1502 San Pascual Street, SANTA BARBARA, CA 93101
$15,000,000
Property Type:
Res Inc
Lot Size (sq. ft.):
43,560
Status:
Closed
Current Price:
$15,000,000
List Date:
9/06/2024
Last Modified:
1/01/2025
Description
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.
More Information MLS# 24-571
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: N12
Cross Street: W Micheltorena St
District: 20 - SB/WEST OF STATE
Street #: 1502
Street Name: San Pascual
Street Suffix: Street
State: CA
Postal Code: 93101
County: Santa Barbara
Parcel Number: 043-252-015
Property Information
Year Built: 1972
Apx # Acres: 1
Recurring Fees: No
Number of Units: 45
Neighborhood/Schools
Elementary School: Harding
Junior High School: LaCumbre
High School: San Marcos
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: price
Condition
Good: 1
Miscellaneous
Parking Spaces: 54
Proximity
Near Bus: 1
Near Park(s): 1
Near School(s): 1
Near Shopping: 1
Laundry
Laundry Room: 1
Amenities
Deck: 1
Patio: 1
Cable TV: 1
Gas Stove: 1
Ovens/Bltin: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Fncd Back: 1
Fncd Prt: 1
Unit 1
# Units: 45
# Bedrooms: 79
# Baths: 45
# Half Baths: 0
Furnished: N
Rent: 90973
Monthly Total: 90973
Income/Expenses
Total Monthly Income: 90973
Annual Income: 1091670
NOI: 802167
Zoning
R-4: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Parking Info
Carport: 1
Outside: 1
Total # Carport Spaces: 24
Total # Unconvered Spaces: 30
Flr/Wdw Coverings
Carpet: 1
Vinyl: 1
Contract Info
Current Price: $15,000,000
Price: 15900000
Begin Date: 2024-02-23
Status: Closed
Status Information
Sold Date: 2024-12-31
Sold Price: $15,000,000
Under Contract Date: 2024-09-06
Property Features
Condition: Good
Parking Info: Carport; Carport; Outside
Proximity: Near Bus; Near Park(s); Near School(s); Near Shopping
Laundry: Laundry Room
Amenities: Deck; Patio; Gas Stove; Ovens/Bltin; Dishwasher; Disposal; Microwave; Refrigerator; Cable TV; Fncd Back; Fncd Prt
Zoning: R-4
Terms: Cash; Conventional
Listing Type: ER
Documents
NHD ›
Plot Map ›
Listing Office:
Compass
Last Updated: January - 01 - 2025
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