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440 Por La Mar Dr
Santa Barbara, CA 93103 East Beach

$8,700,000 USD

Apartments For Sale • 7,006 SF

Property Details

Property Type Apartments
Total Building Size 7,006 SF
Lot Size 0.25 AC
Building Class C
Year Built 1957
Cap Rate 4.80 %
Zoning R4, SD3

30 Transit Score

50 Walk Score

                
                    Highlights
                
                                Ultra-rare waterfront-area apartment building for sale in the premier world-class coastal town of Santa Barbara, California
                            
                                Property has been recently re-positioned to have 6 of the 8 units under landlord control, which carries a high-value premium in the local market
                            
                                Currently 5 of the units are operated legally as short-term rentals, with one unit kept vacant for the next owner, and 2 units with long-term tenants
                            
                                The 5 short-term rental (STR) units have recent upgrades and tasteful new furnishings; most furnishings in these units are included the sale
                            
                                The property is being marketed based on its rental value as beach-area long-term luxury rentals, to insulate the next owner from any STR rule changes
                            
                                Tenants enjoy proximity to Santa Barbara's best beach East Beach, known for its wide white sand and as a hotspot for the best beach volleyball players

Property Flyers

440 Por La Mar - Offering Memorandum April 2026

Financial Summary (Proforma)

Net Operating Income: $417,522 USD (2026)

Cap Rate:	4.80 %
Total Expenses:	$181,038 USD

Amenities

Courtyard
Fenced Lot
Gated

Public Transportation

Commuter Rail	Drive	Walk	Distance
Santa Barbara (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak)	4 min	-	1.5 mi
Carpinteria Amtrak (Pacific Surfliner - Amtrak)	15 min	-	9.9 mi
Airport	Drive	Walk	Distance
Santa Barbara Municipal	30 min	-	13.9 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	8
Type:	Surface
Included in Rent:	Yes

Ken Switzer 805-680-4622 Berkshire Hathaway Commercial Division

440 Por La Mar Dr Santa Barbara, CA 93103 East Beach