NOT LISTED FOR SALE

427 W Montecito St Santa Barbara, CA 93101

West Beach Neighborhood
-- Bed
-- Bath
7,225 Sq Ft
10,454 Sq Ft Lot

Last Sold December 29, 2023

Last sale price $4,800,000 $664 Per Sq Ft

49 Days on Market

Highlights

  • 0.24 Acre Lot
  • Laundry Room
  • 5-minute walk to Pershing Park
  • Patio

About This Home

As of December 2023

Twilight Apartments is a well-located multi-family property in Santa Barbara's West Beach area, close to Santa Barbara Harbor, West Beach, Santa Barbara City College, Pershing Park, and all that Santa Barbara's waterfront has to offer. Property consists of (1) 2Bed/1Bath, (6) 1Bed/1Bath, and (12) Studios, for a total of 19 units in 2 buildings. Property was originally built in 1962 and has a Certificate of Occupancy as apartments. R4 zoning provides investors flexibility on whether to keep a long term rental or use as student housing or convert to hotel/hospitality. All utilities are master metered. Studio apartments have compact kitchenettes. There are 19 tuck-under parking spaces and a common area laundry room. Income and GRM shown is Proforma.

Last Listed By

Steve Battaglia

Battaglia Commercial Real Esta License #01318215 Listed on: 09/08/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 10,454

Home Design

  • 7,225 Sq Ft Home
  • Slab Foundation

Parking

  • 19 Parking Spaces
  • 19 Carport Spaces

Additional Features

  • Laundry Room
  • Patio
  • 10,454 Sq Ft Lot
  • Cooling System Mounted In Outer Wall Opening

Listing and Financial Details

  • The owner pays for trash collection, water, gas, electricity, heat
  • Assessor Parcel Number 033-022-019

Community Details

Overview

  • 19 Units

Building Details

  • Operating Expense $172,703
  • Gross Income $532,200
  • Net Operating Income $343,531

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: 532200.0
  • Capitalization Rate: 5.73
  • Gross Rent Multiplier: 11.26
  • Annual Expenses: 172703.0
  • Meters Sep Meter Elec: N
  • Meters Sep Meter Gas: No
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 19.0
  • ResoLaundryFeatures: Laundry Room
  • Property Information Year Built2: 1962
  • Property Information Apx # Acres: 0.24
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • HeatingCooling Wall3: Yes
  • Parking Info Carport2: Yes
  • Parking Info Total # Carport Spaces2: 19.0
  • Foundation:Slab: Yes
  • Laundry Laundry Room2: Yes
  • Property Information Main House SqFt: 7225.0
  • Amenities Patio2: Yes
  • IncomeExpenses NOI2: 343531
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 0.24
  • Foundation Details: Slab

Garage/Parking

  • Parking Features: Carport
  • Total Parking Spaces: 19.0

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Parcel #: 033-022-019
  • Zoning: R-4
  • Lot Size Sq Ft: 10454.4
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Trash Collection, Water, Gas, Electricity, Heat

Multi Family

  • Number Of Units Total: 19
  • Annual Gross Income: 532200.0
  • Annual Operating Expense: 172703.0

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
12/29/2023 12/29/23 Sold $4,800,000 -19.9% $664 / Sq Ft
10/27/2023 10/27/23 Pending -- -- --
09/08/2023 09/08/23 For Sale $5,995,000 -- $830 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steve Battaglia

    Seller's Agent in 2023

    Steve Battaglia

    Battaglia Commercial Real Esta

    (805) 688-5333

    1 in this area

    88 Total Sales

    Steve Battaglia
    Section Image

  • K

    Buyer's Agent in 2023

    Ken Switzer

    Berkshire Hathaway HomeServices California Properties

    (805) 969-5026

    4 in this area

    101 Total Sales

    Ken Switzer
    Section Image
See All Agents

Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 23-2686

Santa Barbara Multiple Listing Service

California Santa Barbara County Santa Barbara 93101 West Beach

427 W Montecito St, Santa Barbara, CA

Homes for Sale in Santa Barbara, CA

This home is located at 427 W Montecito St, Santa Barbara, CA 93101 since 08 September 2023. This property was built in 1962. 427 W Montecito St is a home located in Santa Barbara County with nearby schools including McKinley Elementary School, La Cumbre Junior High School, and Notre Dame School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Santa Barbara Multiple Listing Service This information is being provided for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that you may be interested in purchasing. Data relating to real estate for sale on this Website comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. All information is deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither the Santa Barbara Multiple Listing Service nor the listing broker(s) shall be responsible for any typographical errors, misinformation, or misprints.
Copyright 2025 Santa Barbara Multiple Listing Service. All rights reserved.