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Listed by John Persse, DRE #02113078 • Invest SLO
$9,800,000
Est. payment /mo
7,841 Sqft Lot
New
321 & 319 W MSN Santa Barbara, CA 93101
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPI26156378
Year Built 1928
Lot Size 7,841 Sqft
Property Sub-Type Duplex
Source California Regional MLS
Property Description
Rare opportunity to acquire an established 15-bed RCFE, operating business, and two adjacent properties near downtown Santa Barbara. Operating for more than 36 years, the business benefits from historically strong occupancy, limited vacancy downtime, experienced staff, and established referral relationships. Current annualized revenue is approximately $1.78 million, with approximately $640,000 in seller-reported normalized NOI, representing an indicated in-place yield of approximately 6.5% before expansion. The offering includes 321 W Mission Street, the operating care facility, and 319 W Mission Street, an adjacent four-bedroom, two-bathroom residence on a 9,147-square-foot R-MH-zoned lot. The second property provides residential and care-related flexibility, potential additional licensed capacity, ADU or multi-unit opportunities, and meaningful long-term development upside. Offered together at $9,800,000, this is a compelling opportunity for an owner-operator or investor seeking immediate cash flow, valuable Santa Barbara real estate, and clear pathways for growth in a highly desirable coastal market with significant barriers to entry. Separate sale structures may also be considered. Financial documentation is available to qualified buyers following execution of a confide
Location
State CA
County Santa Barbara
Area Vc81 - Santa Barbara
Interior
Heating Forced Air
Laundry In Laundry Room, Other, Stacked Only
Exterior
Garage Spaces 2.0
Pool None
View Local/Neighborhood
Building
Lot Description Grade - Level
Story One Story
Water District - Public
Others
Tax ID 025352003
Special Listing Condition Not Applicable
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