480 avenue of the flags · land at the corner of 2nd street and avenue of the flags in buellton, ca...
TRANSCRIPT
Co-Presented By
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
480 Avenue of the Flags Buellton, CA 93427
Offered at $2,950,00022 Unit Apartment Building Plus Additional Vacant Lot Situated
at the Heart of the City’s Proposed Master Plan Development
https://youtu.be/r3FwIey6tRE
WATCH VIDEO
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
property brief
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.
This 22 unit apartment property is centrally located on over an acre of prime
land at the corner of 2nd Street and Avenue of the Flags in Buellton, CA (Santa
Barbara County) and includes a separate undeveloped adjacent lot totaling
over 27,000 sq. ft. The property sits in close proximity to the 101 Freeway,
many downtown Buellton amenities and a new apartment development.
Additionally, as the new master plan in Buellton takes shape these parcels will
be situated at the heart of a revitalized downtown commercial corridor.
Price ▶ Apartment Building — $2,475,000 ($112,500/Unit) Additional Lot — $475,000 ($17.31/SF)
Total Price — $2,950,000 ($41.30/SF)
CAP Rates ▶ Apartments Parcel (Existing) — 3.64% Apartments Parcel (Market) — 5.46%
Units ▶ 22
Lot Size ▶ Apartments — ±43,995 SF (1.01 Acres) Additional Lot — ±27,442 SF (.63 Acres)
Total Land — ±71,437 SF (1.63 Acres)
Floors ▶ 2
APN ▶ 137-170-042 & -043
CSO ▶ 2.5%
https://youtu.be/r3FwIey6tRE
WATCH VIDEO
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Aven
ue O
f The
Fla
gs 2nd Street
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
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.
previous proposed redevelopment site plan
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3.1%
LOCATIONOFACCESSIBLEPATHOFTRAVELFROMTHEPUBLICSIDEWALKTOBLDG.ADHERETOCBC.SECT.1133B.7 1
2"
=DASHEDSHADEDAREADESIGNATESACCESSIBLEROUTEOFTRAVEL/EXITPATHOFTRAVEL
DOORSTHATENCROACHINTOWALKWAYSHAVEAMIN.60"x60"LEVELLANDINGAREAW/SLOPELESSTHAN1:50gradient(2%)INANYDIRECTION.(LEVELAREAEXTENDSAMIN.OF24"BEYONDSTRIKEEDGEOFDOOR.PERCU.B.C.SECT.1133B.7.5)
DOORSTHATSWINGAWAYFROMWALKSHAVEALEVELLANDINGAREAAMINIMUMOF48"WIDEx44"DEEPW/SLOPELESSTHAN1:50gradient(2%)INANYDIRECTION.PERC.U.B.C.SECT.1133B.7.5
4.3%
60"MIN.RADIUSREQUIREDFOR180°TURNS
UP
UP
SEATING
WASH
DRY
COUNTER
WASH
COUNTER
FUTUREKITCHENVENTHOODANDMAKEUPAIRCHASETOROOF
FUTUREKITCHENVENTHOODANDMAKEUPAIRCHASETOROOF
GASMETERSSEEMECHPLAN
UP
UP
WH
DBL.SINKW/DISP.
HOODW/FAN&LIGHT
RANGE
REF.
1BEDROOMUNIT19=565S.F.
1BEDROOMUNIT20=565S.F.
S&P
1BEDROOMUNIT21=565S.F.
KITCHEN
LIVING
ENTRY
BATH
BEDROOM
REF.
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HOODW/FAN&LIGHT
RANGE
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LIVING
DINING
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HOODW/FAN& LIGHT
RANGE
DW.
REF.
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DINING
ENTRY
KITCHENLIVING
BEDROOM1
1BEDROOMUNIT18=801S.F.
S&P
BATH
DBL.SINKW/DISP.
HOODW/FAN& LIGHT
RANGE
DW.
REF.
ENTRY
KITCHENLIVING
1BEDROOMUNIT22=801S.F.
WH
DINING
BEDROOM1
S&P
WHWH
HCUNIT
HCUNITENTRY
DBL.SINKW/DISP.
HOODW/FAN
&LIGHTRANGE
REF.
KITCHEN
S&P
BEDROOM
LIVING
BATH
DW.
WALLHEATER
WALLHEATER
ENTRY
DBL.SINKW/DISP.
HOODW/FAN
&LIGHTRANGE
REF.
KITCHEN
S&P
BEDROOM
LIVING
BATH
DW.
WALLHEATER
WALLHEATER
BATH
WALLHEATER
WALLHEATER
WALLHEATER
WALLHEATER
WALLHEATER
WALLHEATER
WALLHEATER
WALLHEATER
WALLHEATER
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FAU
PRIVATE1CARGARAGE
UP
P A C I F I C
A R C H I T E C T S
1117 Coast Village Road
Montecito, CA. 93108
8 0 5 . 5 6 5 . 3 6 4 0
All ideas, designs and plans indicated
or represented by these drawings are
owned by and are the property of
Pacific Architects and were created
and developed for use in connection
with the specified project. None of
such ideas, designs, or plans shall be
used for any purpose whatsoever
without the written permission of
Pacific Architects
Revision Description Date
Job Number
Date: 1/13/03
Sheet of
CountryCrossroads
480AVE.OFTHEFLAGS
A2
1CLIENT
CHG'S.5/13/03
3PLN. CK.
CORR.6/18/03
E
TA
TS
AIN
R
OFILACFO
LIC
E
NSED ARCHITECT
W
S.MAILLI
W
OLF
C-20857
RENEWAL
DATE
9-16-2004
XXX
X
X
X X X X X X X X X X X
ZA
CA
CREEK
355
35
0
35
5
34
5
354
354
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35
3
PARCEL B
N 62° 17' W 403.81'
240.60' 163.21'
240.60'
N 62° 17' W 379.60'
139.00'
S 2
7° 4
3' W
1
82
.28
'
S 2
7° 4
3' W
1
82
.28
'
N 3
5° 1
7' E
1
83
.88
'
3' DRAINAGE ESMT.
5' W
AT
ER
LIN
E &
P.U
.E.
ES
MT.
10' TEL. CO. ESMT.
10
' S
D E
SM
T.
SITEPLAN-PHASE21/16"=1'-0"
AVENUEOFTHEFLAGS
SECONDSTREET
NOTE:SEECIVILDRAWINGSFORACCURATEGRADING.DRAINAGE,PARKINGANDSITELAYOUTS
7FTTALLWOODFENCEW/LATTICEATRETAININGWALLREFERTODTL.'10'SHT.'A12.4'&CIVILDRW'G.SHT.'C2'FORREQUIREMENTS.
7FTTALLVINECOVEREDCHAINLINKFENCEATRETAININGWALLREFERTODETAIL'9'SHT.'A12.4'&CIVILDRW'G.SHT.'C2'FORREQUIREMENTS.
NEWACDRIVEANDPARKINGTYP.
OUTDOORSEATING
POND
SIGNAGE:PARKINGFORRESIDENTIALUNITSANDEMPLOYEEUSEONLYPERMITREQUIRED.
52
53
54
55
56
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58
59
60
LOADING
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
49
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SETBACK
ELEC.TRANS.
NEWCONC.WALKAY:
•ABRUPTCHANGESINLEVELDONOTEXCEED1/4"PERCBCSECT.1133B.7.4•LEVELCHANGESBETWEEN1/4"-1/2"AREBEVELEDAMINIMUMOF1:2PERCBCSECT1133B.7.4•SLOPEINTHEDIRECTIONOFTRAVELDOESNOTEXCEED1:20GRADIENT(5%)PERCBCSECT.1133B.7.3•CROSSSLOPEDOESNOTEXCEED1:50GRADIENT(2%)PERCBCSECT.1133B.7.1.3•48"MINIMUMWIDTHOFWALKWAYPERCBCSECT.1133.B.7.1.3•SURFACEISSLIPRESISTANT(SLOPESLESSTHAN6PERCENT)SURFACESWITHASLOPEOFLESSTHAN6PERCENTGRADIENTAREATLEASTASSLIPRESISTANTASTHATDESCRIBEDASAMEDIUMSALTEDFINISHPERCBCSECT.1133B.7.1.1
2%
2%
VANH.C.PARKINGSPACE&ACCESSIBLERAMP/AISLE
INTERNATIONALSYMBOLOFACCESSIBILITYSTALLEMBLEM
PRIVATEDRIVEWAY
25
26
27
28
29
30
31
32
46
47
48
37
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TRASHENCLOSURE
61
72
4'-0"
MIN.
9'-0"
25'-6"
25'-0"
47'-7"SETBACK
9'-1"
5'-4"
TYP.PARKING
APPROX131'-1"
SETBACK
129'-6"
239'-5"
4"
4"
SETBACK
VICINITYMAP(SCHEMATICN.T.S.)
N
PROJECTSITE
HWY. 101
HWY.246
TOSOLVANG
TOLOMPOC
SANTAROSARD.
NOJOQUIFALLSCOUNTYPARK
ALISALRD
.
OLDCOAST
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BALLARDCYN.RD.
HILLRD.
CHALK
BALLARDCYN. RD.
ALAMOPINTADORD.
McMURRAY
RD.
TOSANTAMARIA
TOSANTABARBARA
AVEOFTHEFLAGS
A14
3
A14
3
A2
1
A2
1
A14
1
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A12.3
1
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1
1
DIRECTIONALSIGNS:SIGNSHALLDISPLAYTHEINTERNATIONALSYMBOLOFACCESSIBILITY,INSTALLONPOSTTHESYMBOLSHALLCONSISTOFAWHITEFIGUREONABLUEBACKGROUND.THEBLUESHALLBEEQUALTOCOLOR#15090INFEDERALSTANDARD599b
DIRECTIONALSIGNS,ASREQUIRED-PLACESIGNSATALLMAJORJUNCTIONSOFALLPATHSOFTRAVEL,INDICATINGTHEDIRECTIONTOTHEACCESSIBLEENTRANCEASPERCBCSECT.1127B.3TOBEVISIBLETOPERSONSALONGAPPROACHINGPEDESTRIANWAYS.ASPERCBCSECT.1117B.5.7
SITEDIRECTIONALSIGNAGE
SYMBOLSLEGEND
KEY NOTE SYMBOL
1 REVISION NUMBER
LEVEL LINE, CONTROL POINT OR DATUM
MATCH LINE
NEW OR REQUIRED POINT ELEVATION10.00'
ELEVATION NUMBERSHEET NUMBER
A1 3
SECTION LETTERSHEET NUMBER
AA1
EXISTING CONTOURSELEVATION NOTED ON HIGH SIDE55
NEW CONTOURSELEVATION NOTED ON HIGH SIDE20
DETAIL NUMBERSHEET NUMBER
1A1
EXISTING POINT ELEVATION10.00'
DOOR SYMBOL/ NUMBERREFER TO SCHEDULE
A
2
COLUMN REFERENCE GRIDS
ROOM / SPACE NUMBER1994
WALL FINISH SYMBOL INDICATORSEE FINISH / MATERIAL SCHEDULE
A
B
C
D
WINDOW SYMBOL / LETTERSEE GLASS SCHEDULE
A
VCT-1 FINISH/MATERIAL KEYSEE FINISH/MATERIAL SCHEDULE
PROJECT NORTHN
1
33
3
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
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.
previous proposed redevelopment renderings
P A C I F I C
A R C H I T E C T S
1117 Coast Village Road
Montecito, CA. 93108
8 0 5 . 5 6 5 . 3 6 4 0
All ideas, designs and plans indicated
or represented by these drawings are
owned by and are the property of
Pacific Architects and were created
and developed for use in connection
with the specified project. None of
such ideas, designs, or plans shall be
used for any purpose whatsoever
without the written permission of
Pacific Architects
Revision Description Date
Job Number
Date:1/13/03
Sheet of
CountryCrossroads
480AVE.OFTHEFLAGS
A6
2CLIENT
CHG'S.6/18/03
4VALUE
ENGINEERING8/11/03
E
TA
TS
AIN
R
OFILACFO
LI C
E
NSEDARCHIT
ECT
W
S.MAILLI
W
OLF
C-20857
RENEWAL
DATE
9-16-2004
A
B
A8
C
A8
A8
B
A8
10'-0"
9'-0"
T.P.
F.F.
F.F.
T.P.
9'-0"
10'-0"
T.P.
F.F.
F.F.
T.P.
9'-0"
10'-0"
T.P.
F.F.
F.F.
T.P.
8'-0"
WDW.HEADHEIGHT
7'-0"
WDW.HEADHEIGHT
8'-0"
7'-0"
WDW.HEADHEIGHT
WDW.HEADHEIGHT
25'-9"
MEANHEIGHT
BUILDINGHEIGHT
F.F.ELEV.358.62'
F.F.ELEV.370.35'
F.F.ELEV.370.35'
F.F.ELEV.358.62'
F.F.ELEV.370.35'
F.F.ELEV.358.62'
SOUTHELEVATION1/8"=1'-0"
1/8"=1'-0"
NORTHELEVATION
WESTELEVATION1/8"=1'-0"
•REFERTOSHEET'A1'FORKEYNOTES
•REFERTOSHEET'A1'FORKEYNOTES
•REFERTOSHEET'A1'FORKEYNOTES
2
4
4
4
19
A9
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A92,9
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3,10
A9
1,8
A92,9
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3,10
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A9
18
A9
1A10
1A10
2A10
3
A10
3
A10
8
A10
5
A10
4
A104
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6,7A10
9
A109
A10 A11
A111
2
SIM.
SIM.
A11
A111
2
SIM.
SIM.
5AA11
5A
A11
1,8
A9
2,9
A9
3,10
A9
5,12
A96,13A9
7,14
A9
19
A9
18
A9
8
A10
5
A1019
A9
1A10
2
A10
3
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4
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A10
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A11
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2
SIM.
SIM.
5AA11
1,8
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3,10
A9
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A9 A9
A9
1,8
2,93,10
19
A9
18
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8
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A10
19
A9
1A10
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2
A102
A10
3
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3
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4
A109
A106,7A10
5A
A11
M1
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EX1
EX4
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DW1
M16
M15
M16 M16 M16 M15
M16 M17
EX4
EX1
EX4
M1 M1 M1 M1 M1 M1 M1 M1
DW1
M1
DW2
EX3
M1M1M1
M15
M16 M17 M16
M1
DW2
M15
EX4
EX3
DW1
M16
EX1
M15
M16 M17 M16
M15
EX1
M16
A11
A111
2
1,4A12.4
2,5A12.4
3,6A12.4
M27
M27
M27
P A C I F I C
A R C H I T E C T S
1117 Coast Village Road
Montecito, CA. 93108
8 0 5 . 5 6 5 . 3 6 4 0
All ideas, designs and plans indicated
or represented by these drawings are
owned by and are the property of
Pacific Architects and were created
and developed for use in connection
with the specified project. None of
such ideas, designs, or plans shall be
used for any purpose whatsoever
without the written permission of
Pacific Architects
Revision Description Date
Job Number
Date:1/13/03
Sheet of
CountryCrossroads
480AVE.OFTHEFLAGS
A6
2CLIENT
CHG'S.6/18/03
4VALUE
ENGINEERING8/11/03
E
TA
TS
AIN
R
OFILACFO
LI C
E
NSEDARCHIT
ECT
W
S.MAILLI
W
OLF
C-20857
RENEWAL
DATE
9-16-2004
A
B
A8
C
A8
A8
B
A8
10'-0"
9'-0"
T.P.
F.F.
F.F.
T.P.
9'-0"
10'-0"
T.P.
F.F.
F.F.
T.P.
9'-0"
10'-0"
T.P.
F.F.
F.F.
T.P.
8'-0"
WDW.HEADHEIGHT
7'-0"
WDW.HEADHEIGHT
8'-0"
7'-0"
WDW.HEADHEIGHT
WDW.HEADHEIGHT
25'-9"
MEANHEIGHT
BUILDINGHEIGHT
F.F.ELEV.358.62'
F.F.ELEV.370.35'
F.F.ELEV.370.35'
F.F.ELEV.358.62'
F.F.ELEV.370.35'
F.F.ELEV.358.62'
SOUTHELEVATION1/8"=1'-0"
1/8"=1'-0"
NORTHELEVATION
WESTELEVATION1/8"=1'-0"
•REFERTOSHEET'A1'FORKEYNOTES
•REFERTOSHEET'A1'FORKEYNOTES
•REFERTOSHEET'A1'FORKEYNOTES
2
4
4
4
19
A9
1,8
A92,9
A9
3,10
A9
1,8
A92,9
A9
3,10
A9
A9 A9
A91,8
2,93,10
19
A9
18
A9
1A10
1A10
2A10
3
A10
3
A10
8
A10
5
A10
4
A104
A10
6,7A10
9
A109
A10 A11
A111
2
SIM.
SIM.
A11
A111
2
SIM.
SIM.
5AA11
5A
A11
1,8
A9
2,9
A9
3,10
A9
5,12
A96,13A9
7,14
A9
19
A9
18
A9
8
A10
5
A1019
A9
1A10
2
A10
3
A10
4
A109
A10
6,7A10
A11
A111
2
SIM.
SIM.
5AA11
1,8
A9 A9
3,10
A9
2,9
A9 A9
A9
1,8
2,93,10
19
A9
18
A9
8
A10
5
A10
19
A9
1A10
1A10
2
A102
A10
3
A10
3
A10
4
A109
A106,7A10
5A
A11
M1
DW2
EX1
EX4
EX3
DW1
M16
M15
M16 M16 M16 M15
M16 M17
EX4
EX1
EX4
M1 M1 M1 M1 M1 M1 M1 M1
DW1
M1
DW2
EX3
M1M1M1
M15
M16 M17 M16
M1
DW2
M15
EX4
EX3
DW1
M16
EX1
M15
M16 M17 M16
M15
EX1
M16
A11
A111
2
1,4A12.4
2,5A12.4
3,6A12.4
M27
M27
M27
P A C I F I C
A R C H I T E C T S
1117 Coast Village Road
Montecito, CA. 93108
8 0 5 . 5 6 5 . 3 6 4 0
All ideas, designs and plans indicated
or represented by these drawings are
owned by and are the property of
Pacific Architects and were created
and developed for use in connection
with the specified project. None of
such ideas, designs, or plans shall be
used for any purpose whatsoever
without the written permission of
Pacific Architects
Revision Description Date
Job Number
Date:1/13/03
Sheet of
CountryCrossroads
480AVE.OFTHEFLAGS
A6
2CLIENT
CHG'S.6/18/03
4VALUE
ENGINEERING8/11/03
E
TA
TS
AIN
R
OFILACFO
LI C
E
NSEDARCHIT
ECT
W
S.MAILLI
W
OLF
C-20857
RENEWAL
DATE
9-16-2004
A
B
A8
C
A8
A8
B
A8
10'-0"
9'-0"
T.P.
F.F.
F.F.
T.P.
9'-0"
10'-0"
T.P.
F.F.
F.F.
T.P.
9'-0"
10'-0"
T.P.
F.F.
F.F.
T.P.
8'-0"
WDW.HEADHEIGHT
7'-0"
WDW.HEADHEIGHT
8'-0"
7'-0"
WDW.HEADHEIGHT
WDW.HEADHEIGHT
25'-9"
MEANHEIGHT
BUILDINGHEIGHT
F.F.ELEV.358.62'
F.F.ELEV.370.35'
F.F.ELEV.370.35'
F.F.ELEV.358.62'
F.F.ELEV.370.35'
F.F.ELEV.358.62'
SOUTHELEVATION1/8"=1'-0"
1/8"=1'-0"
NORTHELEVATION
WESTELEVATION1/8"=1'-0"
•REFERTOSHEET'A1'FORKEYNOTES
•REFERTOSHEET'A1'FORKEYNOTES
•REFERTOSHEET'A1'FORKEYNOTES
2
4
4
4
19
A9
1,8
A92,9
A9
3,10
A9
1,8
A92,9
A9
3,10
A9
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Redevelopment Specifics
Parking — 72 Spaces
Ground Floor Commercial — 9 Units (8,257 SF Total)
Ground Floor Residential — 6 Units
Second Floor Residential — 16 Units
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
interior photos
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Property Property Type Size Sale Price Price/SF or PPU Sold Date
415 5th St., Solvang Multifamily 7 Units $1,150,000 $164,286/Unit 6/1/2016
1677 Maple Ave., Solvang Multifamily 24 Units $2,710,000 $112,917/Unit 2/26/2016
593–597 Avenue of the FlagsBuellton
Multifamily 10 Units $3,575,000 $357,500/Unit 5/21/2015
363 Palm Way, Buellton Multifamily 22 Units $2,950,000 $134,091/Unit 8/21/2014
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4 480 Avenue Of The Flags
comparable multifamily sales
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Property Property Type Size Sale Price Price/SF Land Sold Date
Purchased by City of Buellton Land 11,325 SF $290,000 $26/SF 4/14/2017
495 Avenue of the Flags (On Market) Land 6,098 SF $399,000 $65/SF On Market
518 Avenue of the Flags Land 53,143 SF $1,200,000 $23/SF 1/19/2017
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3
Subject Properties
1
2
comparable land sales
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.
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Calculations
Current Market
EOI: $187,072 $232,054
Annual Exp.: $96,892 $96,892
NOI: $90,180 $135,162
GRM: 13.23 10.67
CAP Rate: 3.64% 5.46% Annual Expenses (2016 Actuals Except Taxes & Automotive Expenses)Current Current % GOI Market % GOI
Real Estate Taxes (1.10%): $27,225 14.6% 11.7%Commission & Fees: $2 0.0% 0.0%
Insurance: $1,533 0.8% 0.7%Insurance - Liability: $5,211 2.8% 2.2%
Legal & Professional Fees: $1,100 0.6% 0.5%Management/Leasing Fees: $13,297 7.1% 5.7%
Repair and Maintenance: $9,984 5.3% 4.3%Electric: $14,595 7.8% 6.3%
Gas: $3,547 1.9% 1.5%Refuse: $5,116 2.7% 2.2%
Water/Sewer: $15,282 8.2% 6.6%Annual Expenses Per Unit $4,404
Annual Expenses $96,892 51.8% 41.8%
Unit Mix & Rent SchedulesUnit Mix Est. SF Current Montly Income Proforma Monthly Income
1 Studio $825 $9002 Studio $800 $9003 Studio $900 $9004 Studio $875 $9005 Studio $850 $9006 Studio $750 $900
7 / 8 Studiox2 $950 $1,80010 Studio $700 $90011 Studio $700 $90012 Studio $750 $90014 Studio $650 $90015 Studio $650 $900
16 / 21 Studiox2 $1,000 $1,80017 Studio $700 $90018 Studio $900 $900
19 (Vacant) Studio $900 $90020 Studio $700 $90022 Studio $675 $90023 Studio $800 $900
24 / 25 (Manager) Studiox2 $500 $500
Monthly Rental Income: $15,575 $19,400Monthly Laundry Income: $333 $333
Potential Gross Monthly Income: $15,908 $19,733Potential Gross Annual Income: $190,890 $236,790
Less: Vacancy & Collection Loss: 2% $3,818 $4,736Effective Gross Economic Income: $187,072 $232,054
Executive Summary
# Units: 22
Price: $2,475,000
Price/Unit: $112,500/Unit
NOI: $90,180
GRM: 13.23
CAP Rate: 3.64%
Lot Size: 43,995 SF
Price/Lot SF: $56/SF
Building Size:
Zoning:
APN: 137-170-042
Year Built: 2008
income analysis
*Note: All utilties are master metered.
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Market OverviewThe Santa Ynez Valley: Golden Vineyard CountryThe great wide open countryside of the Santa Ynez Valley is located 30 minutes north of Santa Barbara
and nestled between the Santa Ynez and Santa Rafael Mountains. Numerous world-renowned wineries
and vineyards dot the landscape as well as horse and cattle ranches. In fact, the valley is recognized as the
epicenter of California’s multi-billion dollar equine industry. Other attractions include the Los Padres National
Forest, Lake Cachuma, Old Mission Santa Inez, golf courses and the Santa Ynez Valley Historical Museum &
Parks-Janeway Carriage House displaying old stagecoach relics from the valley’s past. Six small towns are
home to the region and include Ballard, the smallest and oldest community, Solvang, a charming Danish-
American hamlet, the rapidly growing Buellton, the vintage chic community of Los Alamos, the laid-back wine
tasting haven of Los Olivos, and the turn-of-the-20th-Century township of Santa Ynez.
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Market OverviewCity of Buellton Merchants Map
Firestone Walker Brewing Company
76 Gas Station
Quality Inn Santa Ynez Valley
Tonio’s Restaurant
Standing Sun Wines
Santa Ynez Valley Marriott
Ken Brown Wines
El Sitio Mexican Restaurant
Gino’s Pizza
Mother Hubbard’s American Restaurant
Pea Soup Andersen’s Restaurant & Inn
Parks Plaza Theatre
Ellen’s Danish Pancake House
Shell Gas Station
Sideways Inn
Starbucks
Figueroa Mtn. Brewery
Terravant Wine Co.
Industrial Eats
New Apartments
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2nd St.Aven
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Indu
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Highway 246
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Hig
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Subject Property
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Market OverviewCity of Buellton Avenue of the Flags Potential Design Plan
The City of Buellton is considering an approximate $23 Million project focused on Avenue of the Flags.
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Market OverviewCity of Buellton Avenue of the Flags Potential Design Plan
Median 2 – Event Barn
Merchant ClusterMedian 3 – Amphitheater Design Concept
for sale � 22 unit apartment building + undeveloped land4 8 0 av e n u e o f t h e f l ag s | b u e l lto n , c a 93 4 2 7
Gene [email protected] Lic. 01450943
Marc [email protected] CA Lic. 01968089
9.28.17 r a d i u s c o m m e r c i a l r e a l e s t a t e & i n v e s t m e n t s | 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 m
Co-Presented By
Market OverviewCity of Buellton Avenue of the Flags Potential Design Plan
SUBJECTPROPERTY
PROPOSEDMERCHANTCLUSTER
PROPOSEDEVENT BARN
PROPOSEDAMPHITHEATER