FOR SALE 2528 De La Vina St, Santa Barbara, CA Cottage Hospital Rental Property 6 Units

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1 2528 De La Vina St, Santa Barbara, CA Cottage Hospital al Property 6 Units 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com

2 2528 De La Vina St, Santa Barbara, CA Cottage Hospital al Property 6 Units Property Overview Six-unit Santa Barbara Charmer close to Cottage Hospital and the emerging upper De La Vina neighborhood, home to more than a dozen restaurants, bars and hangout spots. The property consists of two separate triplexes with a mix of 3 one-bedrooms, 2 studios, and 1 two-bedroom. The property also offers three one-car garages and one carport. One of the best rental locations in Santa Barbara due to its proximity to the hospital, downtown and upper State Street. Price: $1,925,000 Units: 6 Price Per Unit: $320,833 Unit Mix: Lot Size: Parking: Laundry Room: Zoning: R-4 1 X 2BD/1BA 3 X 1BD/1BA 2 X Studios approx. 6,969 SF APN: Cap Rate: GRM: CSO: 2.5% To Show: 3 one-car garages, 1 carport Hook-ups onsite (no machines) 4.02% (current), 4.47% (pro forma) (current), (pro forma) Accepted offer 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 2

3 2528 De La Vina St, Santa Barbara, CA Cottage Hospital al Property 6 Units PROPERTY DETAILS UNIT MIX & RENT ROLL Price: $1,925,000 CURRENT RENTS (Note #2) # of Units: 6 Price Per Unit: $320,833 GRM: Current s Unit #1-1BD/1BA 1 TBD $ 1,950 $ 1,950 $ 23,400 $ 2,000 $ 2,000 $ 24,000 CAP Rate: 4.02% Current s Unit #2-1BD/1BA 1 TBD $ 1,650 $ 1,650 $ 19,800 $ 1,850 $ 1,850 $ 22,200 GRM: Market s Unit #3 - Studio 1 TBD $ 1,500 $ 1,500 $ 18,000 $ 1,550 $ 1,550 $ 18,600 CAP Rate: 4.47% Market s Unit #4-1BD/1BA 1 TBD $ 1,800 $ 1,800 $ 21,600 $ 1,850 $ 1,850 $ 22,200 Land Area (Sq. Ft.): 23,958 Unit #5 - Studio w/ no kitchen 1 TBD $ 1,100 $ 1,100 $ 13,200 $ 1,150 $ 1,150 $ 13,800 Price/Land Area: $80 Unit #6-2BD/1BA 1 TBD $ 1,950 $ 1,950 $ 23,400 $ 2,300 $ 2,300 $ 27,600 Building Area (Sq. Ft.): N/A Price/Building Area: N/A Unit Type # of Units Unit Size (Note #1) Monthly Total Monthly Total Annual Monthly MARKET RENTS (Note #3) Total Monthly Total Annual Down Payment: $866,250 TOTALS 6 0 $ 9,950 $ 119,400 $ 10,700 $ 128,400 Down Payment (%): 45.00% Total Loan: $1,058,750 Debt Coverage Ratio: 1.20 INCOME & EXPENSE ANALYSIS Amortization: 30 Years Total Gross Potential al Income $ 9,950 $ 119,400 $ 10,700 $ 128,400 Term: 7 Years Garage Income Act. $ 425 $ 5,100 $ 425 $ 5,100 Rate: 4.500% Laundry Income N/A $ - $ - $ 30 $ 360 Monthly Loan Payment: $5,365 Total Gross Potential Income $ 10,375 $ 124,500 $ 11,155 $ 133,860 Annual Loan Payment: $64,374 (LESS) Vacancy Rate 2% $ (208) $ (2,490) $ (223) $ (2,677) Annual Interest Payment: $47,294 EFFECTIVE GROSS INCOME (EGI) $ 10,168 $ 122,010 $ 10,932 $ 131,183 Notes % of EGI % of EGI Property Value: $1,925,000 Real Estate Taxes 1.06% 16.66% $ 1,694 $ 20, % $ 1,694 $ 20,325 % of Improvements: 60% Estimated Insurance: 2017 Act. 2.22% $ 226 $ 2, % $ 226 $ 2,712 Depreciable Basis: $1,155,000 Gas 2017 Act. 1.48% $ 150 $ 1, % $ 150 $ 1,804 Depreciation Schedule: 27.5 Years Electric 2017 Act. 2.20% $ 224 $ 2, % $ 224 $ 2,683 Annual Depreciation: $42,000 Water/Sewer/Trash 2017 Act. 3.11% $ 316 $ 3, % $ 316 $ 3,795 Note 1: Units sizes are unknown FINANCING (Note #5) DEPRECIATION NOTES Note 2: Current s are provided by Owner Note 3: Market s are estimates based on market conditions Note 4: Expenses are both 2017 Actuals and Estimates Note 5: Loan terms are estimates. Buyer to verify. Note 6: No laundry units but there is an unused laundry room. Note 6: Per old ZIR's property is legally a 5 unit w/ a 6th "unit" that is permitted with a full bath. This unit is rented as a studio. CURRENT RENTS (Note #2) MARKET RENTS (Note #3) Supplies Est. 0.06% $ 6 $ % $ 6 $ 75 Repairs & Maintenance Est. $400/Unit/Year 1.97% $ 200 $ 2, % $ 200 $ 2,400 Turnover Expenses Est. $250/Unit/Year 1.23% $ 125 $ 1, % $ 125 $ 1,500 Property Manager 5% of EGI 5.00% $ 508 $ 6, % $ 547 $ 6,559 Taxes, Licenses & Prof. Fees Est. 0.10% $ 10 $ % $ 10 $ 125 Pest Control Est. 0.41% $ 42 $ % $ 42 $ 500 Gardening 2017 Act. 1.23% $ 125 $ 1, % $ 125 $ 1,500 Reserves Est. $200/Unit 0.98% $ 100 $ 1, % $ 100 $ 1,200 (LESS) TOTAL ANNUAL EXPENSES (Note #4) 36.65% $ (3,727) $ (44,719) 34.66% $ (3,765) $ (45,178) NET OPERATING INCOME (NOI) $ 6,441 $ 77,291 $ 7,167 $ 86, E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 3

4 2528 De La Vina St, Santa Barbara, CA Cottage Hospital al Property 6 Units Property Photos Cottage Hospital 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 4

5 2528 De La Vina St, Santa Barbara, CA Cottage Hospital al Property 6 Units Interior Photos 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 5

6 Aerial Looking North De La Vina Street An up-and-coming destination 1 Yellow Belly 8 The Dailey Method 2 Santa Barbara Chicken Ranch 9 Los Agaves 3 Our Daily Bread 10 The Daily Grind Edomasa 5 Santa Barbara Auto Camp 6 Handlebar Coffee 7 Grocery Outlet 11 The Patio 12 Trader Joe s 13 CVS 14 The Coffee Bean & Tea Leaf Location 0.2 mi to State Street 0.4 mi to Cottage Hospital 0.7 mi to Highway mi to Santa Barbara Golf Club 2 mi to Downtown