Sold
Closed
414 W Figueroa Street
SANTA BARBARA CA, 93101
$5,020,000
$478.10 per sqft
Sold
Closed
6 Beds
5 Baths
10,500 sqft
Residential
Built in 1979
Courtesy of Christos Celmayster, Hayes Commercial Group
414 W Figueroa Street is a Spanish-style 10-unit multifamily property located near downtown Santa Barbara, offering an excellent unit mix of 3 x 3BD/2BA, 6 x 2BD/2BA, and 1 x 1BD/1BA, totaling approximately 10,505 SF of living space (average unit size 1,050 SF). Originally built in 1979, the property sits on a 24,211 SF R-MH (Residential Multi-Unit and Hotel) zoned parcel with a Medium Average Unit Density Overlay (27 Units / Acre) which could allow for a maximum density of 15 total units. Tenants enjoy mature landscaping, a large common laundry room and excellent onsite parking. Ground-floor units feature patios and yards while upper units include private balconies creating a unique indoor/outdoor living experience not typically found in this area. All units are separately metered. Seller financing now available with minimum 35% down, 5.5% interest-only payments, and 5-year maximum term.
Price: $4,998,000
APN: 039-211-017
Units: 10 Units
Unit Mix: 3 x 3BD/2BA; 6 x 2BD/2BA; 1 x 1BD/1BA
Building Size: 10,505 SF (approx.)
Land Size: 24,211 SF (approx.)
Zoning: R-MH (Residential Multi Unit and Hotel)
AUD Overlay: Medium Density (27 Units/acre)
Year Built: 1979 (approx.)
Parking: 20 spaces (9 carports, 10 uncovered, and
one 294 SF one-car garage)
Laundry: Onsite laundry room (approx. 175 SF)
Cap Rate:
Current: 4.09%
Market: 5.86%
GRM:
Current: 15.18
Market: 11.77
23-3004
MLSⓇ ID
October 5, 2023
Listed
November 22, 2024
Updated
Map
414 W Figueroa Street
SANTA BARBARA CA, 93101
Interior Features
Total Stories
2
Bedrooms
6
Total Bathrooms
5
Full Bathrooms
5
Laundry Description
Laundry Room
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.56 Acres
Lot Features
Near Public Transit
School Information
High School
S.B. Sr.
Elementary School
Peabody
Other Property Details
Area Name
20 - SB/WEST OF STATE
Days on Market
100
Garage
Yes
Garage Spaces
1
Parking
Garages, Carport, Uncovered
Parking Total
20
View
No
County
Santa Barbara
Pool
No
Zoning
R-4
Listing History
Date | Event | Price |
---|---|---|
3/4/2024 | Sold | $5,020,000 |
1/15/2024 | Pending | — |
11/15/2023 | Price change | $4,998,000 -2% |
Listed by Hayes Commercial Group, Christos Celmayster,
Listing Contact: [email protected]
This information is being provided for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that you may be interested in purchasing. Data relating to real estate for sale on this Website comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. All information is deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither the Santa Barbara Multiple Listing Service, the listing broker(s), the owner of this site, nor Luxury Presence shall be responsible for any typographical errors, misinformation, or misprints.
©2024 Santa Barbara Association of REALTORS. All rights reserved.
Data last updated 2:25 PM UTC, 11/22/2024