NOT LISTED FOR SALE
6 Beds
6 Baths
3,190 Sq Ft
7,841 Sq Ft Lot

Sale Details

Date Sold: February 22, 2017

Last sale price $1,795,000 $563 Per Sq Ft

139 Days on Market

Highlights

  • Property is near an ocean
  • Santa Barbara Senior High School Rated A-
  • Property is near park, public transit, schools, shops, and bus stop

About This Home

As of February 2017

Well maintained 6 unit property located in ''Eucalyputs Hills'' at the entrance into Montecito. This building consists of two large 1BD/1BA units (one of which has fireplace) and four large studio units. Four units have been extensively updated over the past few years with new kitchens, bathrooms, appliances, paint, flooring and fixtures. This property offers an owner a turnkey investment opportunity with in place stable income with upside in the current rents. Property offers onsite parking for each of the units and a shared common outdoor BBQ area.

Last Agent to Sell the Property

Christos Celmayster

Hayes Commercial Group License #01342996 Listed on: 09/27/2016

Last Buyer's Agent

Francois DeJohn

Hayes Commercial Group License #01144570

Property Details

Home Type

  • Multi-Family

Lot Details

  • 7,841

Parking

  • 7 Open Parking Spaces
  • 7 Parking Spaces

Schools

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

Additional Features

  • 7,841 Sq Ft Lot
  • Property is near an ocean
  • Property is near park, public transit, schools, shops, and bus stop

Listing and Financial Details

  • The owner pays for trash collection, water, gas
  • Assessor Parcel Number 015-251-022

Community Details

Overview

  • 6 Units
  • 15 Eucalyptus Hill Subdivision

Building Details

  • Operating Expense $37,281
  • Gross Income $115,500
  • Net Operating Income $74,754

Property Details

Home Type

Multi-Family

Lot Details

7,841 Sq Ft Lot

Listing Details

  • Prop. Type: ResidentialIncome
  • Income Expenses Annual Income: 115500.0
  • Capitalization Rate: 4
  • Gross Rent Multiplier: 16.23
  • Annual Expenses: 37281.0
  • Monthly Expense: 3107.0
  • Monthly Income: 9625.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: No
  • Miscellaneous Parking Spaces: 7.0
  • ResoLotFeatures: Near Public Transit
  • Subdivision Name: 15 - Eucalyptus Hill
  • NeighborhoodSchools Elementary School: Cleveland
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Parking Info Uncovered: Yes
  • Parking Info Total # Unconvered Spaces: 7.0
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 7841.0
  • Proximity Near Bus: Yes
  • Income Expenses Actual: Yes
  • IncomeExpenses NOI2: 74754
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.18

Garage/Parking

  • Open Parking Spaces: 7.0
  • Parking Features: Uncovered
  • Total Parking Spaces: 7.0

Schools

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

Lot Info

  • Parcel #: 015-251-022
  • Zoning: R-2
  • Lot Size Sq Ft: 7841.0

Rental Info

  • Owner Pays: Trash Collection, Water, Gas

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 115500.0
  • Annual Operating Expense: 37281.0
  • Total Actual Rent: 9625.0
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/22/2017 02/22/17 Sold $1,795,000 -12.4% $563 / Sq Ft
02/13/2017 02/13/17 Pending -- -- --
09/27/2016 09/27/16 For Sale $2,050,000 -- $643 / Sq Ft
Source: Santa Barbara Multiple Listing Service

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 $21,807 $2,098,051 $1,160,584 $937,467
2023 $21,807 $2,016,932 $1,115,518 $901,414
2022 $21,376 $2,008,562 $1,093,646 $914,916
2021 $20,893 $1,969,963 $1,072,202 $897,761
2020 $20,683 $1,950,174 $1,061,208 $888,966
2019 $20,331 $1,912,720 $1,040,400 $872,320
2018 $20,052 $1,876,000 $1,020,000 $856,000
2017 $11,713 $1,109,055 $765,777 $343,278
2016 $11,462 $1,087,310 $750,762 $336,548
2015 $11,337 $1,070,978 $739,485 $331,493
2014 -- $644,742 $260,501 $384,241
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 16-3228

Santa Barbara Multiple Listing Service
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