2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

One of Montecito’s Few Residential Income Complexes Over 10 Units | Exceptional Development Potential

for sale � prime location 14-unit apartment complex1 0 6 2 coa st V i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

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 lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

for sale � Prime location 14-unit aPartment comPlex1 0 6 2 coa st v i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

One of only three apartment complexes over ten units in Montecito, this offering is a unique opportunity to acquire a rare and highly desired asset. The property’s prime location is within walking distance to fine shopping and restaurants along Coast Village Road. Sitting on over a half acre, the sprawling property features large private patios and a private forested courtyard. Several units have been renovated and the remaining units are in very good, original condition. The property generates over $385,000 in gross income plus upside in the rent should a new buyer renovate the remaining original units.

executive summary & offering highlights

PROPERT Y SPECIFIC S

� Price — $10,600,000

� Building Size — Fourteen (14) apartments; ±11,466 SF

� Units — (7) 2BR+1BA; (7) 1BR+1BA

� Lot Size — Approx. 26,136 SF

� Zoning — C-1/S-D-3

� APN — 009-211-014

� Floors — Two stories

� Year Built — 1959 with multiple units recently renovated

� Please do not disturb tenants. Contact Listing Agents to schedule a showing.

OFFERING HIGHLIGHTS

� Conveniently located in Central Montecito along Coast Village Road within walking distance to shopping and restaurants.

� Over a half acre site with future development potential.

� Large open courtyard with mountain views.

� Property generates cash flow during entitlements.

� Valuable Coast Village Road frontage.

� Close Proximity to the ocean and Butterfly Beach.

� Potential upside in current rents.

5.6.16

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 lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

for sale � Prime location 14-unit aPartment comPlex1 0 6 2 coa st v i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

interior & exterior photos

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 lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

for sale � Prime location 14-unit aPartment comPlex1 0 6 2 coa st v i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

Herm

osillo

Dr.

Coast Village Rd.

Hwy. 101

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 lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

for sale � Prime location 14-unit aPartment comPlex1 0 6 2 coa st v i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

Her

mos

illo

Dr.

Oliv

e M

ill R

d.

Coast Village Rd.

Butterfly Beach

Hwy. 101

1062 Coast Village Rd.

1 Starbucks2 Von’s3 Little Alex’s4 U.S. Post Office 5 Sakana Sushi & Japanese6 Tre Lune7 Coast Village Inn8 Cava Restaurant9 The UPS Store

10 Honor Bar11 Jeannine’s Bakery12 Trattoria Mollie13 Montecito Inn14 Lucky’s15 Los Arroyos16 CVS Pharmacy

17 Coral Casino Beach & Cabana Club18 Four Seasons Biltmore Santa Barbara

3

5

78

9 1014

15 16

17

4

12

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 lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

for sale � Prime location 14-unit aPartment comPlex1 0 6 2 coa st v i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

current income analysis proforma/level rent income analysis

Suite Apt. Size Mo. Rent/Unit Total Rent

A-1 2BD/1BA $2,200 $2,200A-2 2BD/1BA $2,300 $2,300B-1 1BD/1BA $1,950 $1,950B-2 1BD/1BA $1,995 $1,995C-1 1BD/1BA $2,100 $2,100C-2 1BD/1BA $1,950 $1,950D-1 1BD/1BA $2,300 $2,300D-2 1BD/1BA $2,100 $2,100E-1 2BD/1BA $2,975 $2,975E-2 2BD/1BA $2,900 $2,900F-1 2BD/1BA $2,800 $2,800F-2 2BD/1BA $2,500 $2,500G 1BD/1BA $1,800 $1,800H 2BD/1BA $2,300 $2,300

Subtotal $32,170Annual Scheduled Income: $386,040Laundry: $1,619Annual Gross Income: $387,659

LESS EXPENSES

New Taxes 1.04% $10,600,000 $110,167

Insurance Estimated $4,646

Equipment Rental Estimated $2,508

Utilities Estimated $16,272

Landscaping Estimated $2,400

Repairs & Maintenance $ 250 $3,500

Reserves Per Unit $ 250 $3,500

Management 3% $11,630

Annual Expenses (per unit) ($11,044) 40% ($154,623)

Net Operating Income: $233,036

Purchase Price: $10,600,000

CAP Rate: 2.2%

Suite Apt. Size Mo. Rent/Unit Total Rent

A-1 2BD/1BA $2,975 $2,975A-2 2BD/1BA $2,975 $2,975B-1 1BD/1BA $2,300 $2,300B-2 1BD/1BA $2,300 $2,300C-1 1BD/1BA $2,300 $2,300C-2 1BD/1BA $2,300 $2,300D-1 1BD/1BA $2,975 $2,975D-2 1BD/1BA $2,300 $2,300E-1 2BD/1BA $2,975 $2,975E-2 2BD/1BA $2,975 $2,975F-1 2BD/1BA $2,975 $2,975F-2 2BD/1BA $2,975 $2,975G 1BD/1BA $2,300 $2,300H 2BD/1BA $2,975 $2,975

Subtotal $37,600Annual Scheduled Income: $451,200Laundry Income: $1,619Parking Income: $19,200Annual Gross Income: $472,019

LESS EXPENSESNew Taxes 1.04% $10,600,000 $110,167Insurance Estimated $4,646

Equipment Rental Estimated $2,508

Utilities Estimated $16,272

Landscaping Estimated $2,400

Repairs & Maintenance $ 250 $3,500

Reserves Per Unit $ 250 $3,500

Management 3% $14,161

Annual Expenses (per unit) ($11,225) 33% ($157,154)

Net Operating Income: $314,865

Purchase Price: $10,600,000CAP Rate: 3.0%

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 lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

for sale � Prime location 14-unit aPartment comPlex1 0 6 2 coa st v i l l ag e r d. | m o n t e c i to, c a

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

Neighboring Santa Barbara and located just 90 miles north of Los Angeles is the small and exclusive community of Montecito. This beloved area offers incomparable scenery and a near perfect Mediterranean climate for its wealthy residents and guests who visit far and wide seeking a memorable getaway at a world renowned resort. The most vibrant part of this chic and elegant hamlet, is Coast Village Road, also known as Montecito’s Lower Village, offering boutique shopping, world-class dining, fine jewelry stores, historic hotels, and a thriving business environment. Only three blocks from the Four Season’s Biltmore and the famed Butterfly Beach, Coast Village Road stretches five blocks beginning with the Montecito Country Mart located on Hot Springs Road and ending with Charlie Chaplin’s historic Montecito Inn at Olive Mill Road.

montecito, california