15 W Padre Street, SANTA BARBARA, CA 93105, SANTA BARBARA, 93105 - bed, bath
15 W Padre Street
SANTA BARBARA, CA 93105
Property Price
SUMMARY
Analysis of 15 W Padre Street, SANTA BARBARA, CA 93105 is currently available with a list price of $2,495,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the SANTA BARBARA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
This Colonial-style duplex is a well-maintained vintage property that retains its original architectural charm and period details, such as built-ins and breakfast nooks. While the structure appears sound and functional, the listing and property analysis highlight aging infrastructure and the absence of a recent comprehensive renovation. The kitchens and bathrooms, while functional, reflect older styles and appliances consistent with a property that has undergone regular upkeep rather than modern modernization, placing it firmly in the 'fair' category.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Downtown Location
Situated just one property off State Street, this duplex offers unbeatable proximity to Santa Barbara's premier shopping, dining, and entertainment, ensuring high tenant demand and long-term appreciation.
- Flexible Configuration & Income Potential
With two distinct units totaling over 3,000 square feet, the property is ideal for owner-users seeking rental income, multi-generational families, or investors looking for a high-performing residential income asset.
- Significant Value-Add Opportunity
The expansive three-car garage provides a rare opportunity for an ADU conversion, while the classic architectural charm allows for a high-end restoration into a grand single-family residence.
CONSRISKS & DEFICIENCIES
- Premium Pricing
At a list price of nearly $2.5 million, the entry point is high for a duplex, which may challenge investors focused strictly on immediate cash-on-cash returns or high cap rates.
- Aging Infrastructure Risks
While the Colonial-style period details are charming, properties of this vintage often require ongoing maintenance or costly updates to major systems like electrical, plumbing, and HVAC to meet modern standards.
About 15 W Padre Street
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.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- -
- Lot Size
- 6,969 Sq. Ft.
Interior
- Total Bedrooms
- -
- 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 3,045 | 996.5 | 90% |
| Lot Size | 6,969 | 8,711.7 | 30% |
| Price | $2.50M | $1.77M | 80% |
| Price per sq ft | $819 | $725 | 60% |
| Built year | - | 1951 | 10% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 121 | 30% |
Pricing History
Listed for Sale
Feb 18, 2026
$2,495,000
Initial Listing
Sold
Dec 22, 2015
$1,495,000
Public Record