Search Results For: 30 - Sb/gol South
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4320 Modoc Road, H, SANTA BARBARA, CA 93110

$5,200,000
Property Type: Res Inc Lot Size (sq. ft.): 70,785 Status: Closed
Current Price: $5,200,000 List Date: 5/12/2015 Last Modified: 4/18/2019

Description

Fantastic income property in Hope Ranch Annex area. First time on the market since constructed! Must-see property! 13 townhouses, all 2 story, 2Bed/1.5Bath, nearly 1,100 SF each. Private patios, newer kitchen appliances. 9 units have fireplaces. New roofs, front doors, & exterior lighting. Driveway resurfaced. Each unit has detached garage/carport w/ storage. Large 1.625 acre lot w/ excess land.

Supplements: All feature private patios with new vinyl fencing & newer kitchen appliances including dishwashers. Attractive floorplans; 9 have fireplaces. New roofs, all new front doors, new exterior lighting. Driveway recently resurfaced. Each unit has detached garage with storage. 17 off-street parking spaces. 8 units built in 1991; 5 units built in 1975. 4 units recently upgraded & getting over $2100/mo in rent. Separately metered for water, electric, & gas1. Large 1.625 acre lot which includes approx 1/3 acre of excess land. Current zoning is DR-8, but underlying comprehensive zoning is DR-12.3, which allows for 12.3 units per acre. Owner is working with County to upzone the parcel to DR-12.3. Lots of potential with this property. Check w/ your land use professional about the possibility of adding additional units, community room & facilities, or converting to condos. 1Units built in 1991 have gas. Units built in 1975 are all electric.

More Information MLS# 15-1556

Location Info

District: 30 - SB/GOL SOUTH Street #: 4320 Street Name: Modoc Street Suffix: Road Unit/Space #: H State/Province: CA Postal Code: 93110 Compass Map: Santa Barbara Map Grid: K11 County: Santa Barbara Parcel Number: 061-092-017 Cross Street: Hollister Ave

Contract Info

Current Price: $5,200,000 Price: 5499000 Buyers Agent $/%: 2 Begin Date: 2015-05-11 Status: Closed

Status Information

Sold Date: 2015-08-26 Sold Price: $5,200,000 Under Contract Date: 2015-06-26

Property Information

Number of Units: 13 Stories: 2 Year Built: 1991 Apx # Acres: 1.62 Apx Lot SqFt: 70785 Recurring Fees: No

Neighborhood/Schools

Neighborhood: 25 - Hope Ranch Elementary School: Vieja Valley Junior High School: Other High School: San Marcos

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 100000

Miscellaneous

Parking Spaces: 30

Unit 1

# Units: 13 # Bedrooms: 2 # Baths: 1 # Half Baths: 1 Furnished: N Rent: 2000 Monthly Total: 23792

Income/Expenses

Total Monthly Income: 23792 Annual Income: 309300 Gross Rent Multiplr: 17.8 Capitalization Rate: 3.53

Meters

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

Property Features

Condition: Excellent Foundation: Slab Parking Info: Garages; Uncovered Laundry: Laundry Room Amenities: Patio; Fireplace; Dishwasher; Microwave; Refrigerator Flr/Wdw Coverings: Carpet; Tile Heating/Cooling: GFA; Wall Owner Provides: Trash; Other Zoning: Other Reports Available: Other Exchange: No Terms: Cash; Ctnl Listing Type: ER Pub Listing Details: None
Listing Office: Battaglia Commercial Real Esta
Last Updated: April - 18 - 2019
4320 Modoc Road, H, SANTA BARBARA, CA 93110- MLS# 15-1556
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.

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