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Business

Downtown Carpinteria Residential Property Sold to Local Investors

A pair of local investors have purchased 764 and 784 Maple St., located on the corner of Maple and Eighth streets in downtown Carpinteria.

The property consists of two houses on a 10,454-square-foot lot. Dan Moll and Christos Celmayster of Hayes Commercial Group represented the seller in the transaction.

The property attracted numerous offers and sold for $1.3 million, which was 20 percent above the asking price.

The buyers are Carpinteria natives who aim to improve their hometown by renovating older residential properties in need of upgrades.

“It’s good to see the property remain in local hands with a personal investment in the community,” Moll said.

This represents the second sale of the year on Maple Street for Moll, who represented all parties in the $5 million sale of 500 to 550 Maple St. in July.

The property’s location — one block from Linden Avenue on Eighth Street — is its greatest selling point.

“The advantage of a property in such a central location is that the owner has options,” Celmayster said. “Although the property is generating income as is, there is substantial potential for improvement which the new owners intend to pursue.”

— Ted Hoagland is the marketing director for Hayes Commercial Group.

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