Crystal Apartments 1726 De la Vina St Immeuble residentiel 6 lots 2 701 061 € (450 177 €/Lot) Taux de capitalisation 5 % Santa Barbara, CA 93101

Hayes Commercial Group is pleased to offer for purchase the Crystal Apart¬ments located at 1726 De La Vina Street in downtown Santa Barbara. This 6-unit apartment building consists of all 2BD/1BA units, averaging approximately 1,000 square feet. The size of these units sets them apart from most 2BD rentals on the market. The property provides six carport parking stalls, spacious walk-in locking storage, and common laundry room. Excel¬lent location offers proximity to shopping, restaurants, services and amenities in both downtown Santa Barbara and Upper State Street, while the nearby self-rental bike station and bus stop provide further conve¬nience for tenants.
The current rents are approximately 15% below market which can be easily obtained through a couple cycles of Rent Increase per AB 1482, allowing an owner a more expedi-tious path to securing market rents. Please call listing agent for more information and a link to property documents including: Gen¬eral Building Inspection, SB721 Inspection, Pest Inspection and Roof Inspection.
INVESTMENT DETAILS
Price: $3,100,000
Price Per Unit: $516,667
Cap Rate: 5.00% (current) 5.50% (AB 1482) 6.25% (market)
GRM: 13.10 (current) 12.24 (AB 1482) 11.15 (market)
PROPERTY DETAILS
Address: 1726 De La Vina Street
APN: 027-092-022
Units: 6
Unit Mix: 6 x 2BD/1BA
Rentable SF: 6,090 SF plus a 324 SF laundry room
Land Size: 9,534 SF
Zoning: R-M (Residential Multi-Unit)
Year Built: 1974
Parking: 6 carport spaces
Laundry: On-site laundry room
To Show: Do not disturb tenants or enter property; Call listing agent