2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

614–618W PEDREGOSA ST | SANTA BARBARA CA 93101

FOR SALE

Well-Maintained 10-Unit Multifamily Asset on Santa Barbara's Westside

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

This well maintained property comprises three buildings: two apartment

buildings and one freestanding, 3BD+1BA house. The apartments include

(1) 3BD+1BA, (4) 2BD+1BA, and (4) 1BD+1BA. The property also features

8 carport spaces, plus 3 additional spaces. Nestled on a residential block

with only light traffic, the buildings are situated on a deep lot with lush

landscaping providing a quiet, oasis-like feel despite their proximity to

the Mission St./101 Fwy. interchange. Harding Elementary School & La

Cumbre Junior High School are nearby, and downtown Santa Barbara is

within easy bicycling distance. This property has not been available for sale

in decades and is competitively priced at $437,000/unit with a proforma cap

rate of 4.2%. Please contact listing agents for additional information.

P R O P E R T Y O V E R V I E W

Offering Specifics

Type Multifamily

Price $4,375,000 | $437,000 Per Unit

Cap Rate Actual: 3.7% | Proforma: 4.2%

Land Size ±16,117 SF

Unit Mix Apartments: (1) 3BD+1BA; (4) 2BD+1BA; (4) 1BD+1BA House: (1) 3BD+1BA

APN 043-131-024

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

SUBJECT PROPERTY

W. P

EDREGOSA S

T.

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

W. M

ISSIO

N ST.

PUEBLO ST.

W. P

EDREGOSA ST.

W. IS

LAY ST.

W. V

ALERIO S

T.

CHAPALA ST.

STATE ST.

ANACAPA ST.

DE LA VINA ST.BATH ST.

W. L

OS OLIV

OS ST.

CASTILLO ST.

MODOC RD.

5

6

13

2

1519

21

20

11

12

18

16

17

16

14

13

10

9

8

4

7

Nearby Merchants & Amenities

1 Daily Grind Coffee

2 Mission Street Ice Cream & Yogurt

3 Derf's Cafe

4 Santa Barbara Chicken Ranch

5 Handlebar Coffee Roasters

6 Grocery Outlet

7 Los Agaves Mexican Restaurant

8 Bath Street Inn

9 SBCC School of Extended Learning

10 Ike's Love & Sandwiches

11 Yellow Belly

12 Bree'Osh Bakery

13 Marty's Pizza

14 Santa Barbara Tire Center

15 Garrett's Old Fashioned

16 Cajun Kitchen Cafe

17 Taffy's Pizza

18 Park Place Deli

19 7-Eleven

20 Sinclair Gas Station

21 ARCO

COTTAGE HOSPITAL

614–618 W. PEDREGOSA

STREET

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

A N A LY S I S614-618 Pedregossa StreetIncome Analysis, Pro Forma and Property Valuation

Rent Roll (Monthly)

Unit Configuration Status Current Rent Market614-A 3br / 1bath Vacant 2,800$ 2,940$614-B 1br / 1bath Leased 1,800$ 1,890$614-C 1br / 1bath Leased 1,800$ 1,890$614-D 1br / 1bath Leased 1,640$ 1,890$618-A 2br / 1bath Leased 2,500$ 2,625$618-B 1br / 1bath Leased 1,700$ 1,890$618-D 2br / 1bath Leased 2,200$ 2,400$618-E 2br / 1bath Leased 1,950$ 2,400$618-H 2br / 1bath Leased 2,600$ 2,730$House 3br / 1bath Vacant 3,200$ 3,360$

10 Total Units 100% 22,190$ 24,015$

Income Analysis (Annual)

Annual Income Current MarketAnnual Schedule Income $266,280 $288,180

Vacancy Factor 2% 2%Gross Income $260,954 $282,416

Annual ExpensesProperty Tax 52,500$ 52,500$

Property Management $13,048 $14,121Utilities $13,338 $13,338

Insurance 6,000 $6,000Gardener 3,500 $3,500

Pest Control 2,500 $2,500Reserve 3,000 $3,000

Repairs & Maintenance $5,000 $5,000Total Annual Cost $98,886 $99,959

Net Operating Income (NOI) $162,069 $182,458

Cap Rate Based Price Analysis:

$437,000 Price Per Unit

Asking Price $4,375,000Cap Rate 3.7% Current - 4.2% (pro forma)

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

PROPERTY ADDRESS DATE OF SALE PRICE NO. OF UNITS CAP RATE PPU

1 Subject Property: 614–618 W. Pedregosa St. — $4,375,000 10 3.7% $437,000

2 524 E. Arrellaga St. 2/26/2021 $3,400,000 6 — $566,667

3 204 W. Yanonali St. 5/15/2020 $5,650,000 10 3.47% $565,000

4 1501 Santa Barbara St. 1/16/2019 $4,394,000 8 — $549,250

C O M P A R A B L E S A L E S

2

7

12

811

3

4139

10

61 5

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

PROPERTY ADDRESS DATE OF SALE PRICE NO. OF UNITS CAP RATE PPU

5 1530 Bath St.. 12/16/2020 $2,695,000 5 4.26% $539,000

6 2015 Castillo St. 2/01/2020 $2,795,000 6 4.66% $465,833

7 221 W. Micheltorena St. 12/5/2019 $4,425,000 10 4.24% $442,500

8 1320 Laguna St. 8/15/2019 $2,450,000 6 — $408,333

C O M P A R A B L E S A L E S , C O N T.

2

7

12

811

3

4139

10

61 5

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

PROPERTY ADDRESS DATE OF SALE PRICE NO. OF UNITS CAP RATE PPU

9 1032 E. Mason St.. 3/22/2019 $3,100,000 8 — $387,500

10 410 W. Micheltorena St. 1/29/2020 $5,225,000 14 5.36% $373,214

11 806 N. Nopal St. 12/30/2019 $2,815,000 8 4.19% $351,875

12 160 Camino de Vida 12/15/2020 $4,200,000 12 4.20% $350,000

13 28 W. Pedregosa St. 7/18/2019 $4,250,000 14 3.06% $303,571

C O M P A R A B L E S A L E S , C O N T.

2

7

12

811

3

4139

10

61 5

F O R S A L E | 1 0 - U N I T M U L T I F A M I LY A S S E T6 1 4 – 6 1 8 W. P e d r e g o s a S t . | S a n t a B a r b a r a , C A 9 3 1 0 1

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 4 . 2 1

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | R A D I U S G R O U P . C O M3 . 1 7 . 2 1

Steve G olis805.879.9606sgolis@radiusgroup.comCA LIC. 00772218

Mike L o p us805.879.9650mlopus@radiusgroup.comCA LIC. 01970736

Symbolizing the ultimate in casual California lifestyle, Santa Barbara is undoubtedly one of America’s most desirable destinations to live and travel.

Located on a pristine coastline approximately 337 miles south of San Francisco and 93 miles north of Los Angeles, Santa Barbara is nestled between the Pacific Ocean and the Santa Ynez Mountains. This stretch of coast is known as the “American Riviera” because of its mild Mediterranean climate.

With a population of approximately 92,101, Santa Barbara is both small and vibrant. Locals and visitors are drawn to the city’s charming downtown and picturesque State Street with its rich Spanish architecture and historical sites, wide variety of shops and galleries, numerous Zagat-rated restaurants and thriving open-air shopping centers like the famed Paseo Nuevo Mall. Pristine, sunny beaches, an exapansive harbor and countless outdoor attractions including the Santa Barbara Zoo, Santa Barbara Mission, Stearns Wharf and Santa Barbara Museum of Natural History all add to the area’s appeal. And with nearly 220 vineyards within a short drive, Santa Barbara County is a renowned wine region offering an array of some of the finest labels in the world.

THE AMERICAN RIVIERA

“Best Beach Town”Sunset Magazine’s 2015 Inaugural Travel Awards

“The 12 Best Cities for a Weekend Getaway”

U.S. News & World Report

“30 Best Small Cities in America”

Condé Nast Traveler’s Readers’ Choice Awards

T H E M A R K E T | S A N T A B A R B A R A