NOT LISTED FOR SALE

Estimated Value: $1,884,000 - $2,569,628

6 Beds
3 Baths
3,228 Sq Ft
$680/Sq Ft Est. Value

Last Sold May 18, 2020

Last sale price $1,325,000 $410 Per Sq Ft

Est. 66% increase in value since last sale

Current estimated payment $13,422/month

109 Days on Market

Highlights

  • Property is near a park
  • Wood Flooring
  • Forced Air Heating System
  • San Marcos Senior High School Rated A
  • Fireplace
  • 5 Car Garage

About This Home

As of May 2020

This well-located house + duplex (3 units total) offers an investor proximity to good employment centers for tenants (i.e. Cottage Hospital), along with easy access for active tenants to downtown Santa Barbara and the area's many amenities. The front house from the 1920's has period finishes and hardwood floors, its den has a closet and is used as a 3rd bedroom. The back duplex was built in 1980, each unit is a large 2-BR/1-BA, plus a 2-car garage. This is an ideal property for a starter investor, or as an alternative for an owner-occupant in the front home to build wealth much faster by adding the paid-for rental duplex. Rents and financial metrics shown are actual and are not reflective of market rents, see Offering Memorandum under Documents for market and pro-forma projections.

Last Agent to Sell the Property

Ken Switzer

Berkshire Hathaway HomeServices California Properties License #01245644 Listed on: 10/26/2019

Berkshire Hathaway HomeServices California Properties

Last Buyer's Agent

Austin Jones

Sotheby's International Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,541

Year Built

  • Built in 1925

Lot Details

  • 7,405 Sq Ft Lot
  • Back Yard Fenced
  • Property is in good condition

Parking

  • 5 Car Garage

Home Design

  • Raised Foundation
  • Slab Foundation

Interior Spaces

  • 3,228 Sq Ft Home
  • Fireplace

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl Plank

Laundry

  • Dryer
  • Washer

Location

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

Schools

  • Harding Elementary School
  • Lacumbre Middle School
  • San Marcos High School

Utilities

  • Forced Air Heating System
  • Individual Gas Meter

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 043-131-006

Community Details

Overview

  • 3 Units
  • 20 Westside Subdivision

Building Details

  • Electric Expense $500
  • Fuel Expense $300
  • Insurance Expense $1,500
  • Maintenance Expense $5,000
  • Water Sewer Expense $2,500
  • New Taxes Expense $15,500
  • Operating Expense $29,400
  • Gross Income $68,640
  • Net Operating Income $39,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,541

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1925
  • Income Expenses Annual Income: 68640.0
  • Capitalization Rate: 2.7
  • Income Expenses Electric Expense: 500.0
  • Income Expenses Gas Expense: 300.0
  • Gross Rent Multiplier: 21.1
  • Maintenance Expense: 5000.0
  • Annual Expenses: 29400.0
  • Monthly Expense: 2450.0
  • Monthly Income: 5720.0
  • Income Expenses Water Expense: 2500.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 5.0
  • ResoLaundryFeatures: Other
  • ResoLotFeatures: Near Public Transit
  • Income And Expenses Maintenance Expense: 5000.0
  • Subdivision Name: 20 - Westside
  • Reso Flooring: Carpet, Hardwood, Tile, Wood/Laminate
  • Garage Yn: Yes
  • New Construction: No
  • Reso Property Condition: Good, Average
  • Property Information Year Built2: 1925
  • NeighborhoodSchools Elementary School: Harding
  • NeighborhoodSchools Junior High School: LaCumbre
  • NeighborhoodSchools High School: San Marcos
  • Foundation:Slab: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • FlrWdw Coverings Hardwood2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Property Information Main House SqFt: 3228.0
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 7405.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • FlrWdw Coverings WoodLaminate2: Yes
  • Proximity Near Hospital2: Yes
  • Parking Info Gar #24: Yes
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • Amenities Fncd Back: Yes
  • HeatingCooling GFA: Yes
  • Condition Average2: Yes
  • Foundation Raised2: Yes
  • IncomeExpenses Taxes6: 15500.0
  • Amenities Fncd Prt: Yes
  • IncomeExpenses NOI2: 39200
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.17
  • Foundation Details: Slab, Raised

Garage/Parking

  • Parking Features: Gar #2
  • Total Parking Spaces: 5.0

Utilities

  • Heating: GFA
  • HeatingYN: Yes

Association/Amenities

  • Fireplace: Yes

Fee Information

  • Annual Fuel Expense: 300.0
  • Annual Water Sewer Expense: 2500.0

Schools

  • Elementary School: Harding
  • High School: San Marcos
  • Middle Or Junior School: LaCumbre

Lot Info

  • Parcel #: 043-131-006
  • Zoning: R-3
  • Lot Size Sq Ft: 7405.0

Rental Info

  • Owner Pays: Other, Trash Collection, Water

Multi Family

  • Number Of Units Total: 3
  • Electric Expense: 500.0
  • Annual Gross Income: 68640.0
  • Insurance Expense: 1500.0
  • Annual Operating Expense: 29400.0
  • Total Actual Rent: 5720.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 24, 2023
Sold by
Coastal Harmony Llc
Bought by
Coastal Harmony Llc
Current Estimated Value
$2,195,157

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
6.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 2, 2022
Sold by
Ross Orion
Bought by
Coastal Harmony Llc

Purchase Details

Listed on
Oct 26, 2019
Closed on
Apr 7, 2020
Sold by
Kavanagh Colin and Kavanagh Marianne
Bought by
Ross Orion
Seller's Agent
Ken Switzer
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Austin Jones
Sotheby's International Realty
List Price
$1,450,000
Sold Price
$1,325,000
Premium/Discount to List
-$125,000
-8.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.24%
Original Mortgage
$1,325,000
Interest Rate
3.3%
Mortgage Type
VA

Purchase Details

Closed on
Apr 8, 2019
Sold by
Rouzer David and Williams Alexandra B
Bought by
Rouzer David A and Williams Alexandra B

Purchase Details

Closed on
Mar 13, 2019
Sold by
Williams Alexandra B
Bought by
Rouzer David A

Purchase Details

Closed on
Apr 4, 2016
Sold by
Rouzer David and Williams Alexandra
Bought by
The Rouzer Living Trust and William Alexandra B

Purchase Details

Closed on
May 3, 2013
Sold by
Kavanagh Colin T and De Carvalho Kavanagh Marianne Gina
Bought by
Kavanagh Colin and Kavanagh Marianne

Purchase Details

Closed on
Dec 28, 1999
Sold by
Rouzer David Anthony
Bought by
Rouzer David Anthony and William Alexandra B
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Coastal Harmony Llc -- First American Title
Coastal Harmony Llc -- None Listed On Document
Ross Orion $1,325,000 Fidelity National Title Co
Rouzer David A -- None Available
Rouzer David A -- None Available
The Rouzer Living Trust -- None Available
Kavanagh Colin -- None Available
Rouzer David Anthony -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Coastal Harmony Llc $700,000
Closed Coastal Harmony Llc $462,500
Closed Coastal Harmony Llc $825,000
Closed Coastal Harmony Llc $350,000
Previous Owner Coastal Harmony Llc $380,000
Previous Owner Ross Orion $1,500,000
Previous Owner Ross Orion $1,325,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/18/2020 05/18/20 Sold $1,325,000 -8.6% $410 / Sq Ft
02/11/2020 02/11/20 Pending -- -- --
10/25/2019 10/25/19 For Sale $1,450,000 -- $449 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

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 $17,541 $1,688,370 $656,186 $1,032,184
2024 $17,541 $1,655,266 $643,320 $1,011,946
2023 $17,541 $1,622,810 $630,706 $992,104
2022 $15,766 $1,481,501 $618,340 $863,161
2021 $14,370 $1,354,727 $606,216 $748,511
2020 $5,872 $551,292 $201,262 $350,030
2019 $5,770 $540,483 $197,316 $343,167
2018 $5,688 $529,887 $193,448 $336,439
2017 $5,500 $519,498 $189,655 $329,843
2016 $5,432 $509,313 $185,937 $323,376
2015 $5,373 $501,664 $183,145 $318,519
2014 $5,286 $491,838 $179,558 $312,280
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 19-3677

Santa Barbara Multiple Listing Service

APN: 043-131-006