440 Por La Mar Drive, Santa Barbara, CA 93103 - Berkshire Hathaway HomeServices California Properties

888.995.7575

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440 Por La Mar Drive Santa Barbara, CA 93103

$8,700,000 0 beds, 0 baths
0 sqft

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Photo of Ken Switzer

Ken Switzer 805-680-4622 m
805-680-4622 o
Lic#: 01245644
NRDS ID: 199501059
KSwitzer@bhhscal.com Montecito Office
1170 Coast Village Rd
Montecito, CA 93108
Phone: 805-969-5026
Fax: 805-969-4982

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Agent Remarks

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.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 26-1303

List price is $8,700,000

Beds: 0

Baths: 0

Built in 1957

2 stories

10890.00 acres

Lot size: 0.2500

Subdivision: 15 - East Beach