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$ 4,950,000
Est. payment | /mo
0.25 Acres Lot
$ 4,950,000
Est. payment | /mo
0.25 Acres Lot
Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Subdivision 30 - Ellwood/Santa Barbara Shores
MLS Listing ID 26-3412
Year Built 1970
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 10890.0
Source Santa Barbara Multiple Listing Service
Property Description
Well-located 14-unit apartment building, priced to sell! Situated at the very end of Ellwood Beach Drive, by the open space preserve and trails to the beach. The est. cap rate is ~5.8% on existing rents, GRM is 11.63. All units are 1-bed/1-bath averaging a spacious 665sf. These apartments are always in demand with major employment centers within 1-2 miles, including dozens of nearby high-salary engineering and software companies, UC Santa Barbara, Bacara Resort and Deckers' world headquarters. Tenants are also drawn to the location due to its access to nature next door and proximity to the beach and Girsh Park, as well as to all retail services and restaurant types at the nearby Camino Real Marketplace and adjacent shopping centers. See unbranded Offering Memorandum in Documents.
Location
State CA
County Santa Barbara
Community 30 - Ellwood/Santa Barbara Shores
Interior
Heating Wall Furnace
Laundry Laundry Room
Exterior
Parking Features Outside, Carport
Building
Lot Description Near Public Transit
Foundation Slab
New Construction No
Others
Tax ID 079-551-023
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Listed by Berkshire Hathaway HomeServices California Properties
Schools and Properties Nearby
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