$2,750,000
SOLD SEP 26, 2024

2390 Banner Ave Santa Barbara, CA 93108

Summerland Neighborhood
-- Bed
-- Bath
-- Sq Ft
0.28 Acres

Recently Sold

8% Below List Price

12 Days on Market

Highlights

  • Property is near an ocean
  • Laundry Room
  • Heating Available
  • Property is near a park
  • Tile Flooring

About This Home

As of September 2024

Discover an exceptional 9-unit property in the highly sought-after coastal zone of Summerland, offering an unparalleled investment opportunity with stunning south-facing ocean views from every unit. This distinctive property includes:
Six Spacious Two-Bedroom, One-Bath Units: Each featuring open floor plans that maximize natural light and breathtaking ocean vistas with decks for entertaining. Two Charming One-Bedroom Units: Both with delightful private patios, perfect for relaxing and enjoying the serene surroundings. One Cozy Studio: Complete with its own private patio, adding to the property's diverse living options. Residents and guests will appreciate the ample parking provided by 13 uncovered spaces, and the shared common laundry area enhances convenience. Centrally located, this property is just a short stroll from downtown Summerland's vibrant restaurants, boutique shops, and the pristine Summerland Beach. This investment opportunity boasts incredible upside potential and will be delivered with tenants in place, ensuring immediate rental income. Don't miss out on owning a prime piece of coastal real estate with unrivaled ocean views and an exceptional location in Summerland.
**** PLEASE DO NOT GO ON PROPERTY WITHOUT AN APPOINTMENT ****

Last Agent to Sell the Property

Grubb Campbell Group

Village Properties License #01236143 / 01410304

Co-Listed By

Brittany Lough

Village Properties - 1 License #01905525

Last Buyer's Agent

Kristi A. Curtis

Sotheby's International Realty License #02012866

Property Details

Home Type

  • Multi-Family

Lot Details

  • 0.28 Acre Lot
  • Property is in average condition

Home Design

  • Raised Foundation

Flooring

  • Carpet
  • Tile

Parking

  • 13 Open Parking Spaces
  • 13 Parking Spaces

Location

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

Schools

  • Summerland Elementary School
  • Carp. Jr. Middle School
  • Carp. Sr. High School

Utilities

  • Heating Available
  • Shared Gas Meter
  • Individual Gas Meter

Additional Features

  • Laundry Room
  • Property is near an ocean

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 005-149-010
  • Seller Considering Concessions

Community Details

Overview

  • 9 Units
  • 05 Summerland Subdivision

Pet Policy

  • Pets Allowed

Building Details

  • Gross Income $190,320

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Income Expenses Annual Income: 190320.0
  • Gross Rent Multiplier: 15.76
  • Monthly Income: 15860.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Miscellaneous Parking Spaces: 13.0
  • ResoLaundryFeatures: Laundry Room
  • ResoLotFeatures: Near Public Transit
  • Co List Office Mls Id: vip01
  • Co List Office Phone: 805-681-8800
  • Subdivision Name: 05 - Summerland
  • Reso Flooring: Carpet, Other, Tile
  • New Construction: No
  • Reso Property Condition: Average
  • Property Information Apx # Acres: 0.28
  • NeighborhoodSchools Elementary School: Summerland
  • NeighborhoodSchools Junior High School: Carp. Jr.
  • NeighborhoodSchools High School: Carp. Sr.
  • Parking Info Total # Unconvered Spaces: 13.0
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Laundry Laundry Room2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Proximity Near Shopping2: Yes
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • Pets Yes: Yes
  • Condition Average2: Yes
  • Foundation Raised2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.28
  • Foundation Details: Mixed, Raised

Garage/Parking

  • Open Parking Spaces: 13.0
  • Total Parking Spaces: 13.0

Utilities

  • Heating: Other
  • HeatingYN: Yes

Schools

  • Elementary School: Summerland
  • High School: Carp. Sr.
  • Middle Or Junior School: Carp. Jr.

Lot Info

  • Parcel #: 005-149-010
  • Zoning: Other
  • Lot Size Sq Ft: 12196.8
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Other, Trash Collection, Water

Multi Family

  • Number Of Units Total: 9
  • Annual Gross Income: 190320.0
  • Total Actual Rent: 15860.0

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
09/26/2024 09/26/24 Sold $2,750,000 -8.3% --
08/20/2024 08/20/24 Pending -- -- --
08/08/2024 08/08/24 For Sale $3,000,000 -- --
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 24-2622

Santa Barbara Multiple Listing Service

California Santa Barbara County Santa Barbara 93067 Summerland

2390 Banner Ave, Santa Barbara, CA

Homes for Sale in Santa Barbara, CA

This home is located at 2390 Banner Ave, Santa Barbara, CA 93108 and is currently priced at $2,750,000. 2390 Banner Ave is a home located in Santa Barbara County with nearby schools including Carpinteria Senior High School, Our Lady of Mount Carmel School, and Crane Country Day School.

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