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111 N Milpas Street

Santa Barbara, CA 93103
  • $1,315,000
  • STATUS: Active
  • ON SITE: 68 Days
  • ID#: V1-12166
UPDATED: 59 min ago
$1,315,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,800
    SQFT
  • $731
    $/SQFT
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

Commercial building located in the heart of the Milpas corridor being offered at a 5.40% Cap Rate on current income of $7,450/Month! This building has been significantly renovated with new exterior paint, new plumbing, new electrical, new electrical panel, new appliances, and a majority of wood repaired/replaced and several new windows were also replaced. Generous lot currently has two tenants (Building/house $4,200/Month & Storage yard $3,250/Month) with tenants paying all utilities. Value add upside with a set of drafted site plans/floor plans to add a 2-story, 2 bedroom/2 bathroom with attached garage ADU. Short distance to East beach, 101 Freeway access, downtown Santa Barbara, Funk Zone, water front and Santa Barbara Bowl! Great-owner user opportunity or investor looking for good return on the evolving Milpas corridor.

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Based on information from CRISNet MLS as of 2022-07-05T13:56:37.187. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR 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. 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.

Based on information from the i-Tech MLS as of 2022-07-05T13:56:37.187. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchhomesincalifornia.com/homes/128114181
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111 N Milpas Street Santa Barbara, CA 93103

  • Price: $1,315,000
  • Status: Active
  • On Site: 68 Days
  • Updated: 59 min ago
  • ID#: V1-12166
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1,800
SQFT
$731
$/SQFT
Neighborhood:
Vc81 - Santa Barbara
County:
Santa Barbara
Area:
Vc81 - Santa Barbara
Property Description
Commercial building located in the heart of the Milpas corridor being offered at a 5.40% Cap Rate on current income of $7,450/Month! This building has been significantly renovated with new exterior paint, new plumbing, new electrical, new electrical panel, new appliances, and a majority of wood repaired/replaced and several new windows were also replaced. Generous lot currently has two tenants (Building/house $4,200/Month & Storage yard $3,250/Month) with tenants paying all utilities. Value add upside with a set of drafted site plans/floor plans to add a 2-story, 2 bedroom/2 bathroom with attached garage ADU. Short distance to East beach, 101 Freeway access, downtown Santa Barbara, Funk Zone, water front and Santa Barbara Bowl! Great-owner user opportunity or investor looking for good return on the evolving Milpas corridor.
Exterior Features

Fence YN Yes Parking Total 0.00

Interior Features

Cooling None Cooling YN No Heating YN Yes

Property Features

Building Status Existing Property Sub Type Office Special Listing Conditions Standard Water Source Public Zoning C-2/M-1

Listing provided courtesy of Jonathan Standring, CA DRE# 02001768, of Beachside Partners.


Based on information from CRISNet MLS as of 2022-07-05T13:56:37.187. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR 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. 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.

Based on information from the i-Tech MLS as of 2022-07-05T13:56:37.187. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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