805-284-8471

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321 & 319 W Mission, Santa Barbara, CA 93101

$9,800,000 Approx. USD 0 beds, 0 baths

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Photo of Hristo Hristov

Marketed By Hristo Hristov, G.R.I., SFR, GREEN, FTBS REALTOR® - Sales Associate 805-284-8471 m
Lic#: 01978598
NRDS ID: 199506356
HHristov@bhhscal.com Santa Barbara Office
3868 State St
Santa Barbara, CA 93105
Phone: 805-687-2666
Fax: 805-563-0053

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Listing Agent

John Persse | john@investslo.com
Lic#: 02113078
Broker: Courtesy of Invest SLO
Phone: 805-709-7143

Co Listing Agent

Abel Contreras | abel@investslo.com
Lic#: 02062620
Broker: Courtesy of Invest SLO

Agent Remarks

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.

Listing Details

Property type: Single Family Residence (Multi-Family)

Status: Active

MLS# PI26156378

Price: $9,800,000

HOA Fee is $0.00

Beds: 0

Baths: 0

Living Room fireplaces

Built in 1928

1 story

0.18 acres

Lot size: 0.1800

Subdivision: Santa Barbara: Other (80)

County: Santa Barbara

Interior features: Ceiling Fan(s),Recessed Lighting,Tile Counters,Bedroom on Main Level

Exterior features: Rain Gutters

Lot description: Back Yard,Front Yard,Level,Rectangular Lot,Street Level

Heating description: Forced Air

MLS area: VC81 - Santa Barbara

Last Updated: 7/18/2026

Days On Market (DOM): 2

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This listing belongs to the VC81 - Santa Barbara MLS area

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Lat/Long: 34.426748, -119.718359.
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Previous Listing

Photo of Hristo Hristov

Hristo Hristov, G.R.I., SFR, GREEN, FTBS REALTOR® - Sales Associate 805-284-8471 m
Lic#: 01978598
NRDS ID: 199506356
HHristov@bhhscal.com
Santa Barbara Office
3868 State St
Santa Barbara, CA 93105