1502 San Pascual Street Santa Barbara, CA 93101
Listing Courtesy of: Santa Barbara Association Of Realtors / Compass

  1502 San Pascual Street Santa Barbara, CA 93101

Pending (356 Days)
$15,900,000

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.

MLS #:
24-571
Lot Size
1 acres
Type
Multifamily
Year Built
1972
County
Santa Barbara County

Listed By

20/Twenty Group, Compass
Source
Santa Barbara Association Of Realtors
Last checked Sep 8 2024 at 1:40 AM GMT+0000
Bathroom Details
Interior Features
  • Laundry: Laundry Room
Lot Information
  • Near Public Transit
Flooring
  • Carpet
  • Vinyl
School Information
  • Elementary School: Harding
  • Middle School: Lacumbre
  • High School: San Marcos
Parking
  • Uncovered
  • Carport
Location
   
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Listing Price History

Date
Event
Price
% Change
$ (+/-)
Apr 12, 2024
Price Changed
$15,900,000
-4%
-600,000
Feb 23, 2024
Original Price
$16,500,000
-
-

Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

Listing price
Down payment
%
Interest rate
%
Mortgage calculator estimates are provided by Windermere Real Estate and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.
Disclaimer: Copyright 2024 Santa Barbara Association of Realtors. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 9/7/24 18:40