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$ 1,399,000
Est. payment | /mo
871 Sqft Lot
$ 1,399,000
Est. payment | /mo
871 Sqft Lot
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26-3178
Year Built 1964
Lot Size 871 Sqft
Acres 0.02
Lot Dimensions 871.2
Source Santa Barbara Multiple Listing Service
Property Description
Breathtaking Ocean Views Just Steps to The Sand! This bright and open 2-bedroom, 1-bath unit offers the best of coastal living, complete with a remodeled bath, recessed lighting, newer appliances, ample storage, and a private balcony with expansive ocean views. Ideal for enjoying morning coffee and sunset relaxation.
Currently with an Active Short-Term Rental Permit (no waitlist for new S/T permit in this property zone), this property represents a rare income-generating oceanfront opportunity and an ideal candidate for a 1031 Exchange. With a strong average daily rate (ADR) of $616/night, unit #302 generated $91,751 in gross revenue over the trailing 12 months at a conservative 40.8% occupancy rate due to personal owner use. Casago pro forma puts ave rental at 50%-66% and $120k-$172k/y T.I.C. - Fully financeable, undivided 1/36 interest. Please call Annette Vait with any questions and for more information.
Currently with an Active Short-Term Rental Permit (no waitlist for new S/T permit in this property zone), this property represents a rare income-generating oceanfront opportunity and an ideal candidate for a 1031 Exchange. With a strong average daily rate (ADR) of $616/night, unit #302 generated $91,751 in gross revenue over the trailing 12 months at a conservative 40.8% occupancy rate due to personal owner use. Casago pro forma puts ave rental at 50%-66% and $120k-$172k/y T.I.C. - Fully financeable, undivided 1/36 interest. Please call Annette Vait with any questions and for more information.
Location
State CA
County Santa Barbara
Interior
Cooling Ceiling Fan(s)
Others
Tax ID 003-830-026
Acceptable Financing OTHER/CLA
Listing Terms OTHER/CLA
Listed by Berkshire Hathaway HomeServices California Properties
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