Description
CHARMING CALIFORNIA COTTAGE STYLE FOUR-UNIT INCOME PROPERTY JUST MINUTES AWAY FROM AMENITY RICH DOWNTOWN SANTA BARBARA. Beautifully renovated from the roof down, including all electrical and plumbing. Interior upgrades include kitchens, baths and hardwood floors with charming porches and open spaces to the front and rear of each unit. As current rents are under-market, this lovely, ever-evolving Eastside location offers great potential for additional rental income. Furthermore, the property is zoned as R-M (Residential Multi-Unit) which allows for multi-story, multi-unit development. 100% occupancy. 4 units. 2+1; 1+1+Loft; 3+1; 1+1 rear separate unit. All leases month to month. All Rents Up to Date. Easy to show with 24 hours notice. SLIDE SHOW: shorturl.at/mst38List Price: $2,195,000.00 Price Per Unit: $548,750.00 APN #: 031-042-003 Year Built: 1950 (Circa) Building Size: 2360 Total Lot Size: 11,325 Zoning: R-M Residential Multi-Unit Multi-Level Rents Per Unit: Unit #A: 2 bd 1 bath 630 sq ft $2400. Lease Month to month Unit #B: 1bed room 1 bath 560sq ft. $1650. Month to month Unit #C: 3 bedrooms 1 bath 630 sq. ft. $2500. Month to month Unit #D 1 bedroom 1 bath 540 sq. ft. $2250. Month to month Total Gross Monthly Rental Income: $8800.00 SCHEDULED GROSS TOTAL INCOME: 104,470.50 GRM: 21 (Market 17.55) NOI: $76,086.72 CAP RATE: 3.4%
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7BEDS
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0.26ACRES
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4BATHS
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01/2 BATHS
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2,360SQFT
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$953$/SQFT
School Information
Description
CHARMING CALIFORNIA COTTAGE STYLE FOUR-UNIT INCOME PROPERTY JUST MINUTES AWAY FROM AMENITY RICH DOWNTOWN SANTA BARBARA. Beautifully renovated from the roof down, including all electrical and plumbing. Interior upgrades include kitchens, baths and hardwood floors with charming porches and open spaces to the front and rear of each unit. As current rents are under-market, this lovely, ever-evolving Eastside location offers great potential for additional rental income. Furthermore, the property is zoned as R-M (Residential Multi-Unit) which allows for multi-story, multi-unit development. 100% occupancy. 4 units. 2+1; 1+1+Loft; 3+1; 1+1 rear separate unit. All leases month to month. All Rents Up to Date. Easy to show with 24 hours notice. SLIDE SHOW: shorturl.at/mst38List Price: $2,195,000.00 Price Per Unit: $548,750.00 APN #: 031-042-003 Year Built: 1950 (Circa) Building Size: 2360 Total Lot Size: 11,325 Zoning: R-M Residential Multi-Unit Multi-Level Rents Per Unit: Unit #A: 2 bd 1 bath 630 sq ft $2400. Lease Month to month Unit #B: 1bed room 1 bath 560sq ft. $1650. Month to month Unit #C: 3 bedrooms 1 bath 630 sq. ft. $2500. Month to month Unit #D 1 bedroom 1 bath 540 sq. ft. $2250. Month to month Total Gross Monthly Rental Income: $8800.00 SCHEDULED GROSS TOTAL INCOME: 104,470.50 GRM: 21 (Market 17.55) NOI: $76,086.72 CAP RATE: 3.4%
© 2021 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2021-07-31T17:46:51.547. 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 2021-07-31T17:46:51.547.