1600 Santa Barbara Street, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 0 bed, 0 bath
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1600 Santa Barbara Street
SANTA BARBARA, CA 93101
PENDING
CONDITION: POOR
0Beds
0Baths
12,500Sq Ft
31,363Lot Size
Property Price
LIST PRICE$6,750,000
SUMMARY
Prime opportunity for the savvy developer/investor to take advantage of the new flexible Adaptive Re-Use ordinance and favorable R-M zoning, to re-purpose inside the walls of a classic historic building into apartments or condominiums. As one of Santa Barbara's most treasured and unique properties, in an A++ location where downtown transitions to the Upper East and directly across from Alick Keck Park gardens, ''The McCormick House'' has been used commercially since the late 1960's as an art education center. The approx. 12,500+/-SF structure (incl. full ceiling height lower level) had a major systems renovation in the 1990's. Mills Act potential property tax reduction may add to the investment benefits. Contact agents for details and examples. Floorplans and ARU code under Documents.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1940 with the last major systems renovation occurring in the 1990s (over 30 years ago). While the structure is well-maintained as a historic landmark, it currently functions as a commercial art center and requires a complete interior 're-purpose' and rehab to be converted into residential apartments or condominiums. The systems are at the end of their typical life cycle and the layout lacks modern residential kitchens and baths.
PROSSTRENGTHS & OPPORTUNITIES
- A++ Prime Location
Ideally situated where downtown transitions to the Upper Eastside, directly across from Alice Keck Park Memorial Garden, offering unmatched prestige and neighborhood appeal.
- High Development Potential
The flexible R-M zoning and Adaptive Re-Use ordinance provide a rare opportunity to convert this 12,500 SF historic structure into high-density apartments or luxury condominiums.
- Significant Financial Incentives
Potential for substantial property tax reductions via the Mills Act, coupled with a recent $750,000 price reduction, significantly enhances the investment's value proposition.
CONSRISKS & DEFICIENCIES
- Complex Conversion Requirements
Repurposing a long-term commercial art center into residential units involves significant capital expenditure and navigating strict historic preservation and building codes.
- Aging Infrastructure
While major systems were updated in the 1990s, the 30-year-old renovations likely require modern upgrades to meet current luxury residential standards and efficiency expectations.
About 1600 Santa Barbara Street
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1940
- Lot Size
- 31,363 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 | 12,500 | 1,517.75 |
| Lot Size | 31,363 | 6,905.063 |
| Price | $6.75M | $1.98M |
| Price per sq ft | $540 | $1.2K |
| Built year | 1940 | 1955 |
| HOA | $0 | $0 |
| Days on market | 359 | 69 |
Pricing History
Listed for Sale
Feb 12, 2026
$6,750,000
$7,500,000
-10% Price Drop
Initial Listing
Price Change
Oct 30, 2025
$7,500,000
Initial Listing