440 Por La Mar Dr - Apartments FOR SALE
Santa Barbara, CA 93103 |
440 Por La Mar Dr
Santa Barbara, CA 93103
HIGHLIGHTS
- A++ location by the beach and waterfront in the world-class coastal community of Santa Barbara, CA
- One of a small handful of apartment buildings of this size which were ever built in Santa Barbara's waterfront areas, rarely come up for sale
- Next AB 1482 bump projects to a 4.0% cap rate, well above-average for Santa Barbara waterfront areas
- Pro-forma upside to 5%+ net cap rate with additional renovations
- Many ways for even further upside - zoning may allow flexible uses including vacation rentals, hospitality partnership with nearby resorts, etc.
- Potential to add 2 Accessory Dwelling Units (ADU's)
FOR SALE DETAILS
PRICE
-
# OF UNITS
-
CAP RATE
-
% LEASED
-
BUILDING DETAILS
PROPERTY NAME
La Marina Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
7006
STORIES
2
YEAR BUILT
1957
PARKING SPACES
8
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
017-322-006
