Sold
2165 Ortega Hill Road
SUMMERLAND CA, 93067
$4,350,000
$554.14 per sqft
Sold
1 Bath
7,850 sqft
Commercial
Built in 1990
Courtesy of Mitch Stark, Berkshire Hathaway HomeServices California Properties
1st Time on the Market in 26 Years!
This 41 Unit Self Storage in a great Summerland location, is a true legacy & trophy asset that rarely come available & represents an incredible investment opportunity! Conveniently located off Hwy 101 & adjacent to UC Regents recently acquired 28 acre bluff top ''campus'' with 122,000 SF of office buildings. All units are drive up with exterior roll up doors, w/ a great unit mix: 10 - 10' x 15', and 31 - 10' x 20' sized units.
Extremely strong market fundamentals w/ little to no vacancy in the 13 mile trade area. Current rents are below market, thus allowing for a true value add opportunity at 5.16 pro forma cap rate for an investor. All tenants are mo/mo, allowing an owner user to occupy some or all of the units.
A tremendous & rare offering!
22-2196
MLSⓇ ID
June 30, 2022
Listed
March 28, 2024
Updated
Map
2165 Ortega Hill Road
SUMMERLAND CA, 93067
Interior Features
Bathrooms
1 Bath
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.61 Acres
Other Property Details
Area Name
05 - CARPINTERIA-SUMMERLAND
Garage
No
View
No
County
Santa Barbara
Pool
No
Zoning
C-1
Buyer Agency Compensation
2.25%
Listing History
Date | Event | Price |
---|---|---|
6/30/2023 | Sold | $4,350,000 |
Listed by Berkshire Hathaway HomeServices California Properties, Mitch Stark,
Listing Contact:
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Data last updated 4:18 AM UTC, 3/28/2024