$3,150,000
$3,250,000
3.1%For more information regarding the value of a property, please contact us for a free consultation.
12,939 SqFt
SOLD DATE : 03/25/2024
Key Details
Sold Price $3,150,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 12,939 sqft
Price per Sqft $243
Subdivision Orcutt East(870)
MLS Listing ID PI23223115
Sold Date 03/25/24
HOA Y/N No
Year Built 1985
Lot Size 1.870 Acres
Acres 1.87
Property Description
This well-maintained 10-unit townhouse complex is a perfect investment for an investor looking for an asset in a prime location.
The property features spacious 2-bedroom apartment homes averaging over 1,200 SF, each with their own private patio
and garage. The complex was recently tented and had extensive facia work, exterior painting and roof work completed. Additionally,
new roll-up garage doors, many new ranges and water heaters were installed, as well as the parking area resurfaced.
All units are separately metered for water, gas and electric, helping to keep owner expenses low. Rents are well below market. Market rents equate to a 5.53% Cap Rate.
Location
State CA
County Santa Barbara
Area Orct - Orcutt
Rooms
Ensuite Laundry Electric Dryer Hookup, Gas Dryer Hookup
Interior
Laundry Location Electric Dryer Hookup,Gas Dryer Hookup
Heating Forced Air
Fireplaces Type Living Room
Fireplace Yes
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Suburban
Total Parking Spaces 10
Private Pool No
Building
Lot Description Irregular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 103500057
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Steven Golis • Radius Group Commercial RE
"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