104 - 106 Chapala St

    Santa Barbara, CA 93101
    • $3,650,000
    • STATUS: Closed
    • ON SITE: 132 days
    • MLS #: 18-2129
    Sold - 08/15/2018
    $3,650,000
    SOLD - 08/15/2018
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1905
    County:

    School Information

    Elementary School:
    Middle School:
    High School:
    Listing provided courtesy of Coldwell Banker Residential Brokerage.

    Description

    Located just one block from West Beach and La Entrada (new 5-Star Hotel Californian), minutes to the heart of Downtown Santa Barbara, the Funk Zone and within close proximity to Stearn's Warf and the Santa Barbara Harbor, the location of this highly sought after investment property is unbeatable! Featuring the charming architecture of the early 1900's, this property at 104 - 106 Chapala and 28 - 30 West Mason Street includes a 5 unit-apartment house, a duplex and a stand-alone bungalow. The total 8 units are comprised of a mix of 5 one-bedroom, one-bath units and 3 studio, one-bath units with excellent rents. Incorporated in some of the units are a small deck, a balcony, and peek a boo ocean views.6 of the 8 units have been extensively remodeled and furnished, making the units readily available for longer or shorter term rentals. This is an unparalleled investment opportunity! Location Description: 100 - 106 Chapala Street and 28 - 30 West Mason Street are situated just one block from West Beach and La Entrada (new, 5-Star Hotel Californian), minutes to the heart of Downtown Santa Barbara, the Funk Zone and within close proximity to Stearn's Warf and the Santa Barbara Harbor. The walk score for this property is 87 and the bike score is 99. La Entrada (de Santa Barbara) and the newly built 5-star Hotel Californian is also just one block away. This new development includes a luxury 5-star hotel and approximately 20,000 square feet of commercial space with open plazas, and gardens. Also included in the new development is a public parking structure, which includes 137 valet and 116 public parking spaces and 10,353 square feet of commercial space including a visitor center. Downtown Santa Barbara features world class shopping ranging from major retailers to unique boutique shops; some of the finest restaurants and cafes offering authentic cuisine from across the globe; cultural venues including art galleries, theaters, historic museums and historic architecture. This property is also located just blocks from the high energy, artist driven Funk Zone: a SoHo like neighborhood where wine makers, chefs and artists now have an official place to showcase their unique talents. As the rebirth of lower State Street life energy draws locals and tourists to this trending, burgeoning and thriving area, the demand for neighboring rental housing continues to progress.

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    © 2018 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2018-10-21T23:46:58.937. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2018-10-21T23:46:58.937.
    www.theziagroup.com/homes/84529183

    104 - 106 Chapala St Santa Barbara, CA 93101

    • Price: $3,675,000
    • Status: Closed
    • MLS #: 18-2129
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    1905
    Built
    Neighborhood:
    20 - West Beach
    County:
    Santa Barbara
    Area:
    SB/West of State
    Elementary School:
    Other
    Middle School:
    S.B. Jr.
    High School:
    S.B. Sr.
    Property Description
    Located just one block from West Beach and La Entrada (new 5-Star Hotel Californian), minutes to the heart of Downtown Santa Barbara, the Funk Zone and within close proximity to Stearn's Warf and the Santa Barbara Harbor, the location of this highly sought after investment property is unbeatable! Featuring the charming architecture of the early 1900's, this property at 104 - 106 Chapala and 28 - 30 West Mason Street includes a 5 unit-apartment house, a duplex and a stand-alone bungalow. The total 8 units are comprised of a mix of 5 one-bedroom, one-bath units and 3 studio, one-bath units with excellent rents. Incorporated in some of the units are a small deck, a balcony, and peek a boo ocean views.6 of the 8 units have been extensively remodeled and furnished, making the units readily available for longer or shorter term rentals. This is an unparalleled investment opportunity! Location Description: 100 - 106 Chapala Street and 28 - 30 West Mason Street are situated just one block from West Beach and La Entrada (new, 5-Star Hotel Californian), minutes to the heart of Downtown Santa Barbara, the Funk Zone and within close proximity to Stearn's Warf and the Santa Barbara Harbor. The walk score for this property is 87 and the bike score is 99. La Entrada (de Santa Barbara) and the newly built 5-star Hotel Californian is also just one block away. This new development includes a luxury 5-star hotel and approximately 20,000 square feet of commercial space with open plazas, and gardens. Also included in the new development is a public parking structure, which includes 137 valet and 116 public parking spaces and 10,353 square feet of commercial space including a visitor center. Downtown Santa Barbara features world class shopping ranging from major retailers to unique boutique shops; some of the finest restaurants and cafes offering authentic cuisine from across the globe; cultural venues including art galleries, theaters, historic museums and historic architecture. This property is also located just blocks from the high energy, artist driven Funk Zone: a SoHo like neighborhood where wine makers, chefs and artists now have an official place to showcase their unique talents. As the rebirth of lower State Street life energy draws locals and tourists to this trending, burgeoning and thriving area, the demand for neighboring rental housing continues to progress.
    Exterior Features

    Parking Information Street

    Interior Features

    Refrigerators 8.00 Unit1 Baths 1.00 Unit1 Bedrooms 0.00 Unit1 Half Baths 0.00 Unit2 Baths 1.00 Unit2 Bedrooms 1.00 Unit3 Baths 1.00 Unit3 Bedrooms 1.00

    Property Features

    Condition ExcellentGood Cross Street Mason Deposit 3.00 Income Expenses Annual Income 205504.00 Income Expenses Capitalization Rate 3.33% Income Expenses NOI $122401 Income Expenses Taxes 38588.00 Income Expenses Total Monthly Income 17655.00 Income Expenses Vacancy Factor 3% Meters Separate Meter Electric Yes Meters Separate Meter Gas Yes Meters Separate Meter Water No Proximity Near BusNear OceanNear Park(S)Near School(S)Near Shopping Reports Available Other Stoves 8.00 Terms Cash Unit1 Furnished Yes Unit1 Monthly Total 8595.00 Unit1 Rent 8595.00 Unit1 Units 4.00 Unit2 Furnished Yes Unit2 Monthly Total 4800.00 Unit2 Units 2.00 Unit3 Furnished No Unit3 Monthly Total 4100.00 Unit3 Units 2.00 Zoning R-4

    Listing information © 2018 Santa Barbara MLS
    Listing provided courtesy of Coldwell Banker Residential Brokerage.



    © 2018 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2018-10-21T23:46:58.937. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2018-10-21T23:46:58.937.
     
    The Zia Group
    1435 Anacapa Street
    Santa Barbara CA, 93101
    Listing provided courtesy of Coldwell Banker Residential Brokerage.