Scott Williams Fine Homes

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822 Olive Street, SANTA BARBARA, CA 93101

$2,150,000
Property Type: Res Inc Status: Closed
Current Price: $2,150,000 List Date: 10/02/2018 Last Modified: 7/07/2021

Description

First time ever for sale. These red-tile roof, Spanish style homes and apartments were constructed for the present owner in 1979. All 2, 3 or 4 bedrooms, in excellent Roosevelt school, their mid-town location is less than 5 blocks from State Street/Paseo Nuevo. With two houses & a triplex, and off-street garages or carports, plus stone walls, large patios and fruit tree – they are charming. Can be purchased together w-duplex MLS #18- 3337 for 7 units total for $3.425M. In addition to the 4 newer Spanish units there is a 1920's 4 bed house with an incredibly rare unpainted clear heart redwood interior. Great to owner occupy either of the houses! Rents are low. See documents for Annual Property Operating Data – current and pro forma.

More Information MLS# 18-3342

Location Info

District: 15 - SB/EAST OF STATE Street #: 822 Street Name: Olive Street Suffix: Street State/Province: CA Postal Code: 93101 Compass Map: Santa Barbara Map Grid: P12 County: Santa Barbara Parcel Number: 031-031-039 Cross Street: E. Canon Perdido

Contract Info

Current Price: $2,150,000 Price: 2250000 Buyers Agent $/%: 2.5 Begin Date: 2018-09-11 Status: Closed

Status Information

Sold Date: 2019-02-20 Sold Price: $2,150,000 Under Contract Date: 2018-10-13

Property Information

Number of Units: 5 Stories: 2 Year Built: 1979 Recurring Fees: No

Neighborhood/Schools

Elementary School: Roosevelt Junior High School: S.B. Jr. High School: S.B. Sr.

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

Miscellaneous

Parking Spaces: 6 # Refrigerators: 5 # Stoves: 5

Unit 1

# Units: 1 # Bedrooms: 4 # Baths: 1 Furnished: N Rent: 2600 Monthly Total: 2600

Unit 2

# Units: 1 # Bedrooms: 2 # Baths: 1 Rent: 2500 Monthly Total: 2500

Unit 3

# Units: 1 # Bedrooms: 2 # Baths: 1 Rent: 1900 Monthly Total: 1900

Unit 4

# Units: 2 # Bedrooms: 3 # Baths: 1 # Half Baths: 1 Rent: 2225 Monthly Total: 4425

Income/Expenses

Total Monthly Income: 11425 Annual Income: 137100 Gross Rent Multiplr: 16.4 Vac Factor: 3030 Taxes: 23850 Insurance: 3800 Water Expense: 2400 Electric Expense: 350 Maintenance Expense: 8756 Total Annual Exp: 44506 NOI: 92594 Cash Flow: 8087

Meters

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

Parking Info

Total # Carport Spaces: 3 Total # Garage Spaces: 3

Property Features

Income/Expenses: Actual Condition: Good Foundation: Slab; Raised Parking Info: Garages; Carport; Gar #3; Cpt #3 Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near Shopping Laundry: In Unit; Laundry Room Amenities: Gas Stove; Washer; Dryer; Refrigerator; Cable TV; Fncd Back; Fncd Prt Flr/Wdw Coverings: Carpet; Wood/Laminate; Vinyl Heating/Cooling: Elec; Wall Pets: Yes Owner Provides: Water; Trash Zoning: R-4 Reports Available: Pest Inspection Terms: Cash; Ctnl Listing Type: ER; EA Pub Listing Details: Estate Sale
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: July - 07 - 2021
822 Olive Street, SANTA BARBARA, CA 93101- MLS# 18-3342
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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