Active
1502 San Pascual Street
SANTA BARBARA CA, 93101
$15,900,000
Active
79 Beds
45 Baths
Residential
Built in 1972
Courtesy of 20/Twenty Group, Compass
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.
24-571
MLSⓇ ID
February 23, 2024
Listed
April 25, 2024
Updated
Map
1502 San Pascual Street
SANTA BARBARA CA, 93101
Interior Features
Bedrooms
79 Beds
Bathrooms
45 Baths
Laundry Description
Laundry Room
Floor Description
Vinyl, Carpet
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
1 Acre
Lot Features
Near Public Transit
School Information
High School
San Marcos
Elementary School
Harding
Other Property Details
Area Name
20 - SB/WEST OF STATE
Days on Market
48
Garage
No
Parking Total
54
View
No
County
Santa Barbara
Pool
No
Zoning
R-4
Buyer Agency Compensation
1.5%
Listing History
Date | Event | Price |
|---|---|---|
4/12/2024 | Price Change | $15,900,000 -4% |
4/10/2024 | Active | — |
3/25/2024 | Pending | — |
Listed by Compass, 20/Twenty Group,
Listing Contact: [email protected]
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Data last updated 12:11 AM UTC, 4/25/2024
