115 S Soledad Street, SANTA BARBARA, CA 93103, SANTA BARBARA, 93103 - 0 bed, 0 bath
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SANTA BARBARA, CA 93103
This Multi-Unit Residential Income Property represents a High-Potential Investment Opportunity, listed at $2,095,000. While currently priced slightly above the $2,015,030 Fair Market Value, the asset offers significant utility through its versatile configuration of a main home plus two additional apartments. Featuring a Condition Rating of 3, the property includes a large outdoor spa, dual-pane windows, and a spacious lot with four avocado trees. This unique setup is ideal for Buy-and-Hold Investors seeking rental income or Owner-Occupants looking to offset mortgage costs through onsite rental units.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 115 S Soledad Street Subject | $2,095,000* List Price | 0 | 0 | 1,530 | $1,317 | - |
A 124 Citrus Avenue Active | $1,740,000 List Price | 0 | 0 | 1,456 | $1,195 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is well-maintained and move-in ready, benefiting from a remodel in recent years. Updates include dual-pane windows, LVP flooring, and a functional kitchen with butcher block counters. While some bathroom finishes and cabinetry reflect a slightly older renovation style (approx. 10-15 years), the overall condition is functional and requires no immediate major repairs.
The property offers a rare configuration featuring a main 2-bedroom home plus two additional apartments (2-bed and 1-bed), providing significant rental income or a flexible multi-generational living arrangement.
Ideally situated in the Lower Eastside, the property is just blocks from the beach, the 101 Freeway, and the Milpas Street commercial corridor, offering high walkability to Trader Joe's and Sprouts.
The residence has been tastefully remodeled with dual-pane windows, solid surface counters, and a large outdoor spa, situated on a spacious lot featuring four avocado trees and a private creek setting.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =10692, other record lot size in square feet = 10890.
At a list price of $2,095,000 for 1,530 square feet, the property carries a high price-per-foot premium that may impact appraisal valuations or investor cap rates.
The presence of a creek on the property may necessitate flood insurance and could impose restrictions on future lot development or require ongoing environmental maintenance.
A rare opportunity to live in a quiet and private location enjoying a charming vintage 2 bedroom 2 bath home with a living room and a family room, plus the income from a 2 bedroom one bath apartment, a 1 bed apartment and the use of 2 one car garages in a separate structure behind the house. All remodeled in recent years featuring tasteful appointments and dual pane windows. Main house sports a spacious kitchen with solid surface counters and playful pebble backsplash, office area, primary bedroom bath with spa tub, laundry area, and huge outdoor spa for entertaining or private moments of relaxation under the stars. Just blocks from the Milpas Street commercial corridor featuring Trader Joe's and Sprouts Farmers Market, the 101 Freeway entrances, and the beach. Four avocado trees and creek
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,530 | - |
| Lot Size | 10,692 | - |
| Price | $2.10M | $2.13M |
| Price per sq ft | $1.4K | $813 |
| Built year | 0 | 0 |
| HOA | $0 | $0 |
| Days on market | 12 | 47 |
Jul 10, 2026
$2,095,000
Initial Listing