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2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
Price Reduction! | Now Offered at $1,995,000
3.16.17
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
property brief
Units ▶ 6 Total: (3) 1BR+1BA Units; 3 Studios
Price/Unit ▶ $332,500
Building Size ▶ ±2,529 SF
Lot Size ▶ ±7,296 SF
Price/SF Land ▶ $273/SF
APN ▶ 039–052–016
Zoning ▶ R-4
Year Built ▶ 1923
Parking ▶ Off Street Lot Parking
Floors ▶ 2
Great opportunity to acquire downtown boutique apartment building. Property has many upgrades making it easy to maintain while keeping costs down. Features include interior/exterior paint, copper plumbing throughout, new vinyl flooring, recessed LED lighting with dimmer switches, extensive refinishing of original wood sash windows, tile counters, Kohler Lavatories, stainless sinks, Price Pfister faucets/ fixtures, new wood blinds/doors, new energy saving appliances, common laundry area, lush landscaping and off street parking. Back unit features private deck; front units overlook mountains. Just 3 blocks from State Street with abundance of shops and restaurants. Close proximity to Arlington Theater, Ralph’s, Alameda Park, Starbucks, Santa Barbara Public Market, EF International Language Center, City College, public transit and easy 101 freeway access.
Price Reduction! Now Offered at$1 ,9 95 ,0 0 0
4.15% CAP | 15.66 GRM | $82,871 NOI | $332,500/Unit
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
Sola St.
Bath St.
De La Vina St.
location
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
Arrella
ga St.
Michelt
orena S
t.
Sola St.
Victoria
St.
Anapam
u St.
Figueroa S
t.
Bath St.
Castillo St.
Hwy. 101
Chapala St.
De La Vina St.
State St. Anacapa St.
1407 Bath St.
1 EF International Language Center
2 South Coast Deli
3 Southern California Institute of Law
4 CVS Pharmacy
5 The Arlington Theatre
6 Crushcakes Cafe
7 Public Transit Center
8 ELS Language Centers
9 Spencer Adams Park
10 Santa Barbara Public Market
11 White Jasmine Inn
12 Corepower Yoga
13 Santa Barbara Museum of Art
14 Granada Theatre
15 The Upham B&B
16 Soho Restaurant & Music Club
17 Starbuck’s
18 Chase Bank
19 Ralph’s
20 Los Arroyos Mexican Restaurant
21 The Hungry Cat
22 Santa Barbara Public Library
23 Ensemble Theatre Company
11
8
6
4
7
5
4
3
2
1
9
13
14
12
1516
19
23
2021
2217
18
10
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
property photos
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
income analysis
CalculationsCurrent Level
EOI: $127,420 $132,888
Annual Exp.: $44,549 $44,692
NOI: $82,871 $88,196
GRM: 15.66 15.01
CAP Rate: 4.15% 4.42%
Annual ExpensesCurrent Current % GOI Market % GOI Market
Real Estate Taxes: 1.05% $20,948 16.4% 15.8% $20,948Advertising: Act.. $0 0.0% 0.0% $0
Insurance: Act.. $2,500 2.0% 1.9% $2,500Utilities: Act.. $7,200 5.7% 5.4% $7,200
Electric Included above Included aboveWater/Sewer Included above Included above
Trash Included above Included aboveGas Included above Included above
Maint/Repairs: Est. $500/Unit $3,000 2.4% 2.3% $3,000Grounds: Est. $600 0.5% 0.5% $600
Off-site Management: 5% $6,501 5.1% 5.0% $6,644On-site Management: Est. $0 0.0% 0.0% $0
Pest Control: Est. $1,000 0.0% 0.0% $1,000Legal & Accounting: Est. $1,000 0.0% 0.0% $1,000
Reserves: Est. $300/Unit $1,800 1.4% 1.4% $1,800Annual Expenses Per Unit $7,091 $7,115
Annual Expenses $42,549 33.4% 32.1% $42,692
Unit Mix & Rent SchedulesCurrent Rent Market Rent
# Units Mix Est. SF Rent/Unit Monthly Income Rent/Unit Monthly Income1 Studio 300 $1,295 $1,295 $1,500 $1,5001 Studio 350 $1,395 $1,395 $1,500 $1,5001 Studio 425 $1,450 $1,450 $1,500 $1,5001 1/1 650 $1,900 $1,900 $1,900 $1,9001 1/1 600 $2,050 $2,050 $2,000 $2,0001 1/1 450 $1,495 $1,495 $1,650 $1,650
RUBS $600 RUBS $600Garage $500 $500 Garage $500
Monthly Rental Income + RUBS: $10,685 $11,150Month Laundry Income: $150 $150
Potential Gross Monthly Income: $10,835 $11,300Potential Gross Annual Income: $130,020 $135,600
Less: Vacancy & Collection Loss: 2% $2,600 % Rent Upside $2,712Effective Gross Economic Income: $127,420 4.3% $132,888
Executive Summary# Units: 6
Price: $1,995,000
Price/Unit: $332,500
NOI: $82,871
GRM: 15.66
CAP Rate: 4.15%
Approx. Lot Size: 7,296 SF
Price/Lot SF: $273/SF
Building Size: 2,529 SF
Zoning: R-4
APN: 039-052-016
Est. Year Built: 1923
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
comparable properties sold
Property Address Date of Sale Sale Price No. of Units Unit Mix $ Per Unit Acutal CAP Rate
1407 Bath St., Santa Barbara Subject Property $1,995,000 6 (3) 1BD/1BA; (3) Studios $332,500 4.15
411 E. Micheltorena St., Santa Barbara 10/21/16 $2,295,000 6 (4) 1BD/1BA; (2) 2BD/1BA $382,500 3.72
823 E. De La Guerra St., Santa Barbara 4/28/16 $1,696,500 6 (4) 1BD/1BA; (2) 2BD/1.5BA $282,750 4.04
232 W. Yanonali St., Santa Barbara 1/29/16 $2,500,000 6 (4) 1BD/1BA; (2) 2BD/1BA $416,667 3.64
1826 Loma St., Santa Barbara 6/10/16 $2,325,000 5 (4) 1BD/1BA; (1) 4BD/2BA $465,000 4.10
310 Ladera St., Santa Barbara 5/26/16 $1,875,000 6 (5) 2BD/1BA; (1) Studio $312,500
3445 Richland Dr., Santa Barbara 7/6/16 $2,350,000 8 (6) 1BD/1BA; (2) 2BD/2BA $293,750 3.90
2
34
56
1
2
3
4
5
6
7
9
81
1407 bath st.
The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m
for sale � 6-unit boutique apartment building1 4 07 bat h st. | sa n ta ba r ba r a , c a 93 1 0 1
Steve [email protected] Lic. 00772218
Lori [email protected] Lic. 01914851
Nate [email protected] Lic. 02011627
3.16.17
Property Address Date of Sale Sale Price No. of Units Unit Mix $ Per Unit Acutal CAP Rate
1407 Bath St., Santa Barbara Subject Property $1,995,000 6 (3) 1BD/1BA; (3) Studios $332,500 4.15%
20 W. Valerio St., Santa Barbara 5/17/16 $2,700,000 8 $337,500
806 Nopal St., Santa Barbara 7/27/16 $2,050,000 8 (4) 2BD/1BA; (4) 1BD/1BA $256,250
229 W. Quinto St., Santa Barbara 9/21/16 $1,985,000 5 (1) 2BD/1BA; (4) 1BD/1BA $397,000
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8
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9
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6
7
9
81
1407 bath st.
comparable properties sold
