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412 Corona Del Mar, SANTA BARBARA, CA 93103

$4,495,000
Property Type: Res Inc Square Footage: 5,451 Lot Size (sq. ft.): 10,018 Status: Active
Current Price: $4,495,000 List Date: 7/21/2026 Last Modified: 7/21/2026

Overview

Description

Accessible price point for A+ location apartments by Santa Barbara's waterfront and East Beach, openly for sale for the 1st time since built in 1958. Featuring 8 generous-sized units - 6 x 1-BR over 600 gross SF (meas.), plus 2 x 2-BR over 900 gross SF (meas.) - price is $562K/unit or $825/SF, well below market for the very limited multi-family inventory near the beach of one of world's most renowned coastal communities. Highlights include attractive landscaping around a central green courtyard, high vaulted wood beam ceilings in the 4 upstairs units, moderately updated interiors, and a long pride-of-ownership history. Opportunity for the patient investor to realize long-term cap rates far above historic cap rates for Santa Barbara's beach areas; see pro-forma in unbranded OM in Documents

Listing Details MLS# 26-2413

Location Info

District
15 - SB/EAST OF STATE
Street #
412
Street Name
Corona Del Mar
State
CA
Country
US
Postal Code
93103
County
Santa Barbara
Parcel Number
017-321-004
Cross Street
Orilla Del Mar

Contract Info

Price
4495000
Begin Date
2026-07-21

Property Information

Number of Units
8
Units Furnished
None
Stories
2
Year Built
1958
Main House SqFt
5451
Apx # Acres
0.23
Apx Lot SqFt
10018
Recurring Fees
No

NeighborhoodSchools

Neighborhood
15 - East Beach

Remarks

Hot Sheet Comment
new

Owner Info

Deposit
3
Deposit Type
%
COE
ASAP

More Information

Miscellaneous

Parking Spaces
8
# Refrigerators
8
# Stoves
8

Unit 1

# Units
2
# Bedrooms
2
# Baths
Yes
Rent
2918
Monthly Total
5836
# Half Baths
0

Unit 2

# Units
6
# Bedrooms
Yes
# Baths
Yes
Rent
1990
Monthly Total
11939
# Half Baths
0

Meters

Sep Meter Wtr
N
Sep Meter Elec
Y
Sep Meter Gas
Yes

Parking Info

Total # Carport Spaces
8
Carport
Yes

Neighborhood/Schools

Elementary School
Cleveland
Junior High School
S.B. Jr.
High School
S.B. Sr.

Condition

Good
Yes

Foundation

Slab
Yes

Proximity

Near Bus
Yes
Near Downtown
Yes
Near Grocery
Yes
Near Ocean
Yes
Near Park(s)
Yes

Laundry

Laundry Room
Yes

Income/Expenses

Total Monthly Income
17775
Other Income
55
Annual Income
213960
Gross Rent Multiplr
21.0
Capitalization Rate
2.63%
Actual
Yes
Taxes
47483
Insurance
5383
Water Expense
9937
Electric Expense
641
Gas Expense
259
Trash Expense
5808
Maintenance Expense
7318
Total Annual Exp
95614
NOI
118346

Heating

Forced Air
Yes

Cooling

A/C None
Yes

Zoning

Other
Yes
R-MH
Yes

Reports Available

Home Inspection
Yes

Terms

Cash
Yes
Conventional
Yes

Listing Type

ER
Yes

Flr/Wdw Coverings

Carpet
Yes
Wood/Laminate
Yes

Pub Listing Details

None
Yes

Property Features

Condition: Good Foundation: Slab Parking Info: Carport; Carport Proximity: Near Bus; Near Downtown; Near Grocery; Near Ocean; Near Park(s) Laundry: Laundry Room Cooling: A/C None Heating: Forced Air Zoning: R-MH; Other Reports Available: Home Inspection Terms: Cash; Conventional Listing Type: ER Pub Listing Details: None
IDX
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: July - 21 - 2026
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.

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