1323 De La Vina Street, SANTA BARBARA, CA 93101
$5,200,000
Property Type:
Commercial Sale
Square Footage:
3,815
Lot Size (sq. ft.):
13,068
Status:
Closed
Current Price:
$5,200,000
List Date:
2/18/2023
Last Modified:
9/17/2024
Description
Rare hospitality offering by downtown! Ultra-charming and authentic Victorian-style Inn, reinvigorated post-pandemic, is now for sale as a package of real estate and thriving cash-flow business (7% cap rate), including wine/beer/catering license. The 0.30-acre property enjoys the highest-value C-G zoning, allowing for profitable uses now and for future underlying investment value. The elegant styling provides guests gilded relaxation, with 8 deluxe suites incl. 2 separate-entry suites on ground level and penthouse suite w/large view deck. Gorgeous private gardens are ideal for small events, providing additional revenue streams. Group ''buyouts'' are common, with further income upside from new catering license, etc. Video in Photos (play with sound on), Offering Memorandum in Documents.
More Information MLS# 23-450
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: O12
Cross Street: Sola
District: 20 - SB/WEST OF STATE
Street #: 1323
Street Name: De La Vina
Street Suffix: Street
State: CA
Postal Code: 93101
County: Santa Barbara
Parcel Number: 039-121-009
Contract Info
Financing: Fixed
Buyers Agent $/%: 2.5
Current Price: $5,200,000
Price: 5880000
Begin Date: 2023-02-17
Status: Closed
Property Information
For Sale/Lease: For Sale
Year Built: 1898
#Offices: 0
Apx Lot SqFt: 13068
Apx # Acres: 0.3
TYP: Business
Total SqFt.: 3815
Owner Info
Deposit: 3
Remarks
COVID Showing Remarks: Follow Covid guidelines, do not enter premises if sick.
Hot Sheet Comment: new
Directions: On De La Vina Street between Victoria and Sola.
Condition
Excellent: 1
Good: 1
Business Info
# Pk/1000: 2
Sales/Lse BK: Sale
Doing Business As: De La Vina Inn
Income/Expenses
Annual Gross Income: 751895
Vac Factor: 35%
Effect Gross: 652859
NOI: 413106
Util Exp: 30236
Ins Exp: 9000
Advert Exp: 26250
Taxes Exp: 56100
Maint Exp: 24004
Payroll Exp: 51652
Janitorial Exp: 48761
Total Ann Exp: 239753
Heating
GFA: 1
Cooling
A/C Window: 1
Use
Other: 1
Zoning
C-2: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Business Type
Bus Other: 1
Parking
Uncovrd: 1
Contingent Remarks
HOME INSPECTN: 1
OTHER: 1
Real Estates Incl
Yes: 1
Reports
Roof: 1
Other: 1
1031 Exchange
Poss: 1
Status Change Info
Sold Date: 2023-07-11
Sold Price: $5,200,000
Under Contract Date: 2023-04-28
Property Features
Use: Other
Business Type: Bus Other
Zoning: C-2
Condition: Excellent; Good
Parking: Uncovrd
Cooling: A/C Window
Heating: GFA
Real Estates Incl: Yes
Reports: Roof; Other
1031 Exchange: Poss
Terms: Cash; Conventional
Listing Type: ER
Contingent Remarks: HOME INSPECTN; OTHER
Documents
Floorplan ›
Offering Memorandum ›
Listing Office:
Berkshire Hathaway HomeServices California Properties
Last Updated: September - 17 - 2024
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