1502 San Pascual Street, SANTA BARBARA, CA 93101

Turner Foundation (Non-Profit) owned property, currently providing 45 units of housing and 54 parking spaces with Community Learning Center, Programs and Services on site.  Gross income $1.1m per year and current rent is 35% below market rate.  Past Year NOI $802K with Non-Profit property tax exemption status equating to a 4.9% cap rate.  New buyer may potentially retain Turner Foundation Non-Profit property tax exemption status if Turner Foundation remains as an Operating Partner.  Buyer to verify all information.