124 Citrus Avenue, SANTA BARBARA, CA 93103, SANTA BARBARA, 93103 - 4 bed, 2 bath
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SANTA BARBARA, CA 93103
This R-2 Zoned Duplex represents a High-Potential Investment Opportunity, listed at $1,740,000—positioned above the $1,666,707 Fair Market Value. While priced at a premium, the property’s Condition Rating of 3 and updated finishes ensure immediate rental readiness. The dual-unit configuration provides exceptional flexibility for house hacking or multi-generational living in a high-demand Santa Barbara neighborhood. With private deck and yard space, this asset balances lifestyle appeal with long-term income stability. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, turnkey property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 124 Citrus Avenue Subject | $1,740,000* List Price | 4 | 2 | 1,456 | $1,145 | - |
A 920 E Gutierrez Street Active | $1,330,000 List Price | 3 | 2 | 1,388 | $958 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1973, the property is well-maintained with updated finishes throughout, including modern appliances and flooring. It appears move-in ready and functional, fitting the 5-15 year renovation profile.
The R-2 zoning and dual-unit configuration provide excellent flexibility for rental income, house hacking, or multi-generational living in a high-demand Santa Barbara neighborhood.
Tucked away at the end of a quiet street for maximum privacy, the property remains exceptionally convenient with quick access to Trader Joe's, local dining, and the Municipal Tennis Courts.
The property features updated finishes throughout, in-unit laundry for both residences, and ample secure parking, reducing immediate capital expenditure for a new owner.
With a total of 1,456 square feet divided into two units, each 2-bedroom residence offers relatively small living quarters that may feel cramped for some occupants.
The list price of $1.74M represents a significant premium for a 1970s-built structure, which may impact the overall capitalization rate for investors compared to newer developments.
This well maintained Santa Barbara duplex at 124 Citrus Avenue is a rare opportunity on the lively Lower East Side. Tucked away at the end of a quiet street for maximum privacy, it's conveniently located less than five minutes to Trader Joe's, restaurants, freeway access, and the Municipal Tennis Courts. Each of the two separate units offers two bedrooms and one bathroom, along with in-unit washer and dryers, sizable deck and yard space, and plenty of secure parking. With updated finishes throughout and a generous lot, this R-2 zoned property delivers flexibility for multigenerational living, house hacking, or strong rental income.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 62% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,456 | 1,816 | 38% |
| Lot Size | 5,227 | 10,454.4 | 33% |
| Price | $1.74M | $2.12M | 38% |
| Price per sq ft | $1.2K | $1.6K | 38% |
| Built year | 1973 | 1929 | 81% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 220 | 5% |
May 20, 2026
$1,740,000
Initial Listing
Dec 3, 2021
$1,500,000
Public Record
May 25, 2010
$560,000
Public Record