Description
414 W Figueroa Street is a Spanish-style 10-unit multifamily property located near downtown Santa Barbara, offering an excellent unit mix of 3 x 3BD/2BA, 6 x 2BD/2BA, and 1 x 1BD/1BA, totaling approximately 10,505 SF of living space (average unit size 1,050 SF). Originally built in 1979, the property sits on a 24,211 SF R-MH (Residential Multi-Unit and Hotel) zoned parcel with a Medium Average Unit Density Overlay (27 Units / Acre) which could allow for a maximum density of 15 total units. Tenants enjoy mature landscaping, a large common laundry room and excellent onsite parking. Ground-floor units feature patios and yards while upper units include private balconies creating a unique indoor/outdoor living experience not typically found in this area. All units are separately metered.Seller financing now available with minimum 35% down, 5.5% interest-only payments, and 5-year maximum term. Price: $4,998,000 APN: 039-211-017 Units: 10 Units Unit Mix: 3 x 3BD/2BA; 6 x 2BD/2BA; 1 x 1BD/1BA Building Size: 10,505 SF (approx.) Land Size: 24,211 SF (approx.) Zoning: R-MH (Residential Multi Unit and Hotel) AUD Overlay: Medium Density (27 Units/acre) Year Built: 1979 (approx.) Parking: 20 spaces (9 carports, 10 uncovered, and one 294 SF one-car garage) Laundry: Onsite laundry room (approx. 175 SF) Cap Rate: Current: 4.09% Market: 5.86% GRM: Current: 15.18 Market: 11.77
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School Information
Description
414 W Figueroa Street is a Spanish-style 10-unit multifamily property located near downtown Santa Barbara, offering an excellent unit mix of 3 x 3BD/2BA, 6 x 2BD/2BA, and 1 x 1BD/1BA, totaling approximately 10,505 SF of living space (average unit size 1,050 SF). Originally built in 1979, the property sits on a 24,211 SF R-MH (Residential Multi-Unit and Hotel) zoned parcel with a Medium Average Unit Density Overlay (27 Units / Acre) which could allow for a maximum density of 15 total units. Tenants enjoy mature landscaping, a large common laundry room and excellent onsite parking. Ground-floor units feature patios and yards while upper units include private balconies creating a unique indoor/outdoor living experience not typically found in this area. All units are separately metered.Seller financing now available with minimum 35% down, 5.5% interest-only payments, and 5-year maximum term. Price: $4,998,000 APN: 039-211-017 Units: 10 Units Unit Mix: 3 x 3BD/2BA; 6 x 2BD/2BA; 1 x 1BD/1BA Building Size: 10,505 SF (approx.) Land Size: 24,211 SF (approx.) Zoning: R-MH (Residential Multi Unit and Hotel) AUD Overlay: Medium Density (27 Units/acre) Year Built: 1979 (approx.) Parking: 20 spaces (9 carports, 10 uncovered, and one 294 SF one-car garage) Laundry: Onsite laundry room (approx. 175 SF) Cap Rate: Current: 4.09% Market: 5.86% GRM: Current: 15.18 Market: 11.77
© 2023 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2023-12-10T10:47:29.78. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2023-12-10T10:47:29.78.