11 Commodore Marina LOOP Loop Pending Save Request In-Person Tour Request Virtual Tour
Out Of Area,CA 94941
Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Square Footage 1,387 sqft
Price per Sqft $1,259
MLS Listing ID 25-877
Year Built 1967
Source Santa Barbara Multiple Listing Service
Property Description
This completely remodeled 4-Unit Houseboat has been approved by the Commodore Marina as a short-term rental since September of 2022. All units have consistently maintained occupancy rates over 80%. Gross rental income in 2024 was $415,030, making the GRM just 4.21 years at the bidding start price, The NOI was $255,281, making the Cap Rate 14.6%.
Each unit features a raised platform bed to overlook open water views, a full kitchen including a stacking washer/dryer, a full bath with heated floors and a private outside deck area. There is also over 1000 sq. ft. of climate-controlled storage in the barge below decks with a commercial washer/dryer to allow for quick rental change overs
Location
State CA
County Out Of Area
Interior
Heating Radiant Flooring,Solar,Elec
Laundry Laundry Room,In Unit
Exterior
Parking Features Uncovered,Street
Building
Lot Description Near Public Transit
Foundation Other
New Construction No
Others
Tax ID 901-100-11
Acceptable Financing Cash,Ctel
Listing Terms Cash,Ctel