1600 Santa Barbara Street, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - bed, bath
1600 Santa Barbara Street
SANTA BARBARA, CA 93101
Property Price
SUMMARY
Analysis of 1600 Santa Barbara Street, SANTA BARBARA, CA 93101 is currently available with a list price of $6,750,000. 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.
Built in 1940 with its last major systems renovation in the 1990s, the property is exceptionally well-maintained but outdated by modern residential standards. While the structure and hardwood floors appear in good condition, the 30-year-old systems and current commercial configuration for an art center necessitate significant updates and interior reconfiguration for residential use.
PROSSTRENGTHS & OPPORTUNITIES
- Prime A++ Location
Situated in the prestigious Upper Eastside directly across from Alice Keck Park Memorial Garden, this property offers a premier location where downtown convenience meets historic residential charm.
- Adaptive Re-Use Potential
The property is perfectly positioned to benefit from Santa Barbara's new flexible Adaptive Re-Use ordinance and favorable R-M zoning, allowing for a streamlined conversion into apartments or condominiums.
- Significant Tax Incentives
As a historic landmark known as 'The McCormick House,' the property offers potential Mills Act eligibility, which can result in substantial property tax reductions for the owner.
CONSRISKS & DEFICIENCIES
- High Conversion Costs
Repurposing a long-term commercial art education center into modern residential units will require significant capital expenditure for interior demolition, plumbing, and layout reconfiguration.
- Historic Preservation Constraints
The building's status as a 'treasured historic property' may impose strict architectural guidelines and limitations on exterior modifications during the redevelopment process.
- Specialized Buyer Requirement
The complexity of navigating Adaptive Re-Use codes and historic preservation makes this a niche investment, limiting the pool of potential buyers to experienced developers.
About 1600 Santa Barbara Street
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.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1940
- Lot Size
- 31,363 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 | 12,500 | 2,228 | 96% |
| Lot Size | 31,363 | 8,712 | 96% |
| Price | $6.75M | $2.79M | 96% |
| Price per sq ft | $540 | $608 | 43% |
| Built year | 1940 | 1951 | 43% |
| HOA | $0 | $0 | 50% |
| Days on market | 128 | 211 | 22% |
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