324 W Cabrillo Boulevard, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 1 bed, 1 bath
324 W Cabrillo Boulevard
SANTA BARBARA, CA 93101
Property Price
SUMMARY
Analysis of 324 W Cabrillo Boulevard, SANTA BARBARA, CA 93101 is currently available with a list price of $5,500,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the SANTA BARBARA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property is a functioning mixed-use site featuring a renowned restaurant and a 'charming' residence, indicating it is maintained and operational. However, the structures are estimated to be over 50 years old with aging infrastructure that requires significant capital investment for modernization. While the location is premium, the building components show signs of age and lack recent comprehensive renovations to the major systems.
PROSSTRENGTHS & OPPORTUNITIES
- Premier Waterfront Location
Situated directly on Cabrillo Boulevard with stunning ocean views, this property occupies a high-visibility site in Santa Barbara's coveted waterfront district, steps from Stearns Wharf and the harbor.
- Significant Development Potential
The site offers exceptional upside for investors with zoning that supports future hotel development and the potential to add 3,000 SF of nonresidential floor area per the City's Growth Management Program.
- Established Mixed-Use Income
The property features a renowned, high-profile tenant in Toma Restaurant & Bar alongside a residential unit, providing immediate prestige and flexible rental income streams.
CONSRISKS & DEFICIENCIES
- Lack of On-Site Parking
The property has no physical parking spaces on-site, which may complicate high-density redevelopment or future operational logistics despite having legal non-conforming credits.
- Aging Infrastructure
Estimated to be over 50 years old, the existing structures may require significant capital investment for modernization or repairs to maintain their value and functionality.
About 324 W Cabrillo Boulevard
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
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2000
- Lot Size
- 7,350 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 3.0 | 5% |
| Baths | 1.0 | 2.0 | 33% |
| Square foot | - | 1,224.5 | 8% |
| Lot Size | 7,350 | 4,138.2 | 88% |
| Price | $5.50M | $1.43M | 98% |
| Price per sq ft | $0 | $1.1K | 25% |
| Built year | 2000 | 1930 | 92% |
| HOA | $0 | $0 | 50% |
| Days on market | 197 | 191 | 53% |
Pricing History
Listed for Sale
Jan 9, 2026
$5,500,000
$5,900,000
-7% Price Drop
Initial Listing
Price Change
Aug 22, 2025
$5,900,000
Initial Listing