NOT LISTED FOR SALE

Goleta, CA 93117

Estimated Value: $4,383,000 - $7,326,000

19 Beds
15 Baths
7,525 Sq Ft
$802/Sq Ft Est. Value

Last Sold August 12, 2022

Last sale price $5,850,000 $777 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $38,445/month

21 Days on Market

Highlights

  • Beach Front
  • Property is near an ocean
  • Patio
  • Isla Vista Elementary School Rated A
  • Property is near a park
  • 1-minute walk to Camino Pescadero Park

About This Home

As of August 2022

This wonderful, extensively remodeled triplex is located on the ocean side of Del Playa Drive, which runs along Isla Vista's bluff top and remains the most sought after street for student housing in this UCSB adjacent community. Isla Vista is one of the country's most beautiful places to live, work and attend school, and this area of the community commands higher rents and is the first to lease up annually.

Leases are typically signed nine (9) months prior to expiration for the following school year. This triplex has (1) 5 bedroom/2 bathroom, (1) 6 bedroom/3 bathroom, and (1) 6 bedroom/4 bathroom. The units have multiple refrigerators, dishwashers, granite counters, stainless appliances, common laundry with 2 washers/2 dryers and an oversized patio to enjoy sweeping ocean views. Recent capital improvements include new plumbing and heating along with a roof system that is just 3 years old. The property has been reconfigured and sits approximately 30' from the cliff. There are also building plans that add 5 additional rooms over the parking lot! They were approved and the current seller decided not to proceed as tenants were in place. A new owner would just need to resubmit the plan for processing and permitting.

PLEASE DO NOT DISTURB THE OCCUPANTS.

Last Agent to Sell the Property

Steve Golis

Radius Group Commercial R.E. License #00772218 Listed on: 05/18/2022

Radius Group Commercial R.E.

Last Buyer's Agent

Francois DeJohn

Hayes Commercial Group License #01144570

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $66,809

Year Built

  • Built in 1968

Lot Details

  • 0.3 Acre Lot
  • Beach Front
  • Property is in good condition

Parking

  • Uncovered Parking

Interior Spaces

  • 7,525 Sq Ft Home
  • 2-Story Property

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Property is near an ocean
  • Patio

Location

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

Schools

  • Brandon Elementary School
  • Gol Valley Middle School
  • Dos Pueblos High School

Utilities

  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 075-202-046

Community Details

Overview

  • 3 Units
  • 30 University Village Subdivision

Amenities

  • Laundry Facilities

Building Details

  • New Taxes Expense $62,918
  • Net Operating Income $363

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$66,809

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1968
  • Capitalization Rate: 6.11%
  • Gross Rent Multiplier: 11.96
  • Building Stories: 2
  • ResoLaundryFeatures: Bldg
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 30 - University Village
  • New Construction: No
  • Reso Property Condition: Good
  • Property Information Year Built2: 1968
  • Property Information Apx # Acres: 0.3
  • NeighborhoodSchools Elementary School: Brandon
  • NeighborhoodSchools Junior High School: Gol Valley
  • NeighborhoodSchools High School: Dos Pueblos
  • Parking Info Uncovered: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Property Information Main House SqFt: 7525.0
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 13068.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • General Property Information Stories2: 2.0
  • Amenities Beach Front: Yes
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • Amenities Patio2: Yes
  • IncomeExpenses Taxes6: 62918.0
  • Laundry Bldg: Yes
  • IncomeExpenses NOI2: $363,511
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.3

Garage/Parking

  • Parking Features: Uncovered

Utilities

  • Heating: Other
  • HeatingYN: Yes

Schools

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

Lot Info

  • Parcel #: 075-202-046
  • Zoning: Other
  • Lot Size Sq Ft: 13068.0

Multi Family

  • Number Of Units Total: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 18, 2022
Closed on
Jul 5, 2022
Sold by
Aref Abedi M
Bought by
Cvc Del Playa Llc
Seller's Agent
Steve Golis
Radius Group Commercial R.E.
Buyer's Agent
Francois DeJohn
Hayes Commercial Group
List Price
$5,950,000
Sold Price
$5,850,000
Premium/Discount to List
-$100,000
-1.68%
Current Estimated Value
$6,034,096

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$184,096
Avg. Annual Appreciation
1.03%
Original Mortgage
$2,200,000
Outstanding Balance
$2,109,195
Interest Rate
5.7%
Mortgage Type
New Conventional
Estimated Equity
$3,924,901

Purchase Details

Closed on
Mar 11, 2020
Sold by
Abedi Suraya A
Bought by
Abedi M Aref

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,760,000
Interest Rate
3.4%
Mortgage Type
Commercial

Purchase Details

Closed on
May 7, 2019
Sold by
Security Eat 211 Inc
Bought by
Abedi M Aref

Purchase Details

Closed on
Jul 11, 2018
Sold by
Abedi M Aref
Bought by
Security Eat 211 Inc

Purchase Details

Listed on
Apr 30, 2014
Closed on
Oct 14, 2014
Sold by
Abedi Suraya
Bought by
Abedi M Aref
Seller's Agent
David Hekhouse
Village Properties
Buyer's Agent
Marty Styles
Equity Tree Realty
List Price
$3,568,000
Sold Price
$3,300,000
Premium/Discount to List
-$268,000
-7.51%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.72%

Purchase Details

Closed on
May 23, 2014
Sold by
Benenati Jesse Jay and Benenati Mary Kathryn
Bought by
Abedi M Aref

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,475,000
Interest Rate
4.08%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 28, 2012
Sold by
Benenati Jesse and Benenati Mary
Bought by
Benenati Jesse Jay and Benenati Mary Kathryn

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,350,000
Interest Rate
3.83%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 3, 2006
Sold by
Groner Stephen J
Bought by
Benenati Jesse and Benenati Mary

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,500,000
Interest Rate
6.29%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 14, 1999
Sold by
P Gold D
Bought by
Groner Stephen J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$715,000
Interest Rate
7.4%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Aug 22, 1997
Sold by
Liv Seymour Jason and Liv Marilyn F Wiener Revocable
Bought by
D P Gold Llc

Purchase Details

Closed on
Jul 11, 1995
Sold by
Lovgren Robert L and Lovgren Doreen J
Bought by
3 Little Ones

Purchase Details

Closed on
Jun 15, 1995
Sold by
Lovgren Robert L and Lovgren Doreen J
Bought by
3 Little Ones
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Cvc Del Playa Llc $5,850,000 First American Title
Abedi M Aref -- Priority Title Company
Abedi M Aref -- None Available
Security Eat 211 Inc -- None Available
Abedi M Aref -- Priority Title
Abedi M Aref $3,300,000 Priority Title
Benenati Jesse Jay -- Fidelity National Title
Benenati Jesse $3,700,000 First American Title Company
Groner Stephen J $1,000,000 First American Title
D P Gold Llc -- --
3 Little Ones -- --
3 Little Ones -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cvc Del Playa Llc $2,200,000
Previous Owner Abedi M Aref $2,760,000
Previous Owner Abedi M Aref $2,475,000
Previous Owner Benenati Jesse Jay $2,350,000
Previous Owner Benenati Jesse $2,500,000
Previous Owner Groner Stephen J $500,000
Previous Owner Groner Stephen J $385,000
Previous Owner Groner Stephen J $715,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/12/2022 08/12/22 Sold $5,850,000 0.0% $777 / Sq Ft
08/12/2022 08/12/22 Off Market $5,850,000 -- --
06/08/2022 06/08/22 Pending -- -- --
05/18/2022 05/18/22 For Sale $5,950,000 +80.3% $791 / Sq Ft
10/17/2014 10/17/14 Sold $3,300,000 -7.5% $717 / Sq Ft
05/23/2014 05/23/14 Pending -- -- --
04/30/2014 04/30/14 For Sale $3,568,000 -- $776 / 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 $66,809 $6,086,340 $3,121,200 $2,965,140
2023 $66,809 $5,850,000 $3,000,000 $2,850,000
2022 $34,958 $2,961,928 $1,099,683 $1,862,245
2021 $34,325 $2,903,881 $1,078,121 $1,825,760
2020 $33,443 $2,874,122 $1,067,067 $1,807,055
2019 $32,842 $2,817,797 $1,046,145 $1,771,652
2018 $32,288 $2,762,577 $1,025,633 $1,736,944
2017 $31,693 $2,708,439 $1,005,523 $1,702,916
2016 $31,148 $3,223,380 $1,015,250 $2,208,130
2015 $36,610 $3,175,000 $1,000,000 $2,175,000
2014 -- $3,465,651 $1,205,448 $2,260,203
Source: Public Records

Agents Affiliated with this Home

  • Steve Golis

    Seller's Agent in 2022

    Steve Golis

    Radius Group Commercial R.E.

    (805) 879-9624

    15 in this area

    93 Total Sales

    Steve Golis
    Section Image
  • Francois DeJohn

    Buyer's Agent in 2022

    Francois DeJohn

    Hayes Commercial Group

    (805) 895-1694

    4 in this area

    76 Total Sales

    Francois DeJohn
    Section Image

  • D

    Seller's Agent in 2014

    David Hekhouse

    Village Properties

    (805) 455-2113

    7 Total Sales

    David Hekhouse
    Section Image

  • J

    Seller Co-Listing Agent in 2014

    Jesse Benenati

    Village Properties

  • M

    Buyer's Agent in 2014

    Marty Styles

    Equity Tree Realty

See All Agents

Source: Santa Barbara Multiple Listing Service

MLS Number: 22-616

Santa Barbara Multiple Listing Service

APN: 075-202-046

California Santa Barbara County Goleta

93117

This home since 18 May 2022 and is currently estimated at $6,034,096, approximately $801 per square foot. This property was built in 1968. This home is a home located in Santa Barbara County with nearby schools including Isla Vista Elementary School, Goleta Valley Junior High School, and Dos Pueblos Senior High School.

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