1924 San Pascual Street

Santa Barbara, CA 93101

$4,790,000
Last Sold Price
3
Beds
3
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Description

Prime investment opportunity with this centrally located, 14-unit multi-family property, just blocks from Cottage Hospital and close to downtown Santa Barbara's employment hubs, dining, shopping, and beaches. The 2-story building offers two 2-bed/1-bath and twelve 1-bed/1-bath apartments, all with easy access to major transit routes. Recent enhancements include a new roof, resurfaced driveway, updated parking, and sewer upgrades, contributing to strong tenant appeal. Achieve steady returns with significant...Prime investment opportunity with this centrally located, 14-unit multi-family property, just blocks from Cottage Hospital and close to downtown Santa Barbara's employment hubs, dining, shopping, and beaches. The 2-story building offers two 2-bed/1-bath and twelve 1-bed/1-bath apartments, all with easy access to major transit routes. Recent enhancements include a new roof, resurfaced driveway, updated parking, and sewer upgrades, contributing to strong tenant appeal. Achieve steady returns with significant long-term upside potential (5-6%+ cap rate possible). Offering Memorandum available in Documents; inspections upon request.
  1. Listed by Randy Freed & Kellie Clenet • DRE #20131217230902415175000000 • Berkshire Hathaway HomeServices California Properties
    P: (805)-895-1799 C: (805)-895-1799 Team@theSantaBarbaralifestyle.com
  2. Listed by Ken Switzer • DRE #01245644 • Berkshire Hathaway HomeServices California Properties
    P: (805)-680-4622 kenswitzer1@yahoo.com

Property Details for 1924 San Pascual Street

Zoning
R-3
Zoning:R-3
Yes
Location Info:Cross Street
Mission St
Property Information:Recurring Fees
No
LISTING UPDATED: 11/26/2024 03:48 PM

Property Details for 1924 San Pascual Street

StatusClosed
MLS #24-1428
Days on Market146
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi-Family
Year Built1964
Lot Size0.41 AC / 17,859 SF
CountySanta Barbara County

Building Information for 1924 San Pascual Street

Stories2Residences14Year Built1964Building Size-Lot Size0.41 AC / 17,859 SF

Property Information for 1924 San Pascual Street

Details
Features
  • District: 20 - SB/WEST OF STATE
  • District: 20 - SB/WEST OF STATE
  • Laundry Features: Laundry Room
  • Laundry:Laundry Room: Yes
  • Roof: True
  • Heating/Cooling:Wall: Yes
  • Year Built Numeric: 1964
  • Stories: 2
  • Property Information:Stories: 2.0
  • Building Area Total: 0.0
Taxes and HOA Information
  • Parcel Number: 043-132-013
  • Association Fee: $.00
Parking/Garage
  • Open Parking Spaces: 15.00
  • Parking Features: Uncovered
  • Parking Info:Uncovered: Yes
  • Parking Info:Total # Unconvered Spaces: 15.00
Miscellaneous
  • Miscellaneous:# Refrigerators: 14.00
  • Miscellaneous:# Stoves: 14.00
  • Miscellaneous:Parking Spaces: 15.00
Room Info
Room Info
  • Total Bathrooms: .00
  • Bathrooms Total (Decimal): .00
  • Bathrooms Total (Notational): .00
Location Info
Location Info
  • Location Info:Compass Map: Santa Barbara
  • Location Info:Map Grid: N12
  • Proximity:Near Bus: Yes
  • Proximity:Near Hospital: Yes
  • Proximity:Near Park(s): Yes
  • Proximity:Near School(s): Yes
  • Proximity:Near Shopping: Yes
  • Lot Features: Near Public Transit
Neighborhood/Schools
  • Elementary School: Harding
  • Junior High School: S.B. Jr.
  • High School: S.B. Sr.
  • NeighborhoodSchools:Elementary School: Harding
  • NeighborhoodSchools:Junior High School: S.B. Jr.
  • NeighborhoodSchools:High School: S.B. Sr.
Property / Assessor Information
Property / Assessor Info
  • Foundation Details: Slab
  • Lot Size Square Feet: 17859.6
  • Lot Size Area: 0.41
  • Lot Size Acres: 0.41
  • Lot Size Units: Acres
  • Property Type Label: Res Inc
  • New Construction YN: No
  • Foundation:Slab: Yes
  • Condition:Good: Yes
  • Property Information:Realtor.com Type: Multi-Family
  • Property Information:Year Built: 1964.0
Income / Expense Info
Income / Expense Info
  • Income/Expenses:Gross Rent Multiplr: 14.58
  • Income/Expenses:Capitalization Rate: 4.11
  • Income/Expenses:Estimated: Yes
  • Income/Expenses:Taxes: $53,147.00
  • Income/Expenses:Insurance: $10,000
  • Income/Expenses:Water Expense: $17,276
  • Income/Expenses:Electric Expense: $2,039
  • Income/Expenses:Gas Expense: $7,442
  • Income/Expenses:Trash Expense: $10,400
  • Income/Expenses:Maintenance Expense: $19,232
  • Income/Expenses:Total Monthly Exp: $11,790
  • Income/Expenses:Total Annual Exp: $141,478.00
  • Income/Expenses:NOI: 203471
  • Income/Expenses:Total Monthly Income: $29,292
  • Income/Expenses:Other Income: $625
  • Income/Expenses:Annual Income: $339,504
  • Gross Income: $339,504
  • Electric Expense: $2,039
  • Insurance Expense: $10,000
  • Maintenance Expense: $19,232
  • Trash Expense: $10,400
  • Gas Expense: $7,442
  • Water Expense: $17,276
  • OperatingExpense: $141,478
Unit Info
Unit Info
  • Number Of Units Total: 14
Unit 1 Info
  • Unit 1:# Units: 12
  • Unit 1:# Bedrooms: 1
  • Unit 1:# Baths: 1
  • Unit 1:# Half Baths: 0
  • Unit 1:Furnished: N
  • Unit 1:Rent: $1,850.00
  • Unit 1:Monthly Total: $22,249.00
Unit 2 Info
  • Unit 2:# Units: 2
  • Unit 2:# Bedrooms: 2
  • Unit 2:# Baths: 2
  • Unit 2:# Half Baths: 0
  • Unit 2:Rent: $2,707.00
  • Unit 2:Lease: Yes
  • Unit 2:Monthly Total: $5,418.00
Rental
Rental Information
  • Total Actual Rent: $29,292

Property History for 1924 San Pascual Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1924 San Pascual Street

Taxable ValueLand$3,500,000Additions$1,525,000Total$5,025,000
Tax Record2024$53,188 ($4,432 / month)
Home Facts
Lot Size17,859 SqFtStyleMulti-Family Res (5+ Units)CountySANTA BARBARAAPN043-132-013

Schools near 1924 San Pascual Street

This home is within Santa Barbara Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Adams Elementary School
PublicK to 6

La Cumbre Junior High School
Public7 to 8

San Marcos Senior High School
Public9 to 12

Santa Barbara Community Academy
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Randy Freed & Kellie Clenet, DRE #20131217230902415175000000; Berkshire Hathaway HomeServices California Properties, Ken Switzer, DRE #01245644

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