412 Corona Del Mar, SANTA BARBARA, CA 93103
$4,495,000
Property Type:
Res Inc
Square Footage:
5,451
Lot Size (sq. ft.):
10,018
Status:
Active
Current Price:
$4,495,000
List Date:
7/21/2026
Last Modified:
7/21/2026
Description
Accessible price point for A+ location apartments by Santa Barbara's waterfront and East Beach, openly for sale for the 1st time since built in 1958. Featuring 8 generous-sized units - 6 x 1-BR over 600 gross SF (meas.), plus 2 x 2-BR over 900 gross SF (meas.) - price is $562K/unit or $825/SF, well below market for the very limited multi-family inventory near the beach of one of world's most renowned coastal communities. Highlights include attractive landscaping around a central green courtyard, high vaulted wood beam ceilings in the 4 upstairs units, moderately updated interiors, and a long pride-of-ownership history. Opportunity for the patient investor to realize long-term cap rates far above historic cap rates for Santa Barbara's beach areas; see pro-forma in unbranded OM in Documents
More Information MLS# 26-2413
Location Info
Country: US
Cross Street: Orilla Del Mar
District: 15 - SB/EAST OF STATE
Street #: 412
Street Name: Corona Del Mar
State: CA
Postal Code: 93103
County: Santa Barbara
Parcel Number: 017-321-004
Property Information
Year Built: 1958
Stories: 2
Apx Lot SqFt: 10018
Apx # Acres: 0.23
Units Furnished: None
Main House SqFt: 5451
Recurring Fees: No
Number of Units: 8
Neighborhood/Schools
Elementary School: Cleveland
Junior High School: S.B. Jr.
High School: S.B. Sr.
Owner Info
Deposit: 3
Deposit Type: %
COE: ASAP
Remarks
Hot Sheet Comment: new
Condition
Good: 1
Foundation
Slab: 1
Miscellaneous
Parking Spaces: 8
# Refrigerators: 8
# Stoves: 8
Proximity
Near Bus: 1
Near Downtown: 1
Near Grocery: 1
Near Ocean: 1
Near Park(s): 1
Laundry
Laundry Room: 1
Unit 1
# Units: 2
# Bedrooms: 2
# Baths: 1
# Half Baths: 0
Rent: 2918
Monthly Total: 5836
Income/Expenses
Total Monthly Income: 17775
Other Income: 55
Annual Income: 213960
Gross Rent Multiplr: 21.0
Capitalization Rate: 2.63%
Actual: 1
Taxes: 47483
Insurance: 5383
Water Expense: 9937
Electric Expense: 641
Gas Expense: 259
Trash Expense: 5808
Maintenance Expense: 7318
Total Annual Exp: 95614
NOI: 118346
Heating
Forced Air: 1
Cooling
A/C None: 1
Unit 2
# Units: 6
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Rent: 1990
Monthly Total: 11939
Zoning
Other: 1
R-MH: 1
Reports Available
Home Inspection: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes
Parking Info
Carport: 1
Total # Carport Spaces: 8
Flr/Wdw Coverings
Carpet: 1
Wood/Laminate: 1
Pub Listing Details
None: 1
Contract Info
Current Price: $4,495,000
Price: 4495000
Begin Date: 2026-07-21
Status: Active
NeighborhoodSchools
Neighborhood: 15 - East Beach
Property Features
Condition: Good
Foundation: Slab
Parking Info: Carport; Carport
Proximity: Near Bus; Near Downtown; Near Grocery; Near Ocean; Near Park(s)
Laundry: Laundry Room
Cooling: A/C None
Heating: Forced Air
Zoning: R-MH; Other
Reports Available: Home Inspection
Terms: Cash; Conventional
Listing Type: ER
Pub Listing Details: None
Offering Memorandum (unbranded) ›
Site Plan ›
Listing Office:
Berkshire Hathaway HomeServices California Properties
Last Updated: July - 21 - 2026
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