321 Mission, Santa Barbara, CA 93101

Santa Barbara
Local realty services provided by:ERA North Orange County Real Estate
321 Mission,Santa Barbara, CA 93101
$9,800,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: john persse
Office: invest slo
MLS#:PI26156378
Source:MLSListings

Price summary

  • Price:$9,800,000

About this home

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...

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Home facts

  • Year built:1928
  • Listing ID #:PI26156378
  • Added:50 day(s) ago
  • Updated:September 07, 2026 at 04:31 PM

Heating and cooling

  • Heating:Central Forced Air

Structure and exterior

  • Year built:1928
  • Lot area:0.18 Acres
  • Lot Features:Level
  • Levels:1 Story

Utilities

  • Water:District - Public

Finances and disclosures

  • Price:$9,800,000

Features and amenities

  • Laundry features:In Laundry Room, Stacked Only
  • Amenities:Ceiling Fan(s)
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