$4,000,000
$4,150,000
3.6%For more information regarding the value of a property, please contact us for a free consultation.
10,018 Sqft Lot
SOLD DATE : 04/17/2023
Key Details
Sold Price $4,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID V1-16221
Sold Date 04/17/23
HOA Y/N No
Year Built 1970
Lot Size 10,018 Sqft
Acres 0.23
Property Description
Great value-add opportunity to acquire 12-unit Goleta apartment building that is on the market for the first time in 45 years. Convenient location for tenants with easy access to UCSB, major tech employers, Camino Real Marketplace and Monarch Butterfly Grove. Features (11) 1BD/1BA apartments and (1) studio with a mix of carport and uncovered parking along with onsite laundry room. Building is all electric and has individual electric meters and individual water heaters. Recent improvements include all new asphalt driveway, sewer lateral repaired, section 1 pest spot treatment completed. Roof is 10 years old. Current rents below market. One unit to be left vacant through close of escrow. Major upside in rental income potential can be realized by a new owner through a modernization of interiors. 6.0% Cap Rate on market rents. Several property inspection reports available upon request.
Location
State CA
County Santa Barbara
Area Glta - Goleta
Rooms
Ensuite Laundry Laundry Room
Interior
Laundry Location Laundry Room
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Appliance Electric Range
Laundry Laundry Room
Exterior
Garage Uncovered
Fence None
Pool None
Community Features Biking
View Y/N No
View None
Parking Type Uncovered
Total Parking Spaces 13
Private Pool No
Building
Lot Description Sprinklers None
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 079552028
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Stephen Leider • Lee and Associates
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner