622 & 630 E Victoria Portefeuille de immeuble residentiel à vendre 2 biens 5 178 654 € Santa Barbara, CA

Hayes Commercial Group is pleased to present a rare opportunity to acquire 16 units in two contiguous and well-maintained 8-unit multifamily prop¬erties located at 622 & 630 E Victoria Street, at the base of Santa Barbara’s Lower Rivieria neighborhood. The property’s ideal location provides proximity to shopping, restaurants, downtown, multiple parks, and the Santa Barbara Bowl. This number of units in a loca¬tion of this quality seldom comes available.
Both buildings are two-story, garden-style walk-ups that provide an excellent unit mix of 4 X 2BD/1BA units and 12 X 1BD/1BA units. Each building offers large and func¬tional layouts, on-site laundry rooms, good on-site parking and a communal front yard. There are four ground-floor units, two at each property, that enjoy an enclosed outdoor patio.
The properties have been well-maintained by the seller, with several updates to most units. Current rents are approximately 30- 44% below market after an owner makes further updates. Please call listing agent for more information and a link to property documents including: Financials, building plans, General Building Inspection, SB721 Inspection, Pest Inspection, Roof Inspection, and Sewer Lateral Inspection.
INVESTMENT DETAILS
Price $5,850,000
Price Per Unit $365,625
Cap Rate 4.23% (current) 4.79% (AB 1482) 6.56% (market)
GRM 14.51 (current) 13.35 (AB 1482) 10.65 (market)
PROPERTY DETAILS
Address 622 & 630 E Victoria Street
APN 029-142-03 and 029-142-04
Units 16 (two 8-unit buildings)
Unit Mix 4 x 2BD/1BA and 12 x 1BD/1BA
Rentable SF 9,672 SF total, 4,836 each building (per public records)
Land Size 16,000 SF total, 8,000 SF each property (per public records)
Zoning R-M (Residential Multi-Unit)
Year Built 1961
Parking 16 spaces
Laundry Two laundry rooms, (1 per building)
To Show Call listing agent