1215 De la Vina St
Santa Barbara, CA 93101
La Tierra · Office Property For Sale
Investment Highlights
- Rare office suite condominium opportunity in downtown Santa Barbara
- Seller financing provided with 20% down payment, interest-only @ 5% annual
- Open and airy avant-garde design with loft space and 20-foot ceilings, end unit with bright south- and west-facing windows
- Can work well for owner-user (was owner-user for 40+ years), and also calcs well for investor
- The favorable financing allows purchase with only $200K down payment; ideal for 1031 exchange remnant to place $200K of boot
- A++ location downtown in the professional services district and adjacent to dozens of restaurants, theaters, retail
Executive Summary
Rare spacious office condominium for sale in downtown Santa Barbara, California. Unique Owner’s Unit at “La Tierra” has been kept by the Association builder for their own use as a deluxe architect’s suite since being opened in 1982. Featuring soaring 2-story 20-foot ceilings, and an end-unit corner location with many light-filled south-facing and west-facing windows, this premier centrally-located 1805+/- measured square-foot multi-space suite (1680+/- SF net leaseable as measured), can work equally well for an owner-user or for a pure investor. Seller will provide 80% Seller-financing @ 5% annual interest rate for 10 years, making the economics even more attractive beyond the competitive price-per-square-foot offering price. Consider for a remnant of a 1031 exchange where there is a leftover $200K of boot to place, a perfect solution for the investor. Santa Barbara is a world-class small Southern California coastal community by the Pacific Ocean offering amazing climate, beauty, recreation and culture, and attracting wealthy entrepreneurs, retirees and tourists from all over the world. 1215 De La Vina is right in downtown Santa Barbara, in a professional services district popular for financial services, legal, medical office and architect/development/contractor offices. The location is within 1-5 blocks of dozens of restaurants, 3 major performing arts theaters, museums, the County Courthouse (for legal), and all kinds of retail, and is a little over one mile to Santa Barbara’s waterfront and beaches. Offering Memorandum attached here, or can be downloaded from www.SantaBarbaraOfficeCondo.com
Property Facts
Amenities
- High Ceilings
- Air Conditioning
