440 Por La Mar Drive, SANTA BARBARA, CA 93103 (MLS# 26-1303)

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440 Por La Mar Drive, SANTA BARBARA, CA 93103

$8,700,000

Overhead photo, 8 parking spaces in rear

Driveway to private parking area in back

Property Type: Res Inc Square Footage: 7,006 Lot Size (sq. ft.): 10,890 Status: Active

Current Price: $8,700,000 List Date: 4/22/2026 Last Modified: 4/30/2026

Overview

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.

Listing Details MLS# 26-1303

Location Info

District: 15 - SB/EAST OF STATE
Street #: 440
Street Name: Por La Mar
Street Suffix: Drive
State: CA
Country: US
Postal Code: 93103
Compass Map: Santa Barbara
Map Grid: Q12
County: Santa Barbara
Parcel Number: 017-322-006
Cross Street: Orilla Del Mar

Contract Info

Price: 8700000
Begin Date: 2026-04-22

Property Information

Number of Units: 8
Units Furnished: Varies By Unit
Stories: 2
Year Built: 1957
Main House SqFt: 7006
Apx # Acres: 0.25
Apx Lot SqFt: 10890
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 15 - East Beach

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Miscellaneous

Parking Spaces: 8
# Refrigerators: 8
# Stoves: 8

Unit 1

# Units: 8
# Bedrooms: 2
# Baths: Yes
# Half Baths: 0
Rent: 0
Monthly Total: 0

Meters

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

Parking Info

Total # Unconvered Spaces: 8
Outside: Yes

Neighborhood/Schools

Elementary School: Franklin
Junior High School: S.B. Jr.
High School: S.B. Sr.

Condition

Excellent: Yes
Good: Yes

Proximity

Near Bus: Yes
Near Ocean: Yes
Near Park(s): Yes

Laundry

In Unit: Yes
Laundry Room: Yes

Heating

Wall: Yes

Cooling

A/C Window: Yes
A/C Other: Yes

Zoning

R-4: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Flr/Wdw Coverings

Tile: Yes

Owner Provides

Water: Yes
Trash: Yes

Exchange

Poss: Yes

Property Features

Condition: Excellent; Good Parking Info: Outside Proximity: Near Bus; Near Ocean; Near Park(s) Laundry: In Unit; Laundry Room Cooling: A/C Window; A/C Other Heating: Wall Owner Provides: Water; Trash Zoning: R-4 Exchange: Poss Terms: Cash; Conventional Listing Type: ER

Documents

Offering Memorandum (unbranded) ›

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: April - 30 - 2026

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