2380 Lillie Ave
Summerland, CA 93067
Multifamily Property For Sale
·
8 Units
Property Facts
| No. Units | 8 | Lot Size | 0.25 AC |
| Property Type | Multifamily | Building Size | 4,111 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1950 |
| Building Class | C | Parking Ratio | 2.92/1,000 SF |
| Zoning | C1 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 4,111 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 2.92/1,000 SF |
| Zoning | C1 |
Amenities
Site Amenities
- Laundry Facilities
- Storage Space
About 2380 LILLIE AVE , SUMMERLAND, CA 93067
GPS Commercial Real Estate Services is pleased to exclusively present this opportunity to acquire 100% fee interest in a small apartment complex in the southern California beach community of Summerland. This irreplaceable property consists of 5 buildings and holds 8 units, one is currently operated on a commercial basis. Five of the eight units have ocean views. The units are in good condition and the location near the beach and services will accommodate a substantial upgrade to achieve maximum rents. The unique property is well located along Lillie Ave. immediately off Highway 101 which runs parallel to the commercial corridor of Summerland. Immediately south of Montecito and just a few miles from Santa Barbara as well as a few hundred feet from Lookout Park and Summerland Beach makes this location unforgettable and intriguing. The surrounding area has an affluent demographic profile with the population of Summerland having an average household income of $109,000/yr. The tenants are all on a month to month lease except for one unit whose lease expires March of 2018. Landlord pays all utilities. Units are master metered for gas, electric, and water service. All have 30-40 gallon water heaters and wall heating units.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $875.00 | 185 - 343 |
| 1+1 | 4 | $1,670 | 330 - 480 |
| 2+2 | 1 | $2,900 | 881 |
Property Taxes
| Parcel Number | 005-185-007 | Improvements Assessment | $883,263 |
| Land Assessment | $1,656,120 | Total Assessment | $2,539,383 |
Property Taxes
