324 W Cabrillo Boulevard, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 1 bed, 1 bath
ACTIVE$5,500,000/sqft
324 W Cabrillo Boulevard, SANTA BARBARA, CA 93101
1Bed
1Bath
Sqft
7,350Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Premier Waterfront Location: Unbeatable location directly across from the beach on Cabrillo Boulevard, offering stunning ocean views and immediate access to Santa Barbara's harbor, Stearns Wharf, and downtown attractions.
Top Cons:
Lack of Dedicated Parking: A significant drawback is the absence of on-site parking, which could pose challenges for both restaurant patrons and residents, despite legal non-conforming status with credit for 13 spaces.
Compared to the nearby listings
Price:$5.50M vs avg $1.40M (+$4,100,500)98%
Size: sqft vs avg 924 sqft38%
Price/sqft:$0 vs avg $84245%
More Insights
Built in 2000 (26 years old).
Condition: This mixed-use property, with an estimated original build year of 50+ years ago and a potential major renovation around 2000 (24 years ago), aligns with the 'Fair' category. While the commercial restaurant space (Toma Restaurant & Bar) appears well-maintained and charming with its classic style, there are no interior images of the single-family residence's kitchen or bathroom, which are crucial for a higher score. The residential backyard is basic. The property is functional and well-kept for its current use, but the residential unit likely requires minor updates to modernize its features and aesthetics, consistent with a property renovated 15-30 years ago.
Year Built
2000
Close
-
List price
$5.5M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
25-3173
Home ConditionFair
Features
Excellent View:
Patio
View-
About this home
An exceptional investment opportunity across from the beach in Santa Barbara's coveted waterfront district. This mixed-use property features the renowned Toma Restaurant & Bar—one of the city's most celebrated dining destinations—and a charming single-family residence offering flexible use or rental income. Situated directly along Cabrillo Boulevard with stunning ocean views, this property lies just steps from the harbor, Stearns Wharf, and downtown. With its premier location and zoning, the site presents strong potential for future hotel development, making it ideal for investors or developers Development Potential 3,000 SF of additional nonresidential floor area may be developed per the City's Growth Management Program. Year Built Estimated 50+ years ago Tenant Toma Restaurant + SFR resident Parking None; legal non-conforming with credit for 13 spaces HVAC Yes Restrooms Three To Show Call listing agent
N
Nolan Tooley
Listing Agent
Condition Rating
Fair
This mixed-use property, with an estimated original build year of 50+ years ago and a potential major renovation around 2000 (24 years ago), aligns with the 'Fair' category. While the commercial restaurant space (Toma Restaurant & Bar) appears well-maintained and charming with its classic style, there are no interior images of the single-family residence's kitchen or bathroom, which are crucial for a higher score. The residential backyard is basic. The property is functional and well-kept for its current use, but the residential unit likely requires minor updates to modernize its features and aesthetics, consistent with a property renovated 15-30 years ago.
Pros & Cons
Pros
Premier Waterfront Location: Unbeatable location directly across from the beach on Cabrillo Boulevard, offering stunning ocean views and immediate access to Santa Barbara's harbor, Stearns Wharf, and downtown attractions.
Significant Development Upside: Presents strong potential for future hotel development, with city approval for an additional 3,000 SF of nonresidential floor area, ideal for investors and developers.
Diversified Income Streams: Features a highly acclaimed restaurant, Toma Restaurant & Bar, alongside a single-family residence, providing robust and diversified income generation.
Established Commercial Anchor: The presence of Toma Restaurant & Bar, a 'celebrated dining destination,' provides a strong, established commercial tenant and enhances the property's prestige.
Flexible Residential Component: The single-family residence offers versatile options for owner-occupancy, additional rental income, or integration into a larger development project.
Cons
Lack of Dedicated Parking: A significant drawback is the absence of on-site parking, which could pose challenges for both restaurant patrons and residents, despite legal non-conforming status with credit for 13 spaces.
Potential Age-Related Maintenance: The property's estimated age of '50+ years ago' suggests potential for older infrastructure and ongoing maintenance requirements, which may necessitate future capital expenditures.
High Capital Investment: The $5.5 million asking price represents a substantial financial commitment, limiting the potential buyer pool to well-capitalized investors or development entities.