1621 Grand Ave - Assisted Livings FOR SALE


Santa Barbara, CA 93103- Lower Riviera
$6,250,000 USD
805-879-9605
1621 Grand Ave, Santa Barbara, CA for Sale
$6,250,000 USD
Assisted Livings - FOR SALE
1/28
null | Request Cap Rate

1621 Grand Ave
Santa Barbara, CA 93103
Lower Riviera


HIGHLIGHTS

  • Located on Santa Barbara's iconic Riviera overlooking the ocean
  • Features 20 Congregate Care + 2BD/2BA Penthouse Apartment
  • 11 Parking Spaces on Adjacent Parcel Per Easement. 2-Car Garage For Third Floor Apartment.
  • Includes large underutilized outdoor area

OVERVIEW

Located in the prestigious Riviera neighborhood, with entrances off Arrellaga St. and Grand Avenue, this property was originally part of the historic St. Francis Hospital site. In 1992, the building was transformed into a senior care facility. The building includes a spacious penthouse apartment with stunning views and a private two-car garage. Most of the facility's operations were situated on the first floor, featuring large common areas, a commercial kitchen, a laundry room, and a beauty shop. In front of the building is a sizable outdoor area, currently underutilized, offering potential for further development. Parking for the facility is available on an adjacent parcel, secured through an easement with access from Arrellaga Street. The penthouse apartment's two-car garage has separate access via Grand Avenue.

FOR SALE DETAILS

PRICE

$6,250,000 USD

PRICE/SF

$373 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Villa Riviera

PROPERTY TYPE

Health Care

PROPERTY SUBTYPE

Assisted Livings

ADD'L SUBTYPES

Congregate Senior Housing

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

6.86 AC

LAND SF

298,821 SF

ZONING

R-M

APN/PARCEL ID

027-270-036

ASK ABOUT THIS PROPERTY

Bob TulerRadius Commercial Real EstateMore Info
805-879-9605

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Bob TulerRadius Commercial Real EstateMore Info
805-879-9605

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.