1323 De La Vina Street, SANTA BARBARA, CA 93101 (MLS# 23-450)

Your search results

1323 De La Vina Street, SANTA BARBARA, CA 93101

$5,200,000

Somerset suite overlooking front gardens

"Nichole" suite overlooking rear gardens

Jacaranda tree in bloom in front gardens

Private label wine - many income streams

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

Overview

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.

Listing Details MLS# 23-450

Location Info

District: 20 - SB/WEST OF STATE
Street #: 1323
Street Name: De La Vina
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 039-121-009
Cross Street: Sola

Contract Info

Price: 5880000
Financing: Fixed
Buyers Agent $/%: 2.5
Begin Date: 2023-02-17

Property Information

TYP: Business
For Sale/Lease: For Sale
Year Built: 1898
Total SqFt.: 3815
Apx Lot SqFt: 13068
Apx # Acres: 0.3
#Offices: 0

Owner Info

Deposit: 3

Remarks

COVID Showing Remarks: Follow Covid guidelines, do not enter premises if sick.
Directions: On De La Vina Street between Victoria and Sola.
Hot Sheet Comment: new

Status Change Info

Sold Date: 2023-07-11
Under Contract Date: 2023-04-28

More Information

Business Info

# Pk/1000: 2
Sales/Lse BK: Sale
Doing Business As: De La Vina Inn

Condition

Excellent: Yes
Good: Yes

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: Yes

Cooling

A/C Window: Yes

Use

Other: Yes

Zoning

C-2: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Business Type

Bus Other: Yes

Parking

Uncovrd: Yes

Contingent Remarks

HOME INSPECTN: Yes
OTHER: Yes

Real Estates Incl

Yes: Yes

Reports

Roof: Yes
Other: Yes

1031 Exchange

Poss: Yes

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

The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.