1221 Chapala Street, Santa Barbara, CA 93101, Santa Barbara, 93101 - 2 bed, 6 bath

1221 Chapala Street, Santa Barbara, CA 93101 home-pic-0
ACTIVE UNDER CONTRACT$4,750,000$7,525/sqft
1221 Chapala Street, Santa Barbara, CA 93101
2Beds
6Baths
7,525Sqft
7,405Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Location: Prime downtown Santa Barbara location, just one block off State Street, offering unparalleled access to restaurants, shops, and amenities in a highly desirable 'California Riviera' setting.
Top Cons:
High Capital Investment: The list price of $4.75 million represents a significant financial commitment, potentially limiting the pool of prospective buyers.

Compared to the nearby listings

Price:$4.75M vs avg $1.77M (+$2,975,000)94%
Size:7,525 sqft vs avg 1,690 sqft94%
Price/sqft:$631 vs avg $62050%

More Insights

Built in 1987 (39 years old).
Condition: This mixed-use property, built in 1987, presents a dichotomy in its condition. The commercial/office space (5614 sq ft) has undergone a 'new buildout' as stated in the description and is visually confirmed by the images. This section features modern, open floor plans, polished concrete floors, contemporary lighting, and a very modern, well-equipped kitchen/breakroom with sleek cabinetry, white countertops, and stainless steel appliances, placing it in excellent condition. The residential penthouse (1911 sq ft), while clean and well-maintained, exhibits a more traditional/transitional style. The residential kitchen features medium-toned wood cabinets, granite countertops, and a mix of black and stainless steel appliances. While functional and in good repair, its style appears to be from an earlier renovation, likely 10-15 years ago, rather than a brand-new installation. The residential living areas have hardwood floors and vaulted wood-beam ceilings, and the bedrooms are carpeted, all appearing well-kept. Given the extensive recent renovation of the larger commercial portion and the well-maintained, move-in ready condition of the residential penthouse (even if its kitchen style isn't cutting-edge new), the property as a whole aligns with a 'Good' score, as it requires no immediate renovations and major systems appear functional, with significant portions recently updated.
Year Built
1987
Close
-
List price
$4.75M
Original List price
-
Price/Sqft
$631
HOA
$0
Days on market
-
Sold On
-
MLS number
24455641
Home ConditionGood
Features
Excellent View:
Deck
View-

About this home

Downtown Santa Barbara, mixed use Spanish Style building with 5614 sq feet of rented office/commercial space with a new buildout, high ceilings, open floor plan, and private office spaces. An additional 1911 sq foot, plus large deck space, Spanish Style residential penthouse with 2 bedrooms, 2 baths, full kitchen, and roof deck and 360 views of Santa Barbara. Located on Chapala and Victoria, 1 block off State Street and close to all restaurants, shops, and downtown amenities. A rare offering, trophy investment property in the California Riviera.

R
Robert Sandefer
Listing Agent

Nearby schools

5/10
Roosevelt Elementary School
Public,K-60.9mi
4/10
Santa Barbara Junior High School
Public,7-81.1mi
5/10
La Cumbre Junior High School
Public,7-81.2mi
6/10
Santa Barbara Senior High School
Public,9-120.7mi
7/10
San Marcos Senior High School
Public,9-124.7mi

Price History

Date
Event
Price
02/13/13
Sold
$2,475,000
Condition Rating
Good

This mixed-use property, built in 1987, presents a dichotomy in its condition. The commercial/office space (5614 sq ft) has undergone a 'new buildout' as stated in the description and is visually confirmed by the images. This section features modern, open floor plans, polished concrete floors, contemporary lighting, and a very modern, well-equipped kitchen/breakroom with sleek cabinetry, white countertops, and stainless steel appliances, placing it in excellent condition. The residential penthouse (1911 sq ft), while clean and well-maintained, exhibits a more traditional/transitional style. The residential kitchen features medium-toned wood cabinets, granite countertops, and a mix of black and stainless steel appliances. While functional and in good repair, its style appears to be from an earlier renovation, likely 10-15 years ago, rather than a brand-new installation. The residential living areas have hardwood floors and vaulted wood-beam ceilings, and the bedrooms are carpeted, all appearing well-kept. Given the extensive recent renovation of the larger commercial portion and the well-maintained, move-in ready condition of the residential penthouse (even if its kitchen style isn't cutting-edge new), the property as a whole aligns with a 'Good' score, as it requires no immediate renovations and major systems appear functional, with significant portions recently updated.
Pros & Cons

Pros

Exceptional Location: Prime downtown Santa Barbara location, just one block off State Street, offering unparalleled access to restaurants, shops, and amenities in a highly desirable 'California Riviera' setting.
Diversified Income Stream: Mixed-use property featuring 5,614 sq ft of currently rented office/commercial space combined with a 1,911 sq ft luxury residential penthouse, providing multiple revenue sources.
Luxury Residential Penthouse: Includes a high-end 2-bedroom, 2-bath residential penthouse with a full kitchen, large deck space, and 360-degree panoramic views of Santa Barbara.
Modern Commercial Buildout: The commercial space benefits from a new buildout, high ceilings, an open floor plan, and private office spaces, appealing to modern businesses.
Trophy Investment Property: Marketed as a rare offering and a 'trophy investment property,' indicating its unique value and strong potential for appreciation in a premium market.

Cons

High Capital Investment: The list price of $4.75 million represents a significant financial commitment, potentially limiting the pool of prospective buyers.
Building Age & Maintenance: Constructed in 1987, while the commercial space has a 'new buildout,' the overall building age may imply future capital expenditures for systems or components not recently updated.
Niche Residential Appeal: The residential component is a penthouse, which, despite its luxury, caters to a specific lifestyle and may not appeal to all residential buyers seeking traditional family homes.
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