310 5th Street

Solvang, CA 93463

$3,600,000
Price
10
Beds
4,500 Sq. Ft.
$800 / Sq. Ft.
4,500
Sq. Ft.
$800
per Sq. Ft.

Description

Don’t miss this very rare opportunity to acquire a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking...Don’t miss this very rare opportunity to acquire a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking lot. The units are close to all that downtown Solvang has to offer, including restaurants, galleries, shops, and more. With over 40% upside in rents, this property offers the prudent investor lots of upside opportunity.
  1. Listed by Steven Battaglia • DRE #01318215 • Brokerage DRE #01318215 • Steven Battaglia, Broker • 8056806431

Property Details for 310 5th Street

Parking Spaces Total
10
Private Pool
No
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4500
Assessor Parcel Number
139-200-012
Property Attached YN
true
LISTING UPDATED: 09/17/2024 09:00 AM

Property Details for 310 5th Street

StatusActive
MLS #PI24182421
Days on Market60
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1900
CountySanta Barbara County

Building Information for 310 5th Street

Building/Complex310 5th StFloor-Stories2Residences-Pet Policy-Year Built1900Building Size-

Property Information for 310 5th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $253,200
  • Gross Scheduled Income: $253,200
  • Net Operating Income: $162,788
Expense Details
  • Operating Expense: $82,816
  • Fuel Expense: $1,230
  • Electric Expense: $410
  • Insurance Expense: $6,000
  • Professional Management Expense: $12,280
  • Trash Expense: $2,800
  • Water Sewer Expense: $8,362
  • Total Expenses: $82,816
Tax / Assessment Info
  • CFD/Mello-Roos Fee: $0
Community / Development
Community / Development
  • Community Features: Park
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: Ground Level
  • Foundation Details: Slab
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 10
  • Open Other Spaces Total: 10
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 10
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $989
  • Unit Type Total Rent: $9,885
  • Unit Type Pro Forma: 21000
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1

Property History for 310 5th 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 310 5th Street

Taxable ValueLand$30,494Additions$184,098Total$214,592
Tax Record2024$2,300 ($192 / month)
Home Facts
Lot Size8,712 SqFtStyleMulti-Family Res (5+ Units)CountySANTA BARBARAAPN139-200-012

Schools near 310 5th Street

This home is within Santa Ynez Valley Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Solvang Elementary School
PublicK to 8

Santa Ynez Valley Union High School
Public9 to 12

Refugio High School
Public9 to 12

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.

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310 5th Street is a multi-family home for sale in Solvang, CA 93463. This property was listed for sale on September 3, 2024 by Steven Battaglia, Broker, it's currently listed at $3,600,000. This listing's school districts are Santa Ynez Valley Union High School District, Solvang Elementary School District. Nearby schools include Solvang Elementary School, Santa Ynez Valley Union High School and Refugio High School. 310 5th Street is a 10-bed, 0-bath, 4,500 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Steven Battaglia, Broker, Steven Battaglia, DRE #01318215

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.