Ultra-rare waterfront-area 8-unit multi-family offering just a few steps to Santa Barbara's best beach East Beach, has been recently re-positioned for higher investor returns. Featuring all 2-BR units, the property has been transformed mainly to licensed shorter-term rentals in one of the premier vacation spots in the world. 5 of 8 units are under owner use control, and have been mostly updated and furnished; 3 units have started use as vacation rentals, with 2 more units scheduled to come on-line. Initial operational data, historical beach-area short-term rental rates, and comparable hospitality rates nearby for larger suites with kitchens, all help to confirm for a buyer the investment return potential. See unbranded Offering Memorandum in Documents for details and financial pro-forma.