1221 Laguna Street, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 3 bed, 2 bath
1221 Laguna Street
SANTA BARBARA, CA 93101
Property Price
SUMMARY
Estimated Market Value
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property features a 1923 bungalow and an 1800s cottage that, while charming and functional for rental income, show clear signs of age and deferred maintenance. The kitchen is outdated with older tile countertops and white appliances, floors appear to be painted wood to mask wear, and the listing itself suggests the need to 'clean up the rough edges,' placing it firmly in the fair category.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Downtown Location
Situated just blocks from State Street, the Courthouse, and the Granada Theater, the property offers an ideal car-free lifestyle in the heart of Santa Barbara.
- Multi-Unit Income Potential
With three distinct living spaces including a bungalow, a converted garage, and a historic cottage, the property generates significant rental revenue.
- Expansive Lot Size
The 7,000 SqFt lot is approximately twice the size of standard downtown parcels, providing rare space and significant development upside.
CONSRISKS & DEFICIENCIES
- Deferred Maintenance
The listing acknowledges 'rough edges' and structures dating back to 1923 and the 1800s, indicating a likely need for modernization and repairs.
- Permitting and Zoning Risks
Older converted structures and historic cottages can present challenges with modern building codes and strict Santa Barbara historical preservation guidelines.
- High Entry Cost for Condition
At a list price of nearly $1.9M, the property requires a high initial capital outlay before accounting for the costs of necessary renovations and upgrades.
About 1221 Laguna Street
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1923
- Lot Size
- 7,000 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,054 | 1,224.5 | 38% |
| Lot Size | 7,000 | 4,138.2 | 88% |
| Price | $1.88M | $1.43M | 70% |
| Price per sq ft | $1.8K | $1.1K | 92% |
| Built year | 1923 | 1929 | 42% |
| HOA | $0 | $0 | 50% |
| Days on market | 143 | 184 | 28% |
Pricing History
Listed for Sale
Oct 15, 2025
$1,879,000
Initial Listing