$15,000,000
SOLD DEC 31, 2024

1502 San Pascual St Santa Barbara, CA 93101

Westside Neighborhood
-- Bed
-- Bath
-- Sq Ft
1 Acres

Recently Sold

9% Below List Price

194 Days on Market

Highlights

  • 1 Acre Lot
  • Deck
  • Patio
  • San Marcos Senior High School Rated A
  • Property is near a park
  • Laundry Room

About This Home

As of December 2024

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.

Last Agent to Sell the Property

20/Twenty Group

Compass License #01968703 / 02067856 / 02057028 / 01991628 / 01946357

Compass

Co-Listed By

Jim Turner

JT Real Estate Group License #00970829

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 1 Acre Lot
  • Back Yard Fenced
  • Property is in good condition

Kitchen

  • Built-In Oven
  • Stove
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Vinyl

Parking

  • 30 Open Parking Spaces
  • 54 Parking Spaces
  • 24 Carport Spaces

Outdoor Features

  • Deck
  • Patio

Location

  • Property is near a park
  • Property is near public transit
  • Property is near schools
  • Property is near shops
  • Property is near a bus stop

Schools

  • Harding Elementary School
  • Lacumbre Middle School
  • San Marcos High School

Additional Features

  • Laundry Room
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 043-252-015

Community Details

Overview

  • 45 Units

Building Details

  • Gross Income $1,091,670
  • Net Operating Income $802,167

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1972
  • Income Expenses Annual Income: 1091670.0
  • Monthly Income: 90973.0
  • Miscellaneous Parking Spaces: 54.0
  • ResoLaundryFeatures: Laundry Room
  • ResoLotFeatures: Near Public Transit
  • Co List Office Mls Id: JTREGR
  • Co List Office Phone: 805-724-0557
  • Reso Flooring: Vinyl, Carpet
  • New Construction: No
  • Reso Property Condition: Good
  • Property Information Year Built2: 1972
  • Property Information Apx # Acres: 1.0
  • NeighborhoodSchools Elementary School: Harding
  • NeighborhoodSchools Junior High School: LaCumbre
  • NeighborhoodSchools High School: San Marcos
  • Parking Info Carport2: Yes
  • Parking Info Uncovered: Yes
  • Parking Info Total # Carport Spaces2: 24.0
  • Parking Info Total # Unconvered Spaces: 30.0
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Laundry Laundry Room2: Yes
  • Proximity Near Shopping2: Yes
  • Condition Good2: Yes
  • Proximity Near Bus: Yes
  • FlrWdw Coverings Carpet: Yes
  • Amenities Deck2: Yes
  • Amenities Gas Stove2: Yes
  • Amenities Dishwasher2: Yes
  • Amenities Disposal2: Yes
  • Amenities Microwave2: Yes
  • Amenities Fncd Back: Yes
  • Amenities Patio2: Yes
  • FlrWdw Coverings Vinyl2: Yes
  • Amenities OvensBltin: Yes
  • Amenities Fncd Prt: Yes
  • IncomeExpenses NOI2: 802167
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Acres: 1.0

Garage/Parking

  • Open Parking Spaces: 30.0
  • Parking Features: Carport, Uncovered
  • Total Parking Spaces: 54.0

Association/Amenities

  • Association Amenities:Cable TV: Yes

Schools

  • Elementary School: Harding
  • High School: San Marcos
  • Middle Or Junior School: LaCumbre

Lot Info

  • Parcel #: 043-252-015
  • Zoning: R-4
  • Lot Size Sq Ft: 43560.0
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 45
  • Annual Gross Income: 1091670.0
  • Total Actual Rent: 90973.0

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/31/2024 12/31/24 Sold $15,000,000 0.0% --
09/06/2024 09/06/24 Pending -- -- --
08/31/2024 08/31/24 Off Market $15,000,000 -- --
04/12/2024 04/12/24 Price Changed $15,900,000 -3.6% --
04/10/2024 04/10/24 For Sale $16,500,000 0.0% --
03/25/2024 03/25/24 Pending -- -- --
02/24/2024 02/24/24 For Sale $16,500,000 -- --
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 24-571

Santa Barbara Multiple Listing Service

California Santa Barbara County Santa Barbara 93101 Westside

1502 San Pascual St, Santa Barbara, CA

Homes for Sale in Santa Barbara, CA

This home is located at 1502 San Pascual St, Santa Barbara, CA 93101 and is currently priced at $15,000,000. This property was built in 1972. 1502 San Pascual St is a home located in Santa Barbara County with nearby schools including Adams Elementary School, La Cumbre Junior High School, and San Marcos Senior High School.

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