221 W Micheltorena Street, SANTA BARBARA, CA 93101 (MLS# 19-237)

221 W Micheltorena Street, SANTA BARBARA, CA 93101

$4,425,000

Aerial View of backside of 4-Plex and parking lot

Property Type: Res Inc Lot Size (sq. ft.): 16,988 Status: Closed

Current Price: $4,425,000 List Date: 3/08/2019 Last Modified: 9/15/2024

Overview

Description

Incredible opportunity to acquire a significant 10 unit showpiece asset in Downtown Santa Barbara. Close proximity to all Santa Barbara has to offer including State Street, Funk Zone, and Beaches. Every unit has the quintessential look and feel of early 1920's Santa Barbara construction. Original wood flooring refinished in rich walnut span the living area in all units. Every unit has a full size bathtub in the bathroom. 8 of the 10 units have a wood burning fireplace. Gorgeous, clean & renovated units along with ample off- street parking and a warm community feeling. This property has historically low turnover and stable market rents. Currently 16 total tenants on the property, all with 1-year CAR leases extending into mid 2020.

Listing Details MLS# 19-237

Location Info

District: 20 - SB/WEST OF STATE
Street #: 221
Dir: W
Street Name: Micheltorena
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Nbr: 039-061-006
Cross Street: De La Vina
Walk Score: 93

Contract Info

Price: 4500000
Buyers Agent $/%: 2.5
Begin Date: 2019-01-23

Status Information

Sold Date: 2019-12-05
Under Contract Date: 2019-08-19

Property Information

Number of Units: 10
Year Built: 1928
Apx # Acres: 0.39
Apx Lot SqFt: 16988
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 15 or 20 - Downtown

Remarks

Hot Sheet Comment: price

More Information

Owner Info

Deposit: 112500

Miscellaneous

Parking Spaces: 16
# Refrigerators: 10
# Stoves: 10

Unit 1

# Units: 2
# Bedrooms: 2
# Baths: Yes
Furnished: N
Rent: 2550
Monthly Total: 5100

Unit 2

# Units: 4
# Bedrooms: 2
# Baths: 2
Furnished: N
Rent: 2675
Monthly Total: 10700

Unit 3

# Units: 4
# Bedrooms: Yes
# Baths: Yes
Rent: 2050
Monthly Total: 7925

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes

Property Features

Unit 1: Lease Unit 2: Lease Unit 3: Lease Condition: Good Foundation: Raised Parking Info: Outside Proximity: Near Bus; Near Ocean; Near School(s); Near Shopping Laundry: Bldg Amenities: Fireplace; Gas Stove; Refrigerator; Cable TV Heating: Elec; Wall; Baseboard Pets: Yes Owner Provides: Water; Trash Zoning: R-4 Terms: Cash; Conventional Listing Type: ER

Documents

Preliminary Report ›

Marketing Sheet ›

Listing Office: Alpha Investment Management

Last Updated: September - 15 - 2024

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