The crown jewel of Santa Barbara's waterfront, ''El Palacio De La Reina'' is in the very best of locations - 1 block to the beach and 1 block to State St. Its recent renovation is a passion project masterpiece of authentic architectural restoration and gorgeous modern interiors, at a cost of ~$5.5M. The exquisite Spanish Colonial building is capped by a unique and luxurious owner's residence of nearly 2000 square feet. Each residence has its own exterior entrance, and the 3 smaller apartments are finished with the same high-quality designer touches as the owner's home. Works as income generation for long-term or short-term (currently allowed) beach area rentals, or for guests on-and-off, there are many options for use or investment. Offering Memorandum in Documents, do not disturb tenants