440 Por La Mar DR Drive Active Save Request In-Person Tour Request Virtual Tour
Santa Barbara,CA 93103
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 25-2657
Year Built 1957
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 10890.0
Source Santa Barbara Multiple Listing Service
Property Description
Ultra-rare waterfront-area 8-unit multi-family offering just a few steps to Santa Barbara's best beach East Beach, has been recently re-positioned for much higher investor returns. The property now has an investor-friendly 6 of 8 units under landlord control, almost impossible to find today. Featuring all 2-BR units, the property has been transformed mainly to licensed shorter-term rentals in one of the premier vacation spots in the world. The units have been mostly updated and furnished; 3 units have started use as vacation rentals, with 2 more units scheduled to come on-line. Initial operational data, historical beach-area short-term rental rates, and comparable hospitality rates nearby for larger suites with kitchens, all help to confirm for a buyer the investment return potential.
Location
State CA
County Santa Barbara
Community 15 - East Beach
Interior
Laundry Laundry Room,In Unit
Exterior
Parking Features Uncovered
Building
Lot Description Near Public Transit
New Construction No
Others
Tax ID 017-322-006
Acceptable Financing Cash,Ctnl
Listing Terms Cash,Ctnl