Details: Raised

Garage/Parking

  • Parking Features: Street Only

Fee Information

  • Annual Fuel Expense: 30.0
  • Annual Water Sewer Expense: 260.0

Schools

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

Lot Info

  • Parcel #: 037-171-010
  • Zoning: C-2
  • Lot Size Sq Ft: 3049.2

Rental Info

  • Owner Pays: Trash Collection, Water

Multi Family

  • Number Of Units Total: 4
  • Electric Expense: 20.0
  • Annual Gross Income: 78000.0
  • Annual Operating Expense: 3720.0

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
May 19, 2016
Closed on
Aug 30, 2016
Sold by
Mcginnis Michael and Gowing David
Bought by
Seller's Agent
Roberta McGinnis
Gowing Properties
Buyer's Agent
Andrew 'Andy' Adler
Century 21 Masters
List Price
$1,495,000
Sold Price
$1,250,000
Premium/Discount to List
-$245,000
-16.39%
Current Estimated Value
$2,077,473

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$827,473
Avg. Annual Appreciation
5.34%
Original Mortgage
$687,500
Interest Rate
3.48%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 15, 2013
Sold by
Mcginnis Roverta
Bought by
Mcginnis Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$708,000
Interest Rate
3.51%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 1, 2003
Sold by
Stinchfield Michael and Stinchfield Audrey
Bought by
Stinchfield Mike and Stinchfield Audrey

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$605,000
Interest Rate
2.75%

Purchase Details

Closed on
Apr 25, 2003
Sold by
Stinchfield Michael and Stinchfield Audrey
Bought by
Stinchfield Michael and Stinchfield Audrey

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$605,000
Interest Rate
2.75%

Purchase Details

Closed on
Jan 17, 2003
Sold by
Stinchfield Michael and Stinchfield Audrey
Bought by
Stinchfield Mike and Stinchfield Audrey

Purchase Details

Closed on
Jul 10, 2001
Sold by
Jarrott Leonard G and Jarrott Viola M
Bought by
Stinchfield Michael and Stinchfield Audrey

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
7.99%
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Agents Specializing in Downtown Santa Barbara, CA

  • Colleen Beall Real Estate Agent - Compass

    Colleen Beall

    Compass

    (805) 243-1083

    31 Total Sales

    1 in Downtown Santa Barbara

    $1,860,000 Price

    Colleen Beall
     Section Image
  • Susan Pate Real Estate Agent - Compass

    Susan Pate

    Compass

    (805) 617-1044

    10 Total Sales

    1 in Downtown Santa Barbara

    $2,050,000 Price

    Susan Pate
     Section Image
  • Gary Goldberg Real Estate Agent - Coastal Properties

    Gary Goldberg

    Responds Quickly

    Coastal Properties

    (805) 617-1575

    92 Total Sales

    3 in Downtown Santa Barbara

    $1,091,000 Price Range

    Gary Goldberg
     Section Image

  • MW

    Mary Whitney

    Responds Quickly

    Berkshire Hathaway HomeServices California Properties

    (888) 617-2371

    9 Total Sales

    1 in Downtown Santa Barbara

    $1,860,000 Price

    Mary Whitney
     Section Image
  • Nicklas Svensson Real Estate Agent - Compass

    Nicklas Svensson

    Compass

    (805) 401-0343

    10 Total Sales

    2 in Downtown Santa Barbara

    $1.2M - $2.1M Price Range

    Nicklas Svensson
     Section Image
  • Kendrick Guehr Real Estate Agent - Berkshire Hathaway HomeServices California Properties

    Kendrick Guehr

    Berkshire Hathaway HomeServices California Properties

    (805) 618-1469

    98 Total Sales

    6 in Downtown Santa Barbara

    $995K - $2M Price Range

    Kendrick Guehr
     Section Image
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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
$1,250,000 Fidelity National Title Co
Mcginnis Michael -- Fidelity National Title Co
Mcginnis Michael $944,000 First American Title Company
Stinchfield Mike -- --
Stinchfield Michael -- First American Title Co
Stinchfield Mike -- --
Stinchfield Michael $725,000 Lawyers 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
Open $1,176,825
Closed Nonnie Investments Llc $800,000
Closed Nonnie Investments Llc $687,500
Previous Owner Mcginnis Michael $708,000
Previous Owner Stinchfield Michael $700,000
Previous Owner Stinchfield Michael $605,000
Previous Owner Stinchfield Michael $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
09/13/2016 09/13/16 Sold $1,250,000 -16.4% --
05/30/2016 05/30/16 Pending -- -- --
05/19/2016 05/19/16 For Sale $1,495,000 -- --
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 $16,644 $1,479,742 $591,897 $887,845
2025 $16,381 $1,450,729 $580,292 $870,437
2023 $16,381 $1,394,397 $557,759 $836,638
2022 $14,552 $1,367,057 $546,823 $820,234
2021 $14,217 $1,340,252 $536,101 $804,151
2020 $14,071 $1,326,510 $530,604 $795,906
2019 $13,826 $1,300,500 $520,200 $780,300
2018 $13,630 $1,275,000 $510,000 $765,000
2017 $13,180 $1,250,000 $500,000 $750,000
2016 $10,352 $981,981 $357,840 $624,141
2014 $10,071 $948,285 $345,561 $602,724
Source: Public Records

Agents Affiliated with this Home

  • Roberta McGinnis Real Estate Agent - Gowing Properties

    Seller's Agent in 2016

    Roberta McGinnis

    Gowing Properties

    (805) 680-6921

    6 Total Sales

    Roberta McGinnis
    Section Image
  • Andrew 'Andy' Adler Real Estate Agent - Century 21 Masters

    Buyer's Agent in 2016

    Andrew 'Andy' Adler

    Century 21 Masters

    (805) 722-2640

    1 in this area

    19 Total Sales

    Andrew 'Andy' Adler
    Section Image
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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 16-1708

Santa Barbara Multiple Listing Service

APN: 037-171-010

California Santa Barbara County Santa Barbara 93101 Downtown Santa Barbara

518 Chapala St, Santa Barbara, CA

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