Rare hospitality investment opportunity in the heart of Santa Barbara’s waterfront district. 134 Chapala Street is a fully operating boutique hostel steps from State Street, the Funk Zone, and the beach. Featuring modern accommodations, updated amenities, and consistent year-round occupancy, the property combines prime location with proven income performance. Zoned for transient use and surrounded by high-end hotels, restaurants, and attractions, it offers diverse revenue streams and strong appreciation potential. With Santa Barbara’s tourism market continuing to expand, this turn-key asset presents investors a rare opportunity to own a coastal hospitality property in one of California’s most supply-constrained and desirable destinations—ideal for stable cash flow, brand growth, or future redevelopment. 24.5% fractional interest available for $2,500,000 (up to 2)