321 & 319 W Mission, Santa Barbara, CA 93101
- $9,800,000
- List Price
- $9,800,000
- Status
- ACTIVE
- MLS#
- PI26156378
- Year Built
- 1928
- Lot Size
- 7,841
- Acres
- 0.18
- Lot Location
- Back Yard, Front Yard, Level, Rectangular Lot, Street Level
- Days on Market
- 10
- Property Type
- Single Family Residential
- Property Sub Type
- Single Family Residence
- Stories
- One Level
- Neighborhood
- Santa Barbara: Other (80)
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 confidentiality agreement.
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Additional Information
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Forced Air
- View
- Neighborhood
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Ceiling Fan(s), Recessed Lighting, Tile Counters, Bedroom on Main Level
- Attached Structure
- Detached
- Number Of Units Total
- 2
- Gross Scheduled Income
- $1,663,262
- Operating Expense
- 1212539
Listing courtesy of Listing Agent: John Persse (john@investslo.com) from Listing Office: Invest SLO.
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