NOT LISTED FOR SALE

Estimated Value: $5,331,716

Studio
-- Bath
-- Sq Ft
0.26 Acres

Last Sold April 30, 2014

Last sale price $2,920,000

Est. 83% increase in value since last sale

Current estimated payment $31,862/month

16 Days on Market

Highlights

  • 0.26 Acre Lot
  • Property is near park, public transit, shops, and bus stop
  • 3-minute walk to Plaza Vera Cruz
  • Washington Elementary School Rated A

About This Home

As of April 2014

A 17 unit motel with 1 manager's unit, the entire building is currently leased through January 10, 2015 @ $15,435 per month, plus utility allowance of $2,100 per month. Great location one-half block from State Street in the heart of downtown Santa Barbara.

Last Agent to Sell the Property

Emmet Hawkes

Hawkes & Company Realtors License #00286416 Listed on: 01/10/2014

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.26 Acre Lot
  • Property is in good condition

Parking

  • Carport
  • Uncovered Parking

Location

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

Schools

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

Community Details

  • 18 Units

Listing and Financial Details

  • Assessor Parcel Number 037-212-034

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1986
  • Monthly Income: 15435.0
  • Meters Sep Meter Elec: N
  • Meters Sep Meter Gas: No
  • Meters Sep Meter Wtr: N
  • ResoLotFeatures: Near Public Transit
  • New Construction: No
  • Reso Property Condition: Good
  • Property Information Year Built2: 1986
  • NeighborhoodSchools Elementary School: Franklin
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Parking Info Carport2: Yes
  • Parking Info Uncovered: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 11326.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.26

Garage/Parking

  • Parking Features: Carport, Uncovered

Schools

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

Lot Info

  • Parcel #: 037-212-034
  • Zoning: C-M
  • Lot Size Sq Ft: 11326.0

Multi Family

  • Number Of Units Total: 18
  • Total Actual Rent: 15435.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 10, 2014
Closed on
Apr 23, 2014
Sold by
Sanchez Louis and Sanchez Leonila
Bought by
Haley Hospitality Llc
Seller's Agent
Emmet Hawkes
Hawkes & Company Realtors
Buyer's Agent
Non Member Agent
Non Member Office
List Price
$2,750,000
Sold Price
$2,920,000
Premium/Discount to List
$170,000
6.18%
Current Estimated Value
$5,331,716

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,411,716
Avg. Annual Appreciation
5.27%
Original Mortgage
$1,500,000
Outstanding Balance
$1,137,698
Interest Rate
4.28%
Mortgage Type
Commercial
Estimated Equity
$4,194,018

Purchase Details

Closed on
Nov 24, 2009
Sold by
The Acorn Fund Llc
Bought by
Sanchez Louis and Sanchez Leonila

Purchase Details

Closed on
Jun 21, 2007
Sold by
Sanchez Louis and Sanchez Leonila A
Bought by
The Acorn Fund Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,900,000
Interest Rate
6.21%
Mortgage Type
Seller Take Back
Source: Public Records
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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
Haley Hospitality Llc $2,920,000 First American Title Company
Sanchez Louis $1,200,000 Servicelink
The Acorn Fund Llc $1,900,000 Fidelity National Title Co
Sanchez Louis -- Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Haley Hospitality Llc $1,500,000
Previous Owner The Acorn Fund Llc $1,900,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/30/2014 04/30/14 Sold $2,920,000 +6.2% --
01/26/2014 01/26/14 Pending -- -- --
01/10/2014 01/10/14 For Sale $2,750,000 -- --
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 $47,799 $4,145,319 $3,042,586 $1,102,733
2023 $47,799 $4,060,767 $2,924,440 $1,136,327
2022 $42,216 $3,972,321 $2,867,099 $1,105,222
2021 $41,372 $3,905,992 $2,810,882 $1,095,110
2020 $41,404 $3,909,159 $2,782,060 $1,127,099
2019 $41,036 $3,865,793 $2,727,510 $1,138,283
2018 $13,189 $3,747,576 $2,674,030 $1,073,546
2017 $32,768 $3,111,433 $2,621,599 $489,834
2016 $18,281 $1,742,193 $1,472,052 $270,141
2014 $17,793 $1,683,344 $1,421,539 $261,805
Source: Public Records

Agents Affiliated with this Home

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Source: Santa Barbara Multiple Listing Service

MLS Number: 14-78

Santa Barbara Multiple Listing Service

APN: 037-212-034