$15,000,000

1502 San Pascual Street, SANTA BARBARA CA, 93101

Price per sqftN/A

Built in1972

Property typeResidential

Courtesy of 20/Twenty Group, Compass

Overview

Sold

Closed

Listed Sep 6, 2024

Updated Jun 10

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.

Additional information

MLS^® ID: 24-571

Interior Features

Bedrooms: 79
Bathrooms: 45
Basement: No

Exterior Features

Lot Size: 1 Acre

Listed by Compass, 20/Twenty Group,
Listing Contact: [email protected]

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Data last updated 7:03 PM UTC, 6/10/2026