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1221 Laguna Street, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 3 bed, 2 bath

1221 Laguna Street, SANTA BARBARA, CA 93101 home-pic-0
ACTIVE$1,879,000$1,054/sqft
Est. Value: $1,614,548
-14%
AboveEstimate
1221 Laguna Street, SANTA BARBARA, CA 93101
3Beds
2Baths
1,054Sqft
7,000Lot

Price Vs. Estimate

The estimated value ($1,614,548.38) is $264,451.62 (14%) lower than the list price ($1,879,000). This property may be overpriced.

Key pros and cons

Top Pros:
Prime Downtown Location: The property boasts an exceptional downtown Santa Barbara location, within 2-4 blocks of major attractions like the Courthouse, State Street, Granada Theater, and SB High, offering a highly desirable car-free lifestyle.
Top Cons:
Age and Condition: The main bungalow was built in 1923, and the cottage dates back to the 1800s. The description mentions needing to 'clean up the rough edges,' suggesting potential for significant renovation costs or deferred maintenance.

Compared to the nearby listings

Price:$1.88M vs avg $1.40M (+$479,500)64%
Size:1,054 sqft vs avg 984 sqft55%
Price/sqft:$1.8K vs avg $89393%

More Insights

Built in 1923 (103 years old).
Condition: The property, built in 1923, is aged but appears to be maintained. The kitchen features outdated tiled countertops, older white appliances, and traditional cabinets, while the bathroom has a basic vanity, an old medicine cabinet, and an older light fixture. These key areas are functional but show significant signs of being outdated and would require substantial renovation to meet modern standards. The description also mentions needing to 'clean up the rough edges,' indicating that while livable, it requires more than minor cosmetic updates.
Year Built
1923
Close
-
List price
$1.88M
Original List price
-
Price/Sqft
$1,783
HOA
$0
Days on market
-
Sold On
-
MLS number
25-3833
Home ConditionFair
Features
Deck
View-

About this home

1221 Laguna St - The funnest and best property opportunity in Sunny Happy Santa Barbara. Land, lots of land. 7,000 SqFt of it. Twice the size of many lots. Multiple Houses. Multiple high rental income. Directly downtown. Courthouse, State, Granada Theater, Bowl, SB High (Go Dons!) - all 2 - 4 blocks. Car-free Life. The best location creates the best opportunities and best SB lifestyle. Not just land, income. Up front, a classic Cali Bungalow. 2B/1B/1054SqFt. Sunny. Silent. Happy. 5-6K rent. In the middle of the property, a convrtd Garage w/a King + Full Bath. In the backyard, pure SB Magic - a 550sq Ft renovated 1B/1B Cottage from the 1800s. Hand-chiseled floors. Vaulted ceilings. Impossibly unique. Incredible soul. 4K rent. 1221 Laguna St is Endless Potential. Move in and clean up the rough edges, or rent out multiple units and enjoy income, or build out high-value downtown units. Unlike any other downtown property this is a must see property.

J
Jonathan Minerick
Listing Agent
Condition Rating
Fair
The property, built in 1923, is aged but appears to be maintained. The kitchen features outdated tiled countertops, older white appliances, and traditional cabinets, while the bathroom has a basic vanity, an old medicine cabinet, and an older light fixture. These key areas are functional but show significant signs of being outdated and would require substantial renovation to meet modern standards. The description also mentions needing to 'clean up the rough edges,' indicating that while livable, it requires more than minor cosmetic updates.
Pros & Cons

Pros

Prime Downtown Location: The property boasts an exceptional downtown Santa Barbara location, within 2-4 blocks of major attractions like the Courthouse, State Street, Granada Theater, and SB High, offering a highly desirable car-free lifestyle.
Significant Income Potential: Features multiple income-generating units, including a classic 2B/1B bungalow (estimated $5-6K rent) and a renovated 1B/1B cottage from the 1800s (estimated $4K rent), plus a converted garage unit, providing substantial rental revenue.
Large Lot Size: With a 7,000 SqFt lot, it's described as 'twice the size of many lots' downtown, offering rare space and potential for expansion or further development in a prime urban setting.
Versatile Development Potential: The property offers 'Endless Potential' for various strategies, from moving in and renovating, to maximizing rental income, or building out high-value downtown units, appealing to both owner-occupants and investors.
Unique Historic Charm: The renovated 1B/1B cottage from the 1800s features 'Hand-chiseled floors' and 'Vaulted ceilings,' offering unique character and historical appeal that sets it apart.

Cons

Age and Condition: The main bungalow was built in 1923, and the cottage dates back to the 1800s. The description mentions needing to 'clean up the rough edges,' suggesting potential for significant renovation costs or deferred maintenance.
Limited Primary Residence Square Footage: The main bungalow is only 1054 sqft, which may be considered small for a primary residence at its price point, despite the presence of additional units.
Complex Multi-Unit Management: Managing three distinct units (main bungalow, converted garage, historic cottage) can be more complex than a single-family home, requiring additional effort for maintenance, tenant relations, and compliance.
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