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 is 60 years dating back to 1961 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 mix during due diligence as there is a small discrepancy in the mix, but total 48 units.) 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., 1 Less than one block from the State Street and La Cumbre intersection
Interior Features Include:No Information Available.
Exterior Features Include:
Acreage: 1.0000 Acres
Description Lot Over 40000 Sqft
Square Feet 43560
Other Features Include:
Subdivision: Santa Barbara: Other (80)
Inclusions: land and land lease only
Community Features Sidewalks
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