3885 and 3887 State St., Santa Barbara CA For Sale

Extraordinary re-development/investment opportunity! Purchase motel and income-producing office building on 1.49 acres of prime upper State St C 2 "Mixed Use" real estate. City approved plans for 30 upscale Residential loft condos + commercial. New "Density Overlay" Ordinance creates possibilities to build 90+ apartments. Also ideal for expanding into luxury hotel, retail store or business complex. Steps away from La Cumbre Plaza and Five Points Shopping Center in "high density" area.

Friday, October 19, 2012

Asking Price: $8,250,000

3885 and 3887 State St Motel and Office Building

48 Unit Office Building with mountain views

Back of "L-shaped Office" and huge extra parking lot

12 Room Plaza Inn Motel + Manager's Apt. & Office

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13 room Motel on left; 48 Unit office building on right; huge parking lot in back

A Church borders south end of property: Galleria parking is to the North

3885 State St Santa Barbara Proposed Mixed Use Project

Approved Plans for Proposed Mixed-Use 30 Unit Residential Loft + Commercial Project

Presented by Marian Fuentes (805) 452-2137
and Amy Katz, M.A., (805) 428-9252
of Sterling Properties, Santa Barbara CA

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