528 W Los Olivos Street, SANTA BARBARA, CA 93105
$7,800,000
Property Type:
Res Inc
Status:
Closed
Current Price:
$7,800,000
List Date:
5/22/2019
Last Modified:
8/01/2019
Description
Excellent investment opportunity to acquire a well located mid size Santa Barbara apartment complex with major rental upside potential. 528 West Los Olivos Street consists of (28) 1 bed/1 bath units located within blocks of Cottage Hospital and Oak Park. This property has been in the same family for more than 35 years and currently generates $40,862 in monthly income. The units are approximately 520 SF and are spread out over 4 buildings with each unit having one off-street parking space. There are an additional 10 off-street parking spaces along with a laundry room on the 37,683 SF lot. Upstairs units have vaulted ceilings and many of the downstairs units have enclosed patios.Offers are due May 31. Property tour May 29th from 11AM -1PM.
More Information MLS# 19-1807
Location Info
District: 20 - SB/WEST OF STATE
Street #: 528
Dir: W
Street Name: Los Olivos
Street Suffix: Street
State/Province: CA
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 025-160-017
Cross Street: Pueblo
Contract Info
Current Price: $7,800,000
Price: 7995000
Financing: CTEL
Buyers Agent $/%: 2
Begin Date: 2019-05-22
Status: Closed
Status Information
Sold Date: 2019-08-01
Sold Price: $7,800,000
Under Contract Date: 2019-06-05
Property Information
Number of Units: 28
Year Built: 1972
Recurring Fees: No
Neighborhood/Schools
Elementary School: Other
Junior High School: Other
High School: Other
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 2
Unit 1
# Units: 28
# Bedrooms: 1
# Baths: 1
Furnished: N
Rent: 1445
Monthly Total: 40450
Property Features
Zoning: Other
Terms: Ctnl
Listing Type: ER
Listing Office: Beachside Partners
Last Updated: August - 01 - 2019
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