120 N La Cumbre Road Santa Barbara, CA 93110
DAUM Commercial Real Estate Services is pleased to present a rare opportunity to a acquire a leased-fee interest on approximately one acre of well-located, R-3 land with a ground lease, in beautiful Santa Barbara. A multi-family building is constructed on the parcel. The ground-lease term was 60 and expires in 2021. At lease expiration the apartment building reverts to the land owner--a copy of the lease will be provided to Buyer to verify the reversion language its satisfaction. Seller is selling the land and the lease. Please respect the privacy of the apartment building dwellers and lessee. The apartment complex is 48 units comprised of a mix of forty (40) one-bedroom and eight (8) two-bedroom units (buyer to verify the unit info during due diligence) The property is located less than a block from State Street, the main hub in Santa Barbara, with its boutiques and restaurants and is minutes away from beaches. IMPORTANT NOTE: Because this is a sale of land, not the structure at this point, much of the data on the structure: units, income, expenses, apt mix, etc. is estimated or given a placeholder number, because it is unknown at this point. Buyer will be given time in escrow to contact the apartment building manager for accurate data. Call Kerry Cole at the numbers provided for detailed explanation. Because the land lease is a method to eventually acquire the structure and rent, the listing is included in 'Residential Income' as well as 'Land' categories., 1 One block north of State Street and La Cumbre intersection.
Interior Features Include:No Information Available.
Exterior Features Include:
Acreage: 1.0000 Acres
Description Corner Lot
Square Feet 43560
Parking Spaces 0.00
Other Features Include:
Subdivision: Other (OTHR)
Inclusions: land and land lease only
Pool: Community Pool
Community Features Curbs
Total Expenses 1.00
Separate Gas Meters 48
The information being provided by CARETS (CLAW, CRMLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).
“Some Information may be provided by CRMLS, all rights reserved. Content is for the user's personal, non-commercial use and may not be used for any other purpose. Content is deemed accurate but not guaranteed.”