440 Por La Mar DR Drive, Santa Barbara, CA 93103
440 Por La Mar DR Drive, Santa Barbara, CA 93103
440 Por La Mar DR Drive, Santa Barbara, CA 93103
440 Por La Mar DR Drive, Santa Barbara, CA 93103
440 Por La Mar DR Drive, Santa Barbara, CA 93103
440 Por La Mar DR Drive, Santa Barbara, CA 93103
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$ 8,700,000
Est. payment | /mo

7,006 SqFt

Save
$ 8,700,000
Est. payment | /mo
Save

7,006 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,006 sqft

Price per Sqft $1,241

Subdivision 15 - East Beach

MLS Listing ID 26-1303

Year Built 1957

Lot Size 10,890 Sqft

Acres 0.25

Lot Dimensions 10890.0

Source Santa Barbara Multiple Listing Service

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.

Location

State CA

County Santa Barbara

Community 15 - East Beach

Interior

Heating Wall Furnace

Cooling Other, Window Unit(s)

Laundry Laundry Room, In Unit

Exterior

Parking Features Outside

Building

Lot Description Near Public Transit

New Construction No

Others

Tax ID 017-322-006

Acceptable Financing Conventional, Cash

Listing Terms Conventional, Cash

Listed by Berkshire Hathaway HomeServices California Properties

Schools and Properties Nearby

Ryan Gleason

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(805) 857-9275

rgleasonmedia@gmail.com

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440 Por La Mar DR Drive