1221 Chapala St 8,098 SF 100% Leased Office Building Santa Barbara, CA 93101 $4,950,000 ($611.26/SF) 4.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Downtown Santa Barbara beautiful Spanish architecture 3 story mixed use trophy building
- 13 designated parking spaces plus adjacent parking & city parking lot across the street.
- Approximately 7,525/ft of fully leased office/retail & residential penthouse.
- Elevator service to all floors.
- Located on the 3rd floor is an approx. 1,911+ sq/ft 2 bedroom 2 bath penthouse w/large deck of living room & large roof deck/spa area
EXECUTIVE SUMMARY
Downtown Santa Barbara 3 story mixed use trophy building with approximately 7,525/ft of fully leased office/retail/residential space. Located on the 3rd floor is a approx. 1,911 sq/ft 2 bedroom 2 bath penthouse w/roof deck/spa & 360 degree views of Santa Barbara. Located on ground floor 2750sq/ft retail/office space. Second floor 2,864 sq/ft multiple office space with large private deck. Elevator service to all floors. 12 designated parking spaces plus adjacent parking & city parking across the street One block off State St close to the historical theater arts section. across from SB Public Market Vic, Arlington & Granada Theaters. Enjoy restaurants, shops & downtown amenities. A rare & unique offering. Property Website link: .https://www.1221chapala.com/mls/162770561
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$265,000
|
$32.72
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$265,000
|
$32.72
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
8,098 SF
Building Class
B
Year Built
1987
Price
$4,950,000
Price Per SF
$611.26
Cap Rate
4.20%
NOI
$207,900
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,699 SF
Building FAR
1.09
Lot Size
0.17 AC
Zoning
C2 - General Commercial
Parking
13 Spaces (1.61 Spaces per 1,000 SF Leased)
AMENITIES
- Fireplace
- Kitchen
- Roof Terrace
- Air Conditioning
1 of 1
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 039-172-002 | Improvements Assessment | $1,917,443 (2023) |
| Land Assessment | $1,006,066 (2023) | Total Assessment | $2,923,509 (2023) |
