1502 San Pascual Street, Santa Barbara, CA 93101 $15,900,000

Status: Active    MLS# 24-571

main property image

To view these photos in a slideshow format, simply click on one of the above images.

Property Description

Turner Foundation (Non-Profit) owned property, currently providing 45 units of housing and 54 parking spaces with Community Learning Center, Programs and Services on site. Gross income $1.1m per year and current rent is 35% below market rate. Past Year NOI $802K with Non-Profit property tax exemption status equating to a 4.9% cap rate. New buyer may potentially retain Turner Foundation Non-Profit property tax exemption status if Turner Foundation remains as an Operating Partner. Buyer to verify all information.

Property Information
Property Details
MLS ID: #24-571
Current Price: $15,900,000 
Buyer Broker Compensation: 1.5%
Status: Active
Days on Market: 48
Address: 1502 San Pascual Street
City / Zip: Santa Barbara, CA 93101
Area / Neighborhood: Sb/West Of State
Year Built: 1972 
Acres: 1 
Proximity: Near Bus, Near Park(s), Near School(s), Near Shopping 
Schools
Elementary School: Harding
Jr. High School: LaCumbre
Sr. High School: San Marcos
Interior Features
Flooring: Carpet, Vinyl 
Laundry: Laundry Room 
Exterior Features
Misc.
Amenities: Cable TV, Deck, Dishwasher, Disposal, Fncd Back, Fncd Prt, Gas Stove, Microwave, Ovens/Bltin, Patio, Refrigerator 
Zoning: R-4 
Location

Listed with Compass