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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
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: July - 12 - 2023
1323 De La Vina Street, SANTA BARBARA, CA 93101- MLS# 23-450
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.

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