6593 Madrid Road, Unit 4

Sold 5/22/07
Sold 5/22/07
Gallery Image 1
Last Sold Price
$1,587,500
2 beds2 baths1,000 sqft$1,588/sqft
6593 Madrid Rd, Unit 4, Santa Barbara, CA 93117

Description

New Price Adjustment! $127,200 Annual Income. 100% leased for 2007-2008 School Year! GRM: 13.36 / Proforma: 12.64 . Completely rehabbed apartment complex located next to downtown Isla Vista and 2 blocks from UCSB campus. Property features all 2 bedroom / 2 Bath units. Owner has invested over $150,000 into full rehab. Property looks immaculate. No deferred maintenance with very little operating expenses overall. Priced to sell! This is a must see investment property! Over the last month, owner has...New Price Adjustment! $127,200 Annual Income. 100% leased for 2007-2008 School Year! GRM: 13.36 / Proforma: 12.64 . Completely rehabbed apartment complex located next to downtown Isla Vista and 2 blocks from UCSB campus. Property features all 2 bedroom / 2 Bath units. Owner has invested over $150,000 into full rehab. Property looks immaculate. No deferred maintenance with very little operating expenses overall. Priced to sell! This is a must see investment property! Over the last month, owner has installed tile flooring throughout complex(except bedrooms), brand new new dual pane windows with wood blinds, custom remodeled kitchens and bathrooms, new exterior paint with extensive landscaping work and new rod iron fence.
LISTING CLOSED: 05/22/2007 12:00 AM

  1. Listed by Craig Lieberman • DRE #00682741 • Apartment Investment Specialists, Inc

Property Details for 6593 Madrid Road, Unit 4

Status
Sold
MLS #
700686VC
Days on Market
99
Taxes
$20,842 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Multi Family
MLS Type
Residential Income
Year Built
1968
Lot Size
0.15 AC / 6,534 SF
County
Santa Barbara County
Zoning
R3
Living Area
1000
Source Living Area
405
Area
Santa Barbara (VC81)
Lot Size Area
6534
Home owner Dues
$0
Assessor Parcel Number
075-161-012
Map Coordinate
9999/A9

Recent comparable sales

Median sold price

$1,500,000

Avg days on market

71

Sale-to-list ratio

95.6%

Santa Barbara, CA

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Building Information for 6593 Madrid Road, Unit 4

Stories-Residences-Year Built1968Building Size-Lot Size0.15 AC / 6,534 SF

Payment Calculator

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$9,806 per month

30 year fixed, 6.55% Interest

Principal and Interest

$8,069

Property Taxes

$1,737

HOA Dues

$0

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Property Information for 6593 Madrid Road, Unit 4

Community / Development
Community / Development
  • Complex Name: Cla
  • Association Phone: (805) 687-5557
  • Number Of Units: 4
  • Professional Management: 6200.0
  • Management Company Name: Cla
  • Management Company Phone: (805) 687-5557
Structure Info
Structure Info
  • Number Of Stories: 0
  • Number Of Buildings: 0
  • Unit Number: 4
  • Sewer: Sewer
  • Personal Property Amount: $.00
  • Personal Property Percent: .00%
Contract Info
Contract Info
  • ForSale: 1.0
  • Financing: Cash, Conventional
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Gross Operating Income: $0
  • Net Operating Income: $10,600.00
  • Gross Income: $0
  • Gross Scheduled Income: $0
  • Cap Rate: 5.00%
  • Gross Rent Multiplier: $13.00
  • Actual Annual Gross Rent: $127,200.00
  • Actual Gross Annual Income: $0
  • Monthly GrossI Income: $.00
  • Gross Spendable Income: $0
  • Gross Equity: $0
  • Other Income1: $.00
  • Other Income2: $.00
  • Garage Income: $0
  • Laundry Income: $0
  • Actual Rent Total: $.00
  • Vacancy Allow Dollar: $.00
  • Vacancy Allow Percent: 1.00%
  • Expense Actual Annual Vacancy: $.00
  • Pool Expense: $.00
  • Water Expense: $1,350.00
  • Gas Expense: $250
  • Electric Expense: $250.00
  • Trash Expense: $1,350.00
  • Other Expense: $5,447.00
  • Expense Cable TV: $.00
  • Expense Furniture: $.00
  • Elevator Expense: $.00
  • Expense Pest: $.00
  • Tax Expense: $20,842
  • Gardener Expense: $0
  • Expense Security: $.00
  • Expense Workers Compensation: $.00
  • Expense Licenses: $.00
  • Insurance Expense: $1,200
  • Expense Advertising: $.00
  • Expense Operating: $.00
  • Management Expense: $6,200.00
  • Manager Expense: $0
  • Expense Supplies: $.00
Land / Lot Info
Land / Lot Info
  • Land Lease Amount Per Year: $.00
  • Alley: Yes
  • Lot Acreage: 0.15
  • Lot Location: Alley Access
  • Telephone: 1.0
Parking Details
Parking Details
  • Total Parking: 0
  • Covered Parking: 0
  • Open Other Spaces Total: 0
  • Garage Spaces Total: 0
  • Carport Spaces Total: 0
  • Garage Structures Total: 0.0
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall Unit(s), Wall/Window
  • Cooling Type: Wall Unit(s), Wall/Window
  • Heating: Wall, Wall Electric, Wall Gas
  • Heating Type: Wall, Wall Electric, Wall Gas
  • Laundry: Room
Exterior Features
Exterior Features
  • Spa: No
Lease Terms
Lease Terms
  • Listing Terms: Conventional, Cash
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Rent: $2,650.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 5 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 6 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 7 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 8 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 9 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 10 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 11 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 12 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 13 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit Details
  • Number of Carpet: 0
  • Number of Dishwasher: 0
  • Number of Disposal: 0
  • Number of Drapes: 0
  • Number of Electric Meters: 0
  • Number of Gas Meters: 0
  • Number Leased: 0
  • Number Patio: 0
  • Number Range: 0
  • Number Refrigerator: 0
  • Number Rented Garages: 0
  • Number Wall AC: 0
  • Number Water Meters: 0
Tax and Assessed Info
Tax and Assessed Info
  • Tax New: $0
  • Tax Percent: .00%
  • Tax Rate: .00%
  • Tax Rate Year: 0.00
  • Assessed Improvement Value: $.00
  • Assessed Improvement Percent: 0.0
  • Assessed Land Value: $.00
  • Assessed Land Percent: 0.00
  • Assessed Total Value: $.00

Property History for 6593 Madrid Road, Unit 4

DateEvent & SourcePriceAppreciation
May 22, 2007

Sold

CLAW #700686VC

$1,587,500—
Apr 4, 2007

Pending

CLAW #700686VC

—
Jan 3, 2007

Listed (Active)

CLAW #700686VC

$1,894,750—
DateEvent & SourcePrice
05/22/2007

Sold

CLAW #700686VC

$1,587,500
04/04/2007

Pending

CLAW #700686VC

—
01/03/2007

Listed (Active)

CLAW #700686VC

$1,894,750

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 6593 Madrid Road, Unit 4

This home is within Goleta Union Elementary School District.
Rating
School
Type
Grades
Distance
Isla Vista Elementary School
Public - K to 6
Goleta Valley Junior High School
Public - 7 to 8
Dos Pueblos Senior High School
Public - 9 to 12
Santa Barbara Charter School
Charter - K to 8
Rating
School
Distance
Isla Vista Elementary School
PublicK to 6

Goleta Valley Junior High School
Public7 to 8

Dos Pueblos Senior High School
Public9 to 12

Santa Barbara Charter School
CharterK to 8

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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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 6593 Madrid Road, Unit 4, Santa Barbara, CA 93117
$1,587,500
2
2
1,000
6,534
6589 Madrid Road, Goleta, CA 93117
$2,000,000
8
4,000
6,534
6586 Madrid Road, Goleta, CA 93117
$1,300,000
8
–
5,000
6599 Madrid Road, Goleta, CA 93117
$2,076,750
8
–
–
6599 Madrid Road, Unit 4, Goleta, CA 93117
$1,405,000
4
3
4,128
6,045
6594 Madrid Road, Goleta, CA 93117
–
–
–
–
6,098

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim 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 seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Apartment Investment Specialists, Inc, Craig Lieberman, DRE #00682741

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS and North Santa Barbara County Regional 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 and North Santa Barbara County Regional 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.