1323 De La Vina Street, SANTA BARBARA, CA 93101
$5,200,000
Property Type:
Comm/Ofc
Square Footage:
3,815
Lot Size (sq. ft.):
13,068
Status:
Closed
Current Price:
$5,200,000
List Date:
2/18/2023
Last Modified:
7/12/2023
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
District: 20 - SB/WEST OF STATE
Street #: 1323
Street Name: De La Vina
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 039-121-009
Cross Street: Sola
Contract Info
Current Price: $5,200,000
Price: 5880000
Financing: Fixed
Buyers Agent $/%: 2.5
Begin Date: 2023-02-17
Status: Closed
Property Information
TYP: Commercial
For Sale/Lease: For Sale
Year Built: 1898
Total SqFt.: 3815
Apx Lot SqFt: 13068
Apx # Acres: 0.3
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
Sold Price: $5,200,000
Under Contract Date: 2023-04-28
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
Property Features
Use: Other
Business Type: Bus Other
Zoning: C-2
Condition: Excellent; Good
Parking: Uncovrd
Heating/Cooling: GFA; A/C Window
Real Estates Incl: Yes
Reports: Roof; Other
1031 Exchange: Poss
Terms: Cash; Ctnl
Listing Type: ER
Contingent Remarks: HOME INSPECTN; OTHER
Documents
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: July - 12 - 2023
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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.