15 W Padre Street, SANTA BARBARA, CA 93105, SANTA BARBARA, 93105 - 0 bed, 0 bath
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SANTA BARBARA, CA 93105
This Colonial-Style Duplex Asset is a versatile property in a Prime Downtown Location, listed at $2,495,000 and positioned for long-term stability relative to its $2,249,528 Fair Market Value. Boasting a Condition Rating of 4, the residence preserves timeless architectural details across a 3,045 sqft footprint, including hardwood floors, fireplaces, and formal dining rooms. The expansive 3-car garage provides a significant value-add path via ADU conversion, maximizing potential rental yield. Located just steps from State Street, this offering is perfectly suited for Owner-Occupants looking to house-hack or Buy-and-Hold Investors seeking a trophy asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 15 W Padre Street Subject | $2,495,000* List Price | 0 | 0 | 3,045 | $739 | - |
A 2228 De La Vina Street Sold | $2,125,000 | 0 | 0 | 2,832 | $750 | 0.2 mi |
B 2128 Bath Street Sold | $2,250,000 | 0 | 0 | 0 | 0.3 mi | |
C 19 W Padre Street Sold | $2,950,000 | 0 | 0 | 0 | 0.0 mi | |
D 2019 Bath Street Active | $2,100,000 List Price | 0 | 0 | 0 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained and move-in ready, but the kitchen and bathrooms are significantly outdated and reflect their original period style. The kitchen features older tile countertops, vintage cabinetry, and checkerboard flooring, while the bathroom retains dated pink tiling and older fixtures. While the hardwood floors and architectural details are in good condition, the major systems and interior finishes show signs of age and lack recent modern renovations.
Situated just one property off State Street, this duplex offers unparalleled walkability and immediate access to Santa Barbara's premier shopping, dining, and cultural attractions.
The dual-unit configuration provides flexible options for owner-occupancy with rental income, multi-generational living, or a high-demand long-term rental portfolio addition in a 3,000+ sqft footprint.
The expansive 3-car garage presents a rare opportunity for an ADU conversion, allowing investors to increase density and maximize the property's overall rental yield.
As a timeless Colonial-style property with period details, buyers should anticipate potential capital expenditures for upgrading older systems and maintaining vintage architectural elements.
While the garage offers ADU potential, converting it would eliminate essential off-street parking in a high-density downtown area where street parking is often limited.
Rare offering of this timeless Colonial-style duplex in a prime location--just one property off State Street. With over 3,000 square feet of living space, the property presents a wealth of possibilities: live in one unit and rent the other, create an ideal setup for multigenerational living, or rent both units for strong income potential. The expansive 3-car garage offers additional upside--consider converting it into an ADU, or reimagine the entire property as a spacious single-family home. The lower unit features 3BD/2BA; the upper offers 2BD/1BA plus a sunroom. Both boast large living rooms, fireplaces, bay windows, formal dining rooms, breakfast nooks, built-ins, and other period details. Architectural charm and unbeatable proximity to shops make this a unique investment opportunity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,045 | 1,038 | 91% |
| Lot Size | 6,969 | 9,147 | 27% |
| Price | $2.50M | $1.71M | 82% |
| Price per sq ft | $819 | $704 | 64% |
| Built year | 0 | 1952 | 9% |
| HOA | $0 | $0 | 50% |
| Days on market | 63 | 157 | 36% |
Feb 18, 2026
$2,495,000
Initial Listing
Dec 22, 2015
$1,495,000
Public Record