NOT LISTED FOR SALE

970 E Carrillo Rd Santa Barbara, CA 93103

Lower Riviera Neighborhood

Estimated Value: $1,914,000 - $3,281,612

Studio
-- Bath
-- Sq Ft
0.27 Acres

Last Sold February 22, 2019

Last sale price $1,840,000

Est. 53% increase in value since last sale

Current estimated payment $16,451/month

195 Days on Market

Highlights

  • Property is near an ocean
  • Property is near public transit, schools, shops, and bus stop
  • Wood Flooring
  • Franklin Elementary School Rated A-

About This Home

As of February 2019

Rock solid four unit investment property at the base of the Santa Barbara Riviera.
Never before on the market, this exceptionally well built and well maintained property was originally constructed by the current owner in the early 1970's. Consisting of two large two unit buildings on a large, approximately 12,000sqft lot, with 7 off-street parking spaces (4 covered spaces, each with storage, as well as 3 uncovered spaces), this trophy property is the epitome of a mid-sized buy-and-hold property here in Santa Barbara.
Built from concrete block, roofed with Spanish tile, and floored predominantly in tile, terrazzo and natural stone, the first thing that comes to mind when viewing the property is durability. Classic sandstone walls adorn the northern portion of the lot and give it an old world feel. Once inside, the large, two story units have a decidedly mid-century modern aesthetic. All in a wonderful, in-town location near the Santa Barbara County Bowl.
Don't miss this opportunity to be the next long term owner of this legacy investment property.

Last Agent to Sell the Property

James Krautmann

Village Properties License #01468842 Listed on: 07/17/2018

Last Buyer's Agent

Ken Switzer

Berkshire Hathaway HomeServices California Properties License #01245644

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 0.27 Acre Lot
  • Property is in good condition

Home Design

  • Slab Foundation

Interior Spaces

  • 2-Story Property
  • Stove

Flooring

  • Wood
  • Stone
  • Tile

Laundry

  • Laundry in unit
  • Washer

Parking

  • 7 Parking Spaces
  • 4 Carport Spaces
  • 3 Open Parking Spaces

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

  • Property is near an ocean
  • Property is near public transit, schools, shops, and bus stop

Community Details

  • 4 Units
  • 15 Riviera/Lower Subdivision

Listing and Financial Details

  • The owner pays for water
  • Assessor Parcel Number 029-316-019

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1972
  • Capitalization Rate: 4.0
  • Monthly Income: 9025.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 7.0
  • Building Stories: 2
  • ResoLaundryFeatures: In Unit, Some
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 15 - Riviera/Lower
  • Carport Y N: Yes
  • Reso Flooring: Hardwood, Other, Stone, Tile
  • New Construction: No
  • Reso Property Condition: Good
  • Property Information Year Built2: 1972
  • NeighborhoodSchools Elementary School: Franklin
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Condo:Laundry in Unit: Yes
  • HeatingCooling Wall3: Yes
  • Parking Info Total # Carport Spaces2: 4.0
  • Parking Info Total # Unconvered Spaces: 3.0
  • Foundation:Slab: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near School(s)2: Yes
  • FlrWdw Coverings Hardwood2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Proximity Near Shopping2: Yes
  • FlrWdw Coverings Stone2: Yes
  • Property Information Apx Lot SqFt: 11761.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • General Property Information Stories2: 2.0
  • Amenities Gas Stove2: Yes
  • Amenities Washer2: Yes
  • Parking Info Cpt #43: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.27
  • Foundation Details: Slab

Garage/Parking

  • Open Parking Spaces: 3.0
  • Open Parking: Yes
  • Parking Features: Cpt #4, Unc #3
  • Total Parking Spaces: 7.0

Schools

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

Lot Info

  • Parcel #: 029-316-019
  • Zoning: R-2
  • Lot Size Sq Ft: 11761.0

Rental Info

  • Owner Pays: Water

Multi Family

  • Number Of Units Total: 4
  • Total Actual Rent: 9025.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 17, 2018
Closed on
Apr 9, 2019
Sold by
Tai Christopher C and Lewis Syndey A
Bought by
970 Ecr Llc
Seller's Agent
James Krautmann
Village Properties
Buyer's Agent
Ken Switzer
Berkshire Hathaway HomeServices California Properties
List Price
$2,100,000
Sold Price
$1,840,000
Premium/Discount to List
-$260,000
-12.38%
Current Estimated Value
$2,807,403

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$967,403
Avg. Annual Appreciation
6.32%

Purchase Details

Listed on
Jul 17, 2018
Closed on
Feb 20, 2019
Sold by
Oswald J Daros Inc
Bought by
Tai Christopher C and Lewis Sydney A
Seller's Agent
James Krautmann
Village Properties
Buyer's Agent
Ken Switzer
Berkshire Hathaway HomeServices California Properties
List Price
$2,100,000
Sold Price
$1,840,000
Premium/Discount to List
-$260,000
-12.38%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
970 Ecr Llc -- None Available
Tai Christopher C $1,840,000 Fidelity National Title Co
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/22/2019 02/22/19 Sold $1,840,000 -12.4% --
01/28/2019 01/28/19 Pending -- -- --
07/17/2018 07/17/18 For Sale $2,100,000 -- --
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 $21,257 $2,046,973 $864,525 $1,182,448
2023 $21,257 $1,972,850 $830,955 $1,141,895
2022 $20,569 $1,934,167 $814,662 $1,119,505
2021 $20,098 $1,896,243 $798,689 $1,097,554
2020 $19,891 $1,876,800 $790,500 $1,086,300
2019 $2,160 $199,960 $57,117 $142,843
2018 $2,129 $196,041 $55,998 $140,043
2017 $2,059 $192,198 $54,900 $137,298
2016 $2,092 $188,430 $53,824 $134,606
2014 $2,037 $181,966 $51,978 $129,988
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2019

    James Krautmann

    Village Properties

    (805) 451-4527

    29 Total Sales

    James Krautmann
    Section Image

  • K

    Buyer's Agent in 2019

    Ken Switzer

    Berkshire Hathaway HomeServices California Properties

    (805) 680-4622

    4 in this area

    104 Total Sales

    Ken Switzer
    Section Image
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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 18-2591

Santa Barbara Multiple Listing Service

APN: 029-316-019

California Santa Barbara County Santa Barbara 93103 Lower Riviera

970 E Carrillo Rd, Santa Barbara, CA

Not Listed for Sale

MultiFamily

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