$21,150,000
SOLD FEB 5, 2025

20 Oceano Ave Santa Barbara, CA 93109

East Mesa Neighborhood
-- Bed
-- Bath
34,768 Sq Ft
0.89 Acres

Recently Sold

$608 Per Sq Ft

15% Below List Price

64 Days on Market

Highlights

  • Beach Front
  • Spa
  • Deck
  • Washington Elementary School Rated A
  • 0.89 Acre Lot
  • 3-minute walk to Shoreline Park

About This Home

As of February 2025

Nestled in the vibrant and picturesque Mesa neighborhood of Santa Barbara, Sea Cliff Apartments offers a unique and highly coveted investment opportunity. This expansive oceanfront property, comprising 29 meticulously designed units, is just steps away from the pristine sands of Leadbetter Beach, seamlessly combining high rental demand with luxurious lifestyle amenities. Each residence is thoughtfully crafted to optimize space and rental potential, nine of them are short term vacation rentals, which are equipped with top-tier amenities. Select units boast private balconies, some with hot tubs, providing tenants with exclusive comfort and leisure. Monthly Long Term Tenant Income: $73,858
Estimated Monthly Vacation Rental Income: $72,000
TOTAL: $145,858/month; $291,176 annuaThe complex also includes a stunning oceanfront rooftop deck, perfect for events and social gatherings, enhancing its allure as a desirable living destination.

Strategically positioned within walking distance to an array of restaurants, shopping centers, and entertainment venues, Sea Cliff Apartments offers tenants unparalleled access to the finest coastal lifestyle Santa Barbara has to offer. This blend of convenience, luxury, and prime location makes Sea Cliff Apartments a standout investment in the thriving beachfront community of The Mesa.

Please do not disturb tenants.


Call to Offers September 19, 2024.

Last Agent to Sell the Property

Steve Golis

Radius Group Commercial R.E. License #00772218

Radius Group Commercial R.E.

Co-Listed By

Mike Lopus

Colliers International Greater Los Angeles, Inc. License #01970736

Last Buyer's Agent

Chris Parker

Radius Group Commercial R.E. License #01887788

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Lot Details

  • 0.89 Acre Lot
  • Beach Front
  • Property is in excellent condition

Home Design

  • 34,768 Sq Ft Home

Flooring

  • Wood
  • Carpet
  • Stone
  • Tile

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Spa
  • Deck
  • Patio

Schools

  • Washington Elementary School
  • Lacumbre Middle School
  • S.B. Sr. High School

Listing and Financial Details

  • Assessor Parcel Number 045-230-028

Community Details

Overview

  • 29 Units

Building Details

  • Gross Income $1,750,296
  • Net Operating Income $981,293

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1970
  • Income Expenses Annual Income: 1750296.0
  • Monthly Income: 145858.0
  • ResoLaundryFeatures: Some
  • Co List Office Mls Id: rad
  • Co List Office Phone: 805-965-5500
  • Reso Flooring: Carpet, Hardwood, Other, Stone, Tile
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 1970
  • NeighborhoodSchools Elementary School: Washington
  • NeighborhoodSchools Junior High School: LaCumbre
  • NeighborhoodSchools High School: S.B. Sr.
  • Condition Excellent: Yes
  • FlrWdw Coverings Hardwood2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Property Information Main House SqFt: 34768.0
  • FlrWdw Coverings Stone2: Yes
  • Property Information Apx Lot SqFt: 38768.0
  • FlrWdw Coverings Carpet: Yes
  • Amenities Deck2: Yes
  • Amenities Spa2: Yes
  • Amenities Beach Front: Yes
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • Amenities Patio2: Yes
  • IncomeExpenses NOI2: 981293
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.89

Schools

  • Elementary School: Washington
  • High School: S.B. Sr.
  • Middle Or Junior School: LaCumbre

Lot Info

  • Parcel #: 045-230-028
  • Zoning: Other
  • Lot Size Sq Ft: 38768.0

Multi Family

  • Number Of Units Total: 29
  • Annual Gross Income: 1750296.0
  • Total Actual Rent: 145858.0

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/05/2025 02/05/25 Sold $21,150,000 -15.4% $608 / Sq Ft
10/22/2024 10/22/24 Pending -- -- --
08/19/2024 08/19/24 For Sale $25,000,000 -- $719 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 24-2721

Santa Barbara Multiple Listing Service

California Santa Barbara County Santa Barbara 93109 East Mesa

20 Oceano Ave, Santa Barbara, CA

Homes for Sale in Santa Barbara, CA

This home is located at 20 Oceano Ave, Santa Barbara, CA 93109 and is currently priced at $21,150,000, approximately $608 per square foot. This property was built in 1970. 20 Oceano Ave is a home located in Santa Barbara County with nearby schools including Washington Elementary School, La Cumbre Junior High School, and Olive Grove Charter - Santa Barbara.

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