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321- & 319 W Mission , Santa Barbara, CA 93101
$9,800,000
Est. Payment: $53,786.06/mo
13 Bed
6 Bath
0.18 Acres
Status: ACTIVE | Days on site: 85
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CR-Pi3420 - CR-pi02113078,CR-pi02062620
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Chris Heller
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House 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.
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Highlights

Listed by John Persse , 925-395-1959 and Abel Contreras , 805-709-7143 Invest SLO , 805-709-7143. San Diego County Multiple Listing Service mls logo

Property Type

Multi-Family
Lot/Acreage
0.18

County

Santa Barbara

 Neighborhood

Santa Barbara: Other (80)

Listing ID

PI26156378

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:13
  • ▪ Bathrooms:6

Exterior Features

Zoning:Public Rec
Principal Interest
$53,786
Taxes
$6,248

Home Price

$9,800,000

Loan Details

30 yrs
7.307%

Down Payment

20%
$1,960,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$53,786.06

Principal

Taxes

Principal Taxes HOA Total
Monthly $53,786.06 $6,247.50 $0.00 $60,033.56
Yearly $645,432.74 $74,970.00 $0.00 $720,402.74
Total $19,362,982.11 $2,249,100.00 $0.00 $21,612,082.11

Today's Rates

30 Year

7.31%

20 Year

7.2%

15 Year

6.65%

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Market insight data is pulled from the same city as the listing being viewed (Santa Barbara, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

The data relating to real estate for sale on this web site comes in part from the San Diego MLS, Inc.. Real estate listings held by brokerage firms other than Heller Real Estate Group | eXp Realty of Southern California | PLACE are marked with the IDX logo. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, noncommercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2026 San Diego MLS.

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Data last updated: 2026-10-03T19:51:54.000Z

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