321 & 319 W Mission,Santa Barbara, CA 93101
Santa Barbara, CA 93101
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.
Details
| MLS # | PI26156378 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1928 |
| Days On Site | 46 |
| Listing Provided By | Invest SLO | John Persse |
Features
| SQ Feet | 5,620 |
|---|---|
| Garage | 2 |
| Story(s) | 1 |
| Units | 2 |
| Building(s) | 2 |
| Acreage | 0.18 |
| Property View | Yes |
Interior
| Heating | Forced Air |
|---|---|
| Heating Yes / No | Yes |
| Interior Features | Ceiling Fans, Recessed Lighting, Tile Counters, Bedroom On Main Level |
| Fireplace Yes / No | Yes |
Exterior
| Exterior Features | Rain Gutters |
|---|---|
| Lot Features | Back Yard, Front Yard, Level, Rectangular Lot, Street Level |
| Fencing | Wood |
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Utilities | Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
Location
| Community Features | Suburban |
|---|
Area Information
| State | CA |
|---|---|
| County | Santa Barbara |
| City | Santa Barbara |
| Zip Code | 93101 |
| Area | VC81 Santa Barbara |
| Community Name | Santa Barbara: Other (80) |
| Listing VS Median (in Santa Barbara: Other (80)) | |
Price: $9,800,000 low | high Med: $2,000,000 sqft: 5,620 low | high Med: 1,330 $ / sqft: $1,744 low | high Med: $1,504 On site: 46 low | high Med: 40 | |
Market Activity 93101
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Learn More About This Property
| State | CA |
|---|---|
| County | Santa Barbara |
| City | Santa Barbara |
| Zip Code | 93101 |
| Area | VC81 Santa Barbara |
| Community Name | Santa Barbara: Other (80) |
| Listing VS Median (in Santa Barbara: Other (80)) | |
Price: $9,800,000 low | high Med: $2,000,000 sqft: 5,620 low | high Med: 1,330 $ / sqft: $1,744 low | high Med: $1,504 On site: 46 low | high Med: 40 | |