28-Unit Multifamily
5615 Carpinteria Ave Carpinteria, CA 93013
For Sale
Contact for pricing
Stabilized 28-unit multifamily asset with studio-heavy mix and a comprehensive 2016 renovation.
Property Size10,150 SF
Price / SF$665.02
Days on Market49
Property Features for 5615 Carpinteria Ave
General Information
- Standard status
- Active
- Size
- 10,150 SF
- Property subtype
- Multifamily
Listing Agency:
Radius Commercial Real Estate & Investments
(805) 965-5500
Listed By:
Gene Deering · License #CA 01450943
Source:
Crexi
Added: Jun 5
Changed: Jul 22
Last Checked: Jul 22 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Radius Commercial Real Estate & Investments
Investment Insights
Based on property information with market context.
This stabilized 28-unit multifamily property features an efficient unit mix of 26 studios, one one-bedroom, and one two-bedroom. A comprehensive renovation in 2016 is documented in the remarks, supporting a turnkey presentation and helping minimize deferred maintenance concerns.
The property is located along Carpinteria Avenue and is described as offering convenient access to major employment hubs and regional transportation corridors, including nearby Santa Barbara.
Positioned within the Carpinteria area described in the remarks, the asset is also characterized as being near the Carpinteria Industrial Park and within an employment-focused environment tied to technology and advanced manufacturing firms.
The property is located along Carpinteria Avenue and is described as offering convenient access to major employment hubs and regional transportation corridors, including nearby Santa Barbara.
Positioned within the Carpinteria area described in the remarks, the asset is also characterized as being near the Carpinteria Industrial Park and within an employment-focused environment tied to technology and advanced manufacturing firms.
Key Highlights
- Stabilized 28‑unit multifamily property with a studio‑heavy unit mix: 26 studios, 1 one‑bedroom, and 1 two‑bedroom
- Comprehensive renovation completed in 2016
- Located along Carpinteria Avenue at 5615 Carpinteria Ave
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $377.6k | $37.20 |
| − Vacancy | −$12.5k | −$1.23 |
| EGI | $365.1k | $35.97 |
| − OpEx | −$164.3k | −$16.19 |
| NOI | $200.8k | $19.78 |
10,150 SF · lease $37.20/SF/yr · vacancy 3.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.87M
$2.51M – $3.35M
NOI $200,816 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.19M
$2.79M – $3.72M
NOI $222,997 @ 7.0% cap · market cap 3.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Stabilized 28-unit multifamily asset with studio-heavy mix and a comprehensive 2016 renovation.
Where is this apartment building located?
The property is located at 5615 Carpinteria Ave Carpinteria, CA.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Stabilized 28‑unit multifamily property with a studio‑heavy unit mix: 26 studios, 1 one‑bedroom, and 1 two‑bedroom; Comprehensive renovation completed in 2016; Located along Carpinteria Avenue at 5615 Carpinteria Ave
