1502 San Pascual St Santa Barbara, CA

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Home For Sale In Santa Barbara, California

Price: $16,500,000
Address: 1502 San Pascual St
City: Santa Barbara
State: CA
Zip:
Amenities: Parking
Fee: No
Provided By: RealtyWW

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.For more details: https://realtyww.info/homes_santa-barbara-d528428/for-sale_i70538250

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