$3,850,000
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1 Bath
7,850 SqFt
SOLD DATE : 08/05/2022
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 7,850 sqft
Price per Sqft $554
MLS Listing ID 22-2196
Sold Date 08/05/22
Year Built 1990
Lot Size 0.610 Acres
Acres 0.61
Lot Dimensions 26571.0
Property Sub-Type Commercial
Source Santa Barbara Multiple Listing Service
Property Description
1st Time on the Market in 26 Years!
This 41 Unit Self Storage in a great Summerland location, is a true legacy & trophy asset that rarely come available & represents an incredible investment opportunity! Conveniently located off Hwy 101 & adjacent to UC Regents recently acquired 28 acre bluff top ''campus'' with 122,000 SF of office buildings. All units are drive up with exterior roll up doors, w/ a great unit mix: 10 - 10' x 15', and 31 - 10' x 20' sized units.
Extremely strong market fundamentals w/ little to no vacancy in the 13 mile trade area. Current rents are below market, thus allowing for a true value add opportunity at 5.16 pro forma cap rate for an investor. All tenants are mo/mo, allowing an owner user to occupy some or all of the units.
A tremendous & rare offering!
Location
State CA
County Santa Barbara
Direction Adjacent to Hwy 101 - behind the Summerland Inn.
Exterior
Parking Features Uncovrd
Others
Tax ID 005-121-005
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