
Santa Barbara, CA 93101
This Dual-Residence Income Property is a Strong Value Opportunity, listed at $2,075,000—positioned well below the $2,082,005 Fair Market Value by 0.34%. This valuation gap offers $7,005 in Instant Equity. Featuring a Condition Rating of 3, the property includes two detached 3BD/2BA homes with a new roof and four garage spaces. This turnkey asset is ideal for Buy-and-Hold Investors seeking rental income or Owner-Occupants looking to offset mortgage costs through a house-hack strategy.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1204 San Andres Street Subject 0 bd · 0 ba · 2,429 sqft · $857 | $2,075,000* List Price | 0 | 0 | 2,429 | $857 | - |
A 916 W Micheltorena Street Active 0 bd · 0 ba · 1,910 sqft · $864 · 0.4 mi | $1,650,000 List Price | 0 | 0 | 1,910 | $864 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property consists of two residences built or extensively remodeled in 2004-2005, placing them in the 19-20 year age range. The listing confirms they are move-in ready with a brand new roof, fitting the criteria for well-maintained and functional homes within the 10-20 year bracket.
The property features two fully detached 3BD/2BA residences on a single lot, offering a rare and versatile opportunity for multi-generational living or high-yield rental income in a competitive market.
Rare for the Westside, the property includes four garage spaces (two per unit) plus additional off-street parking, providing significant value and convenience for tenants or owners.
Delivered vacant with a brand-new roof and modern construction/remodeling from 2004/2005, the homes are move-in ready, minimizing immediate capital expenditures for the buyer.
With two large residences and four garage spaces situated on a 5,663 sqft lot, the outdoor yard spaces are relatively compact, which may limit privacy and recreational utility.
The assigned elementary and middle schools carry average ratings (5/10), which could be a drawback for families specifically targeting Santa Barbara's highest-rated school districts.
A rare Santa Barbara opportunity featuring two fully detached residences on one property, offering approximately 2,429 total SqFt between the two homes. Each residence offers 3BD/2BA, its own fenced yard and patio, laundry, a 2-car garage, and ample off-street parking, creating the feel of two single-family homes. The original single-level Anapamu residence was built in 1910 and extensively remodeled in 2004, when the two-story San Andres residence was built. Delivered vacant and move-in ready with a new roof. Ideal as an investment or an opportunity to occupy one home while generating rental income from the other. Four garage spaces, separate outdoor areas, and a location convenient to downtown, restaurants, shopping, transportation, and nearby schools. Condo conversion in progress and transferable to the buyer, subject to City approval. The sellers have submitted a Tentative Subdivision Map and Condominium Conversion Permit application with the City of Santa Barbara (PLN2026-00236), currently in process, and a new owner can pick up the application where the sellers leave off, authorize the sellers' land use consultant to continue as agent, and pursue the conversion of the two detached homes into two individually owned condominiums through City approval and recordation. Also worth noting, the property is not subject to the City of Santa Barbara's new Rent Stabilization Ordinance, which applies only to units with a certificate of occupancy issued before February 1, 1995. This property's certificate of occupancy is from 2004.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades K-6 • 1.7 mi
Grades 7-8 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,429 | 1,517.75 |
| Lot Size | 5,663 | 6,905.063 |
| Price | $2.08M | $1.98M |
| Price per sq ft | $854 | $1.2K |
| Built year | 2005 | 1955 |
| HOA | $0 | $0 |
| Days on market | 23 | 69 |
Oct 1, 2026
$2,075,000
Initial Listing
Jul 18, 2022
$1,950,000
Public Record
Jun 17, 2016
$1,175,000
Public Record