Pending

1502 San Pascual Street

SANTA BARBARA CA, 93101

$15,900,000


Pending

79 Beds

45 Baths

Residential

Built in 1972

Courtesy of 20/Twenty Group, Compass

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.

24-571

MLS ID

September 6, 2024

Listed

October 1, 2024

Updated

Map

1502 San Pascual Street
SANTA BARBARA CA, 93101

Interior Features

Bedrooms

79


Total Bathrooms

45


Full Bathrooms

45


Laundry Description

Laundry Room


Floor Description

Vinyl, Carpet


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

1 Acre


Lot Features

Near Public Transit

School Information

High School

San Marcos


Elementary School

Harding

Other Property Details

Area Name

20 - SB/WEST OF STATE


Days on Market

179


Garage

No


Parking

Carport, Uncovered


Parking Total

54


View

No


County

Santa Barbara


Pool

No


Zoning

R-4

Listed by Compass, 20/Twenty Group,
Listing Contact: [email protected] 

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