440 Por La Mar Dr, Santa Barbara, CA, 93103
About This Home
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.
Getting Around
Somewhat Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Property condition: Excellent,Good
- Year built: 1957
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: Laundry Room,In Unit
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
Features
- Flooring: Tile
Heating & Cooling
- Heating features: Wall Furnace
- Cooling features: Other,Window Unit(s)
Interior Area
- Total interior livable area: 7,006 sqft
Property
Details
- Parcel number: 017322006
- Zoning: R-4
Features
- Stories: 2
Lot
- Lot size: 0.25 Acres
- Features: Near Public Transit
Parking
- Total spaces: 8
- Parking features: Outside
- Has uncovered spaces: Yes
- Uncovered spaces: 8
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Coastal Flooding
- Landslide
How This Home’s Risks Compare
FEMA Declared Disasters in Santa Barbara County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $43,991 | $527,892 |
| Home Insurance * | $1,097 | $13,164 |
| Property Taxes | $4,277 | $51,324 |
| Electricity | $1,502 | $18,028 |
| Total | $50,867 | $610,404 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-22 | Listed for sale | $8,700,000 |
| 2025-10-28 | Listing removed | $8,700,000 |
| 2025-08-25 | Price change | $8,700,000 |
| 2025-07-10 | Listed for sale | $8,500,000 |
| 2025-04-01 | Listing removed | $7,400,000 |
| 2025-01-13 | Listing removed | $3,950 |
| 2025-01-05 | Listed for rent | $3,950 |
| 2024-10-11 | Listed for sale | $7,400,000 |
For Sale by Agent
View on Zillow