$4,790,000
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0.41 Acres Lot
SOLD DATE : 11/26/2024
Key Details
Sold Price $4,790,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID V1-23995
Sold Date 11/26/24
HOA Y/N No
Year Built 1964
Lot Size 0.410 Acres
Property Description
Enjoy the benefits of a short-term typical investor return for the area, while working to realize significant long-term upside (5%-6%+ cap rate) which may be attainable for this central Santa Barbara multi-family asset. The location is a few blocks to Cottage Hospital, and within 1-2 miles of several other major employment centers and the signature Santa Barbara amenities of downtown restaurants/retail, the Theater/Arts district, the waterfront/beaches, and Santa Barbara City College. Along with close proximity to freeway access and artery streets allowing tenants ease-of-access, these factors combine to generate unmatched tenant demand. Recent upgrades include a brand-new roof and sewer lateral improvements. See Offering Memorandum in Documents.
Location
State CA
County Santa Barbara
Area Vc81 - Santa Barbara
Interior
Heating Floor Furnace
Cooling None
Fireplaces Type None
Fireplace No
Appliance Gas Cooktop, Gas Oven, Refrigerator
Laundry Common Area
Exterior
Parking Features Assigned, Asphalt
Fence None
Pool None
Community Features Curbs
View Y/N Yes
View Mountain(s)
Roof Type Composition
Total Parking Spaces 16
Private Pool No
Building
Lot Description Sprinklers None
Story Two
Entry Level Two
Foundation Slab
Water Public
Architectural Style Contemporary
Level or Stories Two
Others
Senior Community No
Tax ID 043132013
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Seller Financing
Special Listing Condition Real Estate Owned
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Bought with Non Member • Unknown Agency
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25101 The Old Road Suite 240, Ranch, Ca, 91381, United States