Co-Presented By

11.14.17 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

Specific Plan Approved—October 26, 2017

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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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

*Property is located in a flood zone.

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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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

EXIT

EXIT

EXIT

EXIT

EXIT

EXIT EXIT

EXIT EXIT

EXIT

EXIT

EXIT EXIT EXIT EXIT EXIT EXIT

EXIT EXIT EXIT

EXIT

2%

2%2

.8%

4.7%

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.

DW.

DBL.SINKW/DISP.

HOODW/FAN&LIGHT

RANGE

WH

BEDROOM2

BEDROOM1

LIVING

DINING

KITCHEN BATH

2BEDROOMUNIT23=958S.F. S

&P

S&PDBL.SINK

W/DISP.

HOODW/FAN& LIGHT

RANGE

DW.

REF.

WH

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

WH

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

356

354

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

57

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

50

51

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

38

39

40

41

42

43

44

45

62

63

64

65

66

67

68

69

70

71

33

34

35

36

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

HWY.

BALLARDCYN.RD.

HILLRD.

CHALK

BALLARDCYN. RD.

ALAMOPINTADORD.

McMURRAY

RD.

TOSANTAMARIA

TOSANTABARBARA

AVEOFTHEFLAGS

A14

3

A14

3

A2

1

A2

1

A14

1

A14

4

A14

2

A14

2

A12.3

1

A2

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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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

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

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

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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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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

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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

APN: 137-170-042

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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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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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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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 Deering805.879.9623gdeering@radiusgroup.comCA Lic. 01450943

Marc Baxis805.770.0011marc.baxis@camoves.com CA Lic. 01968089

11.14.17 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