Phone888.995.7575

1210 Cacique Street, Santa Barbara, CA 93103

$7,000,000 Approx. USD 0 beds, 0 baths
5,000 sqft

Agent Remarks

Unique opportunity for effort-free real estate income. Fully occupied 69-unit mobile home park in the highly desirable city of Santa Barbara, California. Under existing operating agreement (which extends through 2027), park manager is responsible for 100% of operating expenses including property taxes. Property is 5.02 acres (218,671 s.f.) of level terrain zoned R-3 “LIMITED MULTIPLE-FAMILY RESIDENCE ZONE.” Site has an Average Unit-Size Density Incentive Program Overlay development density designation allowing for potential future redevelopment with apartments or condominiums at 15-27 units per acre. Redevelopment of some nearby parcels is already in progress. The site has frontage on two public streets and is currently served by all public infrastructure. This is a once in a lifetime chance to own 5 acres of prime Santa Barbara real estate; with a rental vacancy rate of less than 2 %! Full Offering Memorandum available upon completion of Confidentiality Agreement

Listing Details

Property type: MOB (Commercial)
Status: Active
MLS# WS16019546
List price is $7,000,000 Reduced by $3,000,000 on 6/24/2016
Beds: 0
Baths: 0
5,000 sqft
5.02 acres
Lot size: 218671.000
County: Santa Barbara
MLS area: VC81 - Santa Barbara

Last Updated: 11/9/2016

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This listing belongs to the VC81 - Santa Barbara MLS area

Lat/Long: 34.422455, -119.672310.
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Broker: Courtesy of COLDWELL BANKER/GEORGERLTY/ALH
Listing Agent: FRANK RAMIREZ
Co Listing Agent: RODNEY RUIZ

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Area Overview

Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

Community Characteristics:

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Hispanic/Non-Hispanic Population

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