3885 State Street, SANTA BARBARA, CA 93105 (MLS# 12-3480)

Your search results

3885 State Street, SANTA BARBARA, CA 93105

$3,800,000

Upper Level of Office Building at 3887 State St.

Lower Floor Plan of Existing Office Bldg

Map of Property and Surrounding Upper State St. Neighborhood

'Mirasol' Office Building 3887 State St. and side parking area.

The City of Santa Barbara has approved the plans submitted by the Berkus Design Studio for the construction of an exquisite, new, three-story mixed-use development project on this property. The commercial component consists of a 2,567 square foot unit. The residential component consists of thirty residential units (26 at market rate and 4 affordable units). The market rate component consists of 23 two-bedroom and 3 three-bedroom units. The affordable component consists of 3 two-bedroom units and 1 three-bedroom unit. A total of 78 parking spaces are proposed (62 covered and 16 uncovered.) On sight amenities include a 3,863 sq ft recreation facility, including an exercise room, sun room, spa/hot tub, dining room, staging kitchen, wine lockers, concierge service and a 545 square foot crafts room. The proposal also includes the voluntary merger of two parcels.

Drawings of Proposed Mixed Use Loft Condo Project

80+ Parking Spaces; lot extends to trees. Unlimited potential for development; rent spaces to local businesses/residents for extra money.

Mountain Views from Second Story of Office Building.

48 Unit Office Building and Side lot. Tenants on month to month leases. $300,000 gross Income.

Property Type: Commercial Sale Baths: 13 Square Footage: 4,990 Lot Size (sq. ft.): 62,331 Status: Closed

Current Price: $3,800,000 List Date: 11/09/2012 Last Modified: 9/16/2024

Overview

Description

Extraordinary opportunity to purchase 1.49 acres commercial C2 mixed use property on Upper State St. Vacant 12 room motel + apt and 48 unit income-producing office building + huge 80 space parking lot. Re-develop both lots into large hotel, or use approved plans to build condos. New SB Density Overlay Ord. gives potential to build 90+ apartments! Transfer Development Rights can be sold for big

Supplements: 3885 and 3887 State St. are being sold together. 3885 State has a 12 room +apt/office that is vacant. 3887 State is currently rented at approx. 80% capacity, grossing $290,000 per year: all tenets are on month-to-month leases and paying under market rates: projected income, based on comparable space rental in area, is 25% greater. A modest estim ... (Read more)

Listing Details MLS# 12-3480

Location Info

District: 20 - SB/WEST OF STATE
Street #: 3885
Street Name: State
Street Suffix: Street
State: CA
Country: US
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: L11
County: Santa Barbara
Parcel Number: 051-022-012
Cross Street: La Cumbre Rd

Contract Info

Price: 4125000
Buyers Agent $/%: 2.25
Begin Date: 2012-11-09

Property Information

TYP: Business
For Sale/Lease: For Sale
Year Built: 1968
#Offices: 13
Total Bathrooms: 13
Gross Sq Ft: 62331
Total SqFt.: 4990
Apx Lot SqFt: 62331
Apx # Acres: 1.49

Assessor's Data

Assessor Lot Acres: 0.33
Assessor SqFt: 0

Owner Info

Deposit: 3

Remarks

Directions: From 101, exit at La Cumbre. Right on State St. Property comes up quickly on the right: Turn into motel property just before ''Plaza Inn'' sign.
Hot Sheet Comment: price

More Information

Status Change Info

Sold Date: 2014-01-23
Under Contract Date: 2013-09-12

Business Info

Sales/Lse BK: Sale
Current Use: motel- vacant
Lease Term: month-to-month
St. Signage: Yes

Condition

Poor: Yes

Amenities

Cable TV: Yes
Shr/Phone: Yes
Meter/Gas: Yes
Meter/Elec: Yes
Meter/Wtr: Yes

Heating

Wall: Yes

Use

Medical Office: Yes
Office: Yes
Retail/Commercial: Yes
Residential: Yes
Mixed Use: Yes
Other: Yes

Zoning

C-2: Yes

Terms

Cash: Yes

Listing Type

ER: Yes

Business Type

Service: Yes
Bus Other: Yes

Parking

Uncovrd: Yes
Pub/Lot: Yes

Loan

No: Yes

Contingent Remarks

CONTACT AGENT: Yes

Reports

Build Plans: Yes

Property Features

Business Info: St. Signage Use: Medical Office; Office; Retail/Commercial; Residential; Mixed Use; Other Business Type: Service; Bus Other Zoning: C-2 Condition: Poor Parking: Uncovrd; Pub/Lot Heating: Wall Amenities: Cable TV; Shr/Phone; Meter/Gas; Meter/Elec; Meter/Wtr Loan: No Reports: Build Plans Terms: Cash Listing Type: ER Contingent Remarks: CONTACT AGENT

Documents

Offering Memorandum ›

Listing Office: Sterling Properties

Last Updated: September - 16 - 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.