$5,000,000

2220 Oak Park Ln Santa Barbara, CA 93105

Oak Park Neighborhood

Estimated payment $32,854/month

Total Views 4,829
-- Bed
-- Bath
7,830 Sq Ft
$639 Price per Sq Ft

Highlights

  • 0.34 Acre Lot
  • Property is near a park
  • Laundry Room
  • San Marcos Senior High School Rated A

About This Home

For sale for the 1st time in over 50 years, 2220 Oak Park Lane is a rare investment opportunity in one of the very best locations for top-quality tenant demand - less than a block to Cottage Hospital, Sansum Clinic and Ridley-Tree Center, and in the middle of Santa Barbara's several-block medical district with thousands of high-paying medical-related jobs. Consisting of 8 x 2-BR units plus 2 x 1-BR units, an investor can enjoy market-rate returns for the location by later in the year (AB 1482 at est. 4.32% cap), while leveraging the A++ location and favorable O-M zoning to provide numerous paths for substantially higher returns longer-term (pro-forma post-reno 6.5% net cap rate). Review the Offering Memorandum in Documents for details. PREVIEW OPEN HOUSE Thurs. 2/27 11-1:30pm

Listing Agent

Ken Switzer

Berkshire Hathaway HomeServices California Properties License #01245644

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.34 Acre Lot
  • Property is in good condition

Home Design

  • 7,830 Sq Ft Home
  • Slab Foundation

Laundry

  • Laundry Room

Parking

  • 10 Parking Spaces
  • 10 Carport Spaces

Location

  • Property is near a park
  • Property is near public transit
  • Property near a hospital
  • Property is near shops
  • Property is near a bus stop

Schools

  • Peabody Elementary School
  • S.B. Jr. Middle School
  • S.B. Sr. High School

Utilities

  • Shared Gas Meter
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 025-171-027

Community Details

Overview

  • 10 Units
  • 20 Oak Park Subdivision

Building Details

  • Electric Expense $736
  • Fuel Expense $3,248
  • Insurance Expense $12,000
  • Maintenance Expense $27,392
  • Trash Expense $5,771
  • Water Sewer Expense $18,332
  • New Taxes Expense $53,800
  • Operating Expense $148,955
  • Gross Income $341,796

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1962
  • Income Expenses Annual Income: 341796.0
  • Capitalization Rate: 3.86
  • Income Expenses Electric Expense: 736.0
  • Income Expenses Gas Expense: 3248.0
  • Gross Rent Multiplier: 14.63
  • Maintenance Expense: 27392.0
  • Annual Expenses: 148955.0
  • Monthly Expense: 12413.0
  • Monthly Income: 28255.0
  • Income Expenses Trash Expense: 5771.0
  • Income Expenses Water Expense: 18332.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Miscellaneous Parking Spaces: 10.0
  • ResoLaundryFeatures: Laundry Room
  • ResoLotFeatures: Near Public Transit
  • Income And Expenses Maintenance Expense: 27392.0
  • Subdivision Name: 20 - Oak Park
  • New Construction: No
  • Reso Property Condition: Good, Average
  • Property Information Year Built2: 1962
  • Property Information Apx # Acres: 0.34
  • NeighborhoodSchools Elementary School: Peabody
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Parking Info Carport2: Yes
  • Parking Info Total # Carport Spaces2: 10.0
  • Foundation:Slab: Yes
  • Proximity Near Park(s)2: Yes
  • Laundry Laundry Room2: Yes
  • Property Information Main House SqFt: 7830.0
  • Proximity Near Shopping2: Yes
  • Property Information Apx Lot SqFt: 14810.0
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • Proximity Near Hospital2: Yes
  • Condition Average2: Yes
  • IncomeExpenses Taxes6: 53800.0
  • Income Expenses Actual: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.34
  • Foundation Details: Slab

Garage/Parking

  • Parking Features: Carport
  • Total Parking Spaces: 10.0

Fee Information

  • Annual Fuel Expense: 3248.0
  • Trash Expense: 5771.0
  • Annual Water Sewer Expense: 18332.0

Schools

  • Elementary School: Peabody
  • High School: S.B. Sr.
  • Middle Or Junior School: S.B. Jr.

Lot Info

  • Parcel #: 025-171-027
  • Zoning: Other
  • Lot Size Sq Ft: 14810.0

Rental Info

  • Owner Pays: Other, Trash Collection, Water

Multi Family

  • Number Of Units Total: 10
  • Electric Expense: 736.0
  • Annual Gross Income: 341796.0
  • Insurance Expense: 12000.0
  • Annual Operating Expense: 148955.0
  • Total Actual Rent: 28255.0

Map

Range of Values:

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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
02/20/2025 02/20/25 For Sale $5,000,000 -- $639 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 25-756

Santa Barbara Multiple Listing Service

California Santa Barbara County Santa Barbara 93105 Oak Park

2220 Oak Park Ln, Santa Barbara, CA

Homes for Sale in Santa Barbara, CA

This home is located at 2220 Oak Park Ln, Santa Barbara, CA 93105 and is currently priced at $5,000,000, approximately $638 per square foot. This property was built in 1962. 2220 Oak Park Ln is a home located in Santa Barbara County with nearby schools including Adams Elementary School, La Cumbre Junior High School, and San Marcos Senior High School.

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Listing Agent
Ken Switzer
Section Image
Berkshire Hathaway HomeServices California Properties
(805) 329-3453