412 Corona Del Mar, Santa Barbara, CA 93103, Santa Barbara, 93103 - 0 bed, 0 bath
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412 Corona Del Mar
Santa Barbara, CA 93103
ACTIVE
CONDITION: FAIR
0Beds
0Baths
5,451Sq Ft
10,018Lot Size
Property Price
LIST PRICE$4,495,000
SUMMARY
Analysis of 412 Corona Del Mar, Santa Barbara, CA 93103 is currently available with a list price of $4,495,000. 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
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1958 with only moderate updates; the kitchen features dated tile countertops, older appliances, and original cabinetry style. While functional and well-maintained, the systems and interiors are likely over 20 years old and require modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated in the highly desirable East Beach area, this property offers rare proximity to Santa Barbara's waterfront in a world-renowned A+ location.
- Competitive Value Proposition
Priced at $562K per unit and $825/SF, the asset is positioned well below market averages for limited multi-family inventory in this premium coastal zone.
- Architectural Character
The property features high vaulted wood beam ceilings in upstairs units and a central green courtyard, providing unique aesthetic appeal that drives tenant demand.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Built in 1958 and held by the same owner for decades, the property likely requires significant capital expenditure for modernizing systems and structural components.
- Deferred Income Realization
Achieving the projected high cap rates requires a patient investment strategy, as current rents likely sit significantly below the pro-forma market potential.
About 412 Corona Del Mar
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
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1958
- Lot Size
- 10,018 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
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 |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 5,451 | 1,614 |
| Lot Size | 10,018 | 8,365.125 |
| Price | $4.50M | $1.78M |
| Price per sq ft | $825 | $1.1K |
| Built year | 1958 | 1936 |
| HOA | $0 | $0 |
| Days on market | 50 | 43 |
Pricing History
Listed for Sale
Jul 21, 2026
$4,495,000
Initial Listing