171 Nectarine Avenue, GOLETA, CA 93117
$2,500,000
Property Type:
Res Inc
Status:
Closed
Current Price:
$2,500,000
List Date:
3/05/2015
Last Modified:
4/18/2019
Description
Actual CAP Rate of 4.83% and 6.12% Proforma. This property has been under the same ownership for over 40 years.The property is well positioned, just off of Hollister Avenue, the main thoroughfare in Goleta. The property sits between Kellogg and Fairview Avenue.
The property is a single story complex that features cottage style units, laundry room, on site parking and good storage.
Supplements: Convenient to Highway 101, shopping, dining and many other businesses this property has always enjoyed long term tenants. Residents enjoy easy access to the public transportation as there are numerous MTD stops along Hollister Avenue. This is an ideal situation for an investor who is seeking a property with upside potential in the rents and the opportunity to own a property that has historically featured very low turnover and strong demand. The property is a Trust sale and is to be sold "As Is".
More Information MLS# 15-718
Location Info
District: 30 - SB/GOL SOUTH
Street #: 171
Street Name: Nectarine
Street Suffix: Avenue
State/Province: CA
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: G11
County: Santa Barbara
Parcel Number: 071-053-010
Cross Street: Hollister Avenue
Contract Info
Current Price: $2,500,000
Price: 2595000
Buyers Agent $/%: 2.5
Begin Date: 2015-03-05
Status: Closed
Status Information
Sold Date: 2015-09-03
Sold Price: $2,500,000
Under Contract Date: 2015-08-05
Property Information
Number of Units: 26
Year Built: 1930
Recurring Fees: No
Neighborhood/Schools
Elementary School: Other
Junior High School: Other
High School: Other
Remarks
Hot Sheet Comment: price
Owner Info
Deposit: 75000
Unit 1
# Units: 17
# Baths: 1
Furnished: N
Rent: 12025
Monthly Total: 12025
Unit 2
# Units: 5
# Bedrooms: 1
# Baths: 1
Monthly Total: 4550
Unit 3
# Units: 4
# Bedrooms: 2
# Baths: 1
Monthly Total: 3800
Income/Expenses
Total Monthly Income: 20375
Meters
Sep Meter Wtr: N
Sep Meter Elec: N
Sep Meter Gas: No
Property Features
Proximity: Near Bus; Near Park(s); Near School(s); Near Shopping
Laundry: Laundry Room
Zoning: Other
Terms: Cash; Ctnl
Listing Type: ER
Listing Office: Marcus and Millichap
Last Updated: April - 18 - 2019
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