440 Por La Mar Drive

Santa Barbara, CA 93103

$7,400,000
Price
2
Beds
1
Bath
7,006 Sq. Ft.
$1,056 / Sq. Ft.
7,006
Sq. Ft.
$1,056
per Sq. Ft.

Description

The sky's the limit for this ultra-rare waterfront-area 8-unit multi-family offering steps to Santa Barbara's best beach East Beach. Currently operated as standard long-term unfurnished rental apartments, the location of the building in the Coastal Zone and R-4 could allow for shorter-term rental uses. Other creative higher-return uses such as furnished long-term luxury rentals, corporate rentals or specialty group rentals are all possibilities in this A++ location. 2 of the 8 units have been kept...The sky's the limit for this ultra-rare waterfront-area 8-unit multi-family offering steps to Santa Barbara's best beach East Beach. Currently operated as standard long-term unfurnished rental apartments, the location of the building in the Coastal Zone and R-4 could allow for shorter-term rental uses. Other creative higher-return uses such as furnished long-term luxury rentals, corporate rentals or specialty group rentals are all possibilities in this A++ location. 2 of the 8 units have been kept intentionally vacant for the next owner to have a head start on re-positioning the property for their preferences. The property's current good condition is reflective of 20+ years of local pride-of-ownership hands-on management; 6 of the 8 units include various levels of existing upgrades,
  1. Listed by Ken Switzer • DRE #01245644 • Berkshire Hathaway HomeServices California Properties
    P: (805)-680-4622 C: (805)-680-4622 kenswitzer1@yahoo.com

Property Details for 440 Por La Mar Drive

MLS Neighborhood
15 - East Beach
Zoning
R-4
Zoning:R-4
Yes
Location Info:Cross Street
Orilla Del Mar
Property Information:Recurring Fees
No
LISTING UPDATED: 10/31/2024 03:18 PM

Property Details for 440 Por La Mar Drive

StatusActive
MLS #24-3381
Days on Market21
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi-Family
Year Built1957
Lot Size0.25 AC / 10,890 SF
CountySanta Barbara County

Building Information for 440 Por La Mar Drive

Stories2Residences8Year Built1957Building Size-Lot Size0.25 AC / 10,890 SF

Property Information for 440 Por La Mar Drive

Details
Features
  • District: 15 - SB/EAST OF STATE
  • District: 15 - SB/EAST OF STATE
  • FlrWdw Coverings:Tile: Yes
  • Laundry Features: Laundry Room, In Unit
  • Laundry:In Unit: Yes
  • Laundry:Laundry Room: Yes
  • Flooring: Tile
  • Heating/Cooling:Wall: Yes
  • Year Built Numeric: 1957
  • Main House SqFt: 7006.0
  • Stories: 2
  • Property Information:Stories: 2.0
  • Building Area Total: 7006.0
Taxes and HOA Information
  • Parcel Number: 017-322-006
  • Association Fee: $.00
Parking/Garage
  • Open Parking Spaces: 8.00
  • Parking Features: Uncovered
  • Parking Info:Uncovered: Yes
  • Parking Info:Total # Unconvered Spaces: 8.00
Miscellaneous
  • Miscellaneous:# Refrigerators: 8.00
  • Miscellaneous:# Stoves: 8.00
  • Miscellaneous:Parking Spaces: 8.00
Room Info
Room Info
  • Total Bathrooms: .00
  • Bathrooms Total (Decimal): .00
  • Bathrooms Total (Notational): .00
Location Info
Location Info
  • Location Info:Compass Map: Santa Barbara
  • Location Info:Map Grid: Q12
  • Proximity:Near Bus: Yes
  • Proximity:Near Ocean: Yes
  • Proximity:Near Park(s): Yes
  • Lot Features: Near Public Transit
Neighborhood/Schools
  • Elementary School: Franklin
  • Junior High School: S.B. Jr.
  • High School: S.B. Sr.
  • NeighborhoodSchools:Elementary School: Franklin
  • NeighborhoodSchools:Junior High School: S.B. Jr.
  • NeighborhoodSchools:High School: S.B. Sr.
Property / Assessor Information
Property / Assessor Info
  • Lot Size Square Feet: 10890.0
  • Lot Size Area: 10890.0
  • Lot Size Acres: 0.25
  • Property Type Label: Res Inc
  • New Construction YN: No
  • Condition:Excellent: Yes
  • Condition:Good: Yes
  • Property Information:Realtor.com Type: Multi-Family
  • Property Information:Year Built: 1957.0
Utility Info
  • Meters:Sep Meter Wtr: N
  • Meters:Sep Meter Elec: Y
  • Meters:Sep Meter Gas: Yes
Income / Expense Info
Income / Expense Info
  • Income/Expenses:Gross Rent Multiplr: 18.45
  • Income/Expenses:Capitalization Rate: 3.63
  • Income/Expenses:Actual: Yes
  • Income/Expenses:Taxes: $78,736.00
  • Income/Expenses:Insurance: $10,000
  • Income/Expenses:Water Expense: $7,800
  • Income/Expenses:Electric Expense: $250
  • Income/Expenses:Gas Expense: $200
  • Income/Expenses:Trash Expense: $3,000
  • Income/Expenses:Maintenance Expense: $12,500
  • Income/Expenses:Total Monthly Exp: $11,045
  • Income/Expenses:Total Annual Exp: $132,535.00
  • Income/Expenses:Total Monthly Income: $33,265
  • Income/Expenses:Other Income: $150
  • Income/Expenses:Annual Income: $400,980
  • Gross Income: $400,980
  • Electric Expense: $250
  • Insurance Expense: $10,000
  • Maintenance Expense: $12,500
  • Trash Expense: $3,000
  • Gas Expense: $200
  • Water Expense: $7,800
  • OperatingExpense: $132,535
Unit Info
Unit Info
  • Number Of Units Total: 8
Unit 1 Info
  • Unit 1:# Units: 8
  • Unit 1:# Bedrooms: 2
  • Unit 1:# Baths: 1
  • Unit 1:# Half Baths: 0
  • Unit 1:Furnished: N
  • Unit 1:Rent: $4,158.00
  • Unit 1:Lease: Yes
  • Unit 1:Monthly Total: $33,265.00
Rental
Rental Information
  • Total Actual Rent: $33,265

Property History for 440 Por La Mar Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 440 Por La Mar Drive

Taxable ValueLand$1,071,039Additions$1,512,083Total$2,583,122
Tax Record2024$27,366 ($2,280 / month)
Home Facts
Lot Size10,890 SqFtStyleMulti-Family Res (5+ Units)CountySANTA BARBARAAPN017-322-006

Schools near 440 Por La Mar Drive

This home is within Santa Barbara Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Charter - K to 6
Rating
School
Distance
Cleveland Elementary School
PublicK to 6

Santa Barbara Junior High School
Public7 to 8

Santa Barbara Senior High School
Public9 to 12

Adelante Charter School
CharterK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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440 Por La Mar Drive is a multi-family home for sale in Santa Barbara, CA 93103. This property was listed for sale on October 11, 2024 by Berkshire Hathaway HomeServices California Properties, it's currently listed at $7,400,000. It has been on the market for a total of 21 days and was last sold on April 27, 2001. This listing's school district is Santa Barbara Unified School District. Nearby schools include Cleveland Elementary School, Santa Barbara Junior High School and Santa Barbara Senior High School. 440 Por La Mar Drive is a 2-bed, 1-bath, 7,006 sqft multi-family home built in 1957.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Ken Switzer, DRE #01245644

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