1001-1021 East Cypress Avenue
1001-1021 East Cypress Avenue
Description
units). Tenants enjoy a common courtyard with three community BBQs, two on-site laundry rooms and 36 carport spaces with tenant storage
closets. All tenants are on a month-to-month lease with current rents that are approximately 35% below market. Ownership has recently replaced all railings at the property to meet today’s code.
- Listed by Christos Celmayster • DRE #01342996 • Brokerage DRE #02017017 • Hayes Commercial Group, Inc. • christos@hayescommercial.com
Property Details for 1001-1021 East Cypress Avenue
Location
Property Details for 1001-1021 East Cypress Avenue
| Status | Active |
|---|---|
| MLS # | SC24074841 |
| Days on Market | 16 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Multi-Family |
| Year Built | 1984 |
| County | Santa Barbara County |
Location
Building Information for 1001-1021 East Cypress Avenue
Payment Calculator
$57,003 per month
30 year fixed, 7.25% Interest
$57,003
—
$0
Property Information for 1001-1021 East Cypress Avenue
- Tenant Pays: Electricity, Gas, Sewer, Trash Collection, Water
- Gross Income: $10,145
- Gross Scheduled Income: $885,605
- Net Operating Income: $530,406
- Laundry Income: $10,145
- Gross Multiplier: 11.79
- Cap Rate: 5.08
- Operating Expense: $328,631
- Fuel Expense: $12,830
- Electric Expense: $13,775
- Insurance Expense: $18,865
- Professional Management Expense: $42,952
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $328,631
- Tax Census Tract: 27.08
- Community Features: Biking, Curbs, Foothills, Park, Sidewalks, Storm Drains, Street Lights, Suburban
- Laundry: Yes
- Laundry Features: Common Area
- Heating: Natural Gas
- Entry Location: Ground
- Pool Features: None
- Pool Description: None
- Additional Parcels Description: 085-150-094
- Lot Features: 36-40 Units/Acre, Corner Lot, Lot Over 40000 Sqft
- Lot Location: Near Bus, Near Hospital, Near Park(s), Near School(s), Near Shopping
- Number Of Units: 60
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Uncovered Spaces: 17
- Open Other Spaces Total: 17
- Parking Garage Spaces: 0
- Carport Spaces: 62
- Builders Tract Name: South East Lmpc
- Builders Tract Code: South East Lmpc(52)
- Unit Type Units Total: 40
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $50,905
- Unit Type Total Rent: $50,905
- Unit Type Pro Forma: 70100
- Unit Type Type: 1
- Unit Type Units Total: 20
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $22,050
- Unit Type Total Rent: $22,050
- Unit Type Pro Forma: 28080
- Unit Type Type: 2
- Rent Controlled: No
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 60
- Number Of Separate Gas Meters: 60
- Number Of Separate Water Meters: 2
Property History for 1001-1021 East Cypress Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1001-1021 East Cypress Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Arthur Hapgood Elementary School PublicK to 6 | ||
Lompoc Valley Middle School Public7 to 8 | ||
Lompoc High School Public9 to 12 | ||
Dr Bob Forinash Community Day Public7 to 12 |
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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Listing Courtesy of Hayes Commercial Group, Inc., Christos Celmayster, DRE #01342996
Based on information from one of the following Multiple Listing Services: Santa Barbara 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 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.