1415-1417 Park Place, Santa Barbara, CA 93103, Santa Barbara, 93103 - 0 bed, 0 bath
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1415-1417 Park Place
Santa Barbara, CA 93103
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
0Sq Ft
10,454Lot Size
Property Price
LIST PRICE$2,650,000
SUMMARY
1415+1417 Park Place is a competitively-priced and well cared-for 6-unit 2-building multi-family investment, located at the edge of Santa Barbara as it transitions to Montecito via Old Coast Highway. The configuration of the 2 buildings is especially well-suited for an owner-occupant in the recently-vacated 2-unit Victorian home with 12-foot ceilings, with mortgage/expenses paid from ~$10K monthly rent from the 1980-built 4 x 1-BR building separated across the driveway. Or re-rent the 2 vacant units in the home to revive the total income to the recent ~$17,200/month (~$206K annual). The sellers have made approx. $350K of upgrades in the last 3 years, incl. mostly all new roofs. See unbranded Offering Memorandum in Documents for more details. Don't miss this value opportunity!
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Despite the 1980 build date and Victorian age of the primary home, the property has undergone $350,000 in upgrades within the last 3 years, including new roofs. Interior images show a mint-condition renovation with modern wide-plank flooring, fresh paint, updated windows, and contemporary fixtures, qualifying it as a recent high-end renovation.
PROSSTRENGTHS & OPPORTUNITIES
- Owner-User Versatility
The vacant 2-unit Victorian home offers a unique opportunity for an owner-occupant to live on-site while generating approximately $10,000 in monthly income from the separate 4-unit building to offset mortgage costs.
- Recent Capital Improvements
With approximately $350,000 in upgrades completed over the last three years, including new roofs, the property significantly reduces the immediate need for capital expenditures and deferred maintenance.
- Strategic Transitional Location
Ideally positioned at the border of Santa Barbara and Montecito, the property benefits from high rental demand and proximity to luxury amenities, supporting a strong projected annual income of over $206,000.
CONSRISKS & DEFICIENCIES
- Infrastructure Complexity
Managing a historic Victorian home alongside a 1980s apartment building requires navigating two different sets of maintenance needs and aging infrastructure systems.
- High Site Density
Accommodating six units on a 10,454 square foot lot may result in limited private outdoor space and potential parking constraints, which could impact long-term tenant satisfaction.
About 1415-1417 Park Place
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1980
- Lot Size
- 10,454 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
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 |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | - | 1,517.75 |
| Lot Size | 10,454 | 6,905.063 |
| Price | $2.65M | $1.98M |
| Price per sq ft | $0 | $1.2K |
| Built year | 1980 | 1955 |
| HOA | $0 | $0 |
| Days on market | 17 | 69 |
Pricing History
Listed for Sale
Oct 7, 2026
$2,650,000
Initial Listing