NOT LISTED FOR SALE

Estimated Value: $1,907,176

5 Beds
3 Baths
2,163 Sq Ft
$882/Sq Ft Est. Value

Sale Details

Date Sold: December 10, 2021

Last sale price $1,600,000 $740 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $12,410 / mo

7 Days on Market

Highlights

  • Property is near an ocean
  • Solar Heating System
  • 5 Car Garage
  • Property is near park, public transit, schools, shops, and bus stop
  • Forced Air Heating System
  • Carpet

About This Home

As of December 2021

Looking to add Student Housing to your portfolio? Look no further. The first time on the market in 30 years, this 5 Bedroom, 3 Bathroom home was custom built by a local SB businessman for the purpose of student housing. With over 2000 square feet, this home was designed and customized around group living with extra large bedrooms, vaulted ceilings, jack and jill style bathrooms and a large great room style living area perfect for entertaining. Built in 1991 and meticulously maintained and managed, this low maintenance investment property has been generating cash flow for 30 years and counting. Centrally located in the heart of Isla Vista, 2 blocks from the Beach and a few minutes from UCSB and the Camino Real Marketplace, it's no wonder why this property is rarely vacant.

Last Agent to Sell the Property

Abel Ramos

Compass License #01821789 Listed on: 11/01/2021

Compass

Last Buyer's Agent

Abel Ramos

Compass License #01821789 Listed on: 11/01/2021

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1991

Lot Details

  • 4,791 Sq Ft Lot
  • Property is in average condition

Home Design

  • Slab Foundation

Interior Spaces

  • 2,163 Sq Ft Home
  • 2-Story Property

Kitchen

  • Stove
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Vinyl

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Parking

  • 5 Car Garage
  • 5 Open Parking Spaces

Location

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

Schools

  • Isla Vista Elementary School
  • Gol Valley Middle School
  • Dos Pueblos High School

Additional Features

  • Solar Heating System
  • Property is near an ocean
  • Forced Air Heating System

Listing and Financial Details

  • The owner pays for trash collection, water, gas, electricity, heat
  • Assessor Parcel Number 075-142-040

Community Details

Pet Policy

  • No Pets Allowed

Building Details

  • Electric Expense $168
  • Fuel Expense $73
  • Insurance Expense $167
  • Trash Expense $388
  • Water Sewer Expense $250
  • New Taxes Expense $590
  • Operating Expense $27,185
  • Gross Income $84,000
  • Net Operating Income $55,125

Property Details

Home Type

Multi-Family

Year Built

Built in 1991

Lot Details

4,791 Sq Ft Lot

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1991
  • Income Expenses Annual Income: 84000.0
  • Capitalization Rate: 3.68
  • Income Expenses Electric Expense: 167.74
  • Income Expenses Gas Expense: 73.0
  • Gross Rent Multiplier: 18.22
  • Annual Expenses: 27184.8
  • Monthly Expense: 2265.4
  • Monthly Income: 7000.0
  • Income Expenses Trash Expense: 388.0
  • Income Expenses Water Expense: 250.0
  • Miscellaneous Parking Spaces: 5.0
  • Building Stories: 2
  • ResoLaundryFeatures: In Unit
  • ResoLotFeatures: Near Public Transit
  • Reso Flooring: Vinyl, Carpet
  • Garage Yn: Yes
  • New Construction: No
  • Reso Property Condition: Average
  • Property Information Year Built2: 1991
  • Property Information Apx # Acres: 0.11
  • NeighborhoodSchools Elementary School: Isla Vista
  • NeighborhoodSchools Junior High School: Gol Valley
  • NeighborhoodSchools High School: Dos Pueblos
  • Condo:Laundry in Unit: Yes
  • Parking Info Uncovered: Yes
  • Parking Info Total # Unconvered Spaces: 5.0
  • Foundation:Slab: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Property Information Main House SqFt: 2163.0
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 4791.0
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • Proximity Near Hospital2: Yes
  • General Property Information Stories2: 2.0
  • Pets No8: Yes
  • Parking Info Garages: Yes
  • Amenities Gas Stove2: Yes
  • Amenities Dishwasher2: Yes
  • Amenities Disposal2: Yes
  • Amenities Microwave2: Yes
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • HeatingCooling GFA: Yes
  • Condition Average2: Yes
  • IncomeExpenses Taxes6: 589.79
  • Parking Info Gar #14: Yes
  • FlrWdw Coverings Vinyl2: Yes
  • Income Expenses Actual: Yes
  • HeatingCooling Solar3: Yes
  • IncomeExpenses NOI2: 55125.20
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.11
  • Foundation Details: Slab

Garage/Parking

  • Open Parking Spaces: 5.0
  • Parking Features: Garages, Uncovered, Gar #1
  • Total Parking Spaces: 5.0

Utilities

  • Heating: Solar, GFA
  • HeatingYN: Yes

Fee Information

  • Annual Fuel Expense: 73.0
  • Trash Expense: 388.0
  • Annual Water Sewer Expense: 250.0

Schools

  • Elementary School: Isla Vista
  • High School: Dos Pueblos
  • Middle Or Junior School: Gol Valley

Lot Info

  • Parcel #: 075-142-040
  • Zoning: R-1
  • Lot Size Sq Ft: 4791.0

Rental Info

  • Owner Pays: Trash Collection, Water, Gas, Electricity, Heat

Multi Family

  • Number Of Units Total: 1
  • Electric Expense: 167.74
  • Annual Gross Income: 84000.0
  • Insurance Expense: 166.67
  • Annual Operating Expense: 27184.8
  • Total Actual Rent: 7000.0

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
12/10/2021 12/10/21 Sold $1,600,000 +6.7% $740 / Sq Ft
11/08/2021 11/08/21 Pending -- -- --
11/01/2021 11/01/21 For Sale $1,500,000 -- $693 / Sq Ft
Source: Santa Barbara Multiple Listing Service

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 21-4018

Santa Barbara Multiple Listing Service

APN: 075-142-040

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