2033 Oak Avenue, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - 4 bed, 2 bath
Loading property details...
SANTA BARBARA, CA 93101
This 1915 Value-Add Asset is listed at $1,500,000, representing a stable entry point aligned with its $1,475,405 Fair Market Value. Currently holding a Condition Rating of 5, the property requires a total rehabilitation of all major systems, offering a significant opportunity for forced appreciation. The expansive 6,534 sq ft lot in Santa Barbara’s Westside provides rare ADU Potential and expansion flexibility. Proximity to Adams Elementary, La Cumbre Junior High, and San Marcos Senior High ensures long-term desirability. This is a strategic acquisition for Fix-and-Flip Investors or Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2033 Oak Avenue Subject | $1,500,000* List Price | 4 | 2 | 1,762 | $837 | - |
A 136 W Figueroa Street Sold | $1,400,000 | 3 | 3 | 1,342 | $1,043 | 1.0 mi |
B 916 W Micheltorena Street Active | $1,895,000 List Price | 4 | 3 | 1,910 | $992 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1915 with no evidence of modern renovations. The kitchen is severely outdated with worn cabinetry and a primitive layout, while the exterior shows significant deferred maintenance and overgrown landscaping. The listing description specifically targets investors and builders for a 'value-add' project, indicating the home requires a total rehab of all major systems and finishes.
The sizable 6,534 sq ft lot in Santa Barbara's Westside offers significant opportunities for expansion or the addition of an ADU, providing excellent value-add potential for investors or builders.
With 4 bedrooms and over 1,700 sq ft of living space, the home features a versatile floor plan that can accommodate large families, rental income strategies, or custom reconfigurations.
Situated in a dynamic and centrally located community, the property offers easy access to local schools, including La Cumbre Junior High, and the vibrant amenities of the Westside.
Built in 1915 and marketed as a value-add opportunity, the property likely requires substantial modernization and structural updates to meet current building standards and buyer expectations.
The $1.5 million list price represents a high entry point for a property needing significant investment, which may challenge the ROI for some investors or limit accessibility for traditional owner-users.
Rare opportunity in Santa Barbara's Westside. This 1915-built 4BD/2BA home sits on a sizable ~6,534 sq ft lot and offers exceptional potential for investors, builders, or owner-users looking to create value. The home features multiple living spaces, a flexible floor plan, and abundant potential for customization, expansion, or investment. The spacious lot presents opportunities for outdoor entertaining, gardening, or possible ADU potential (buyer to verify). Whether you're looking for a primary residence, income property, or value-add opportunity, this property delivers exceptional versatility in one of Santa Barbara's most dynamic and centrally located communities.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades K-6 • 0.9 mi
Grades 7-8 • 0.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 85% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,762 | 1,110 | 74% |
| Lot Size | 6,534 | 5,227 | 67% |
| Price | $1.50M | $1.40M | 52% |
| Price per sq ft | $851 | $1.1K | 26% |
| Built year | 1915 | 1930 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 178 | 4% |
May 5, 2026
$1,500,000
Initial Listing