440 Por La Mar Drive, Santa Barbara, CA 93103
- $8,700,000
- 7,006
- SqFt
- List Price
- $8,700,000
- Status
- ACTIVE
- MLS#
- 26-1303
- Living Area
- 7,006
- Lot Size
- 10,890
- Region
- SB/EAST OF STATE
- Year Built
- 1957
Property Description
This ultra-rare waterfront-area 8-unit multi-family offering is just a few steps to Santa Barbara's best beach East Beach, and has been recently re-positioned for higher investor return potential. The property now has an investor-friendly 6 of 8 units under landlord control, almost impossible to find today. The apartments are all large 2-bed/1-bath, and at ~860sf each, big enough to support a 2nd bath addition for high-end luxury conversion. The units are currently held as mostly upgraded and furnished vacation rentals, in order to maintain maximum flexibility for the future for the next owner, while providing immediate cash flow. Offering Memorandum in Documents show pro-forma financials, and profitability as long-term beach-area luxury rentals should short-term rental use be curtailed.
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Additional Information
- Elementary School
- Franklin
- Middle School
- S.B. Jr.
- High School
- S.B. Sr.
- Acres
- 0.25
- Laundry
- Laundry Room, In Unit
- Living Area
- 7,006
- Lot Size
- 10,890
- Neighborhood
- East Beach
- Parking Garage
- Outside
- Region
- SB/EAST OF STATE
- Terms
- Cash, Conventional
- Units
- 8
- Zoning
- R-4
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Listing courtesy of Berkshire Hathaway HomeServices California Properties.