
Santa Barbara, CA 93105
This Turnkey Multi-Unit Property is a High-Potential Investment Opportunity, listed at $2,795,000, which aligns closely with its $2,761,151 Fair Market Value. Featuring a meticulous, down-to-the-studs reconstruction, the property boasts an Excellent Condition Rating and includes a primary 3-bedroom residence plus a fully independent 1-bedroom apartment. With approved permits for two Junior ADUs, this asset offers significant density upside. Its separate utility infrastructure and high-end finishes make it a premier choice for Buy-and-Hold Investors or Owner-Occupants seeking a sophisticated, income-generating legacy property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2422 Fletcher Avenue A & B Subject 0 bd · 0 ba · 1,375 sqft · $2,008 | $2,795,000* List Price | 0 | 0 | 1,375 | $2,008 | - |
A 2016 State Street Active 0 bd · 0 ba · 1,522 sqft · $1,806 · 0.6 mi | $2,749,000 List Price | 0 | 0 | 1,522 | $1,806 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This property underwent a complete 'down to the bones' reconstruction over a three-year period, effectively making it a brand-new home. It features a new roof, new windows, new separate HVAC systems for both units, and high-end designer kitchens and bathrooms with premium finishes and appliances. The condition is mint with no maintenance required.
The property underwent a meticulous three-year, down-to-the-studs rebuild, combining classic Craftsman aesthetics with modern infrastructure, including a new roof, HVAC, and high-end custom finishes.
In addition to the two existing legal units, the property comes with approved plans and permits for two Junior ADUs, offering a rare and immediate opportunity to increase density and rental income.
Both units are fully self-contained with separate addresses, separate meters, individual climate control systems, and private laundry facilities, making it an ideal turnkey investment or multi-generational setup.
At a list price of $2,795,000 for 1,375 square feet, the property commands a significant premium that may challenge appraisals or deter buyers focused on interior volume.
While the property offers multiple units, the total square footage is relatively modest, resulting in smaller individual room scales that may not suit buyers looking for expansive living areas.
Some homes are renovated. This one was reborn. Over the course of 3 meticulous years, 2422 Fletcher Avenue was taken down to its bones and rebuilt with the kind of care and craftsmanship that simply isn't done anymore. The result is a classic Santa Barbara Craftsman that looks and lives like a brand-new home, without sacrificing an ounce of its old-world soul. The main residence offers single-level living at its finest across 3-bedrooms and 2-bathrooms: soaring ceilings, abundant natural light, and a chef's kitchen where every cabinet was custom-designed to evoke a sense of nostalgia, right down to the antique bronze grille mesh details. New windows frame the beautifully landscaped yard, where a thoughtfully designed hardscape sets the stage for effortless al fresco dining and entertaining Above the home, a fully independent 1-bedroom, 1-bathroom apartment with its own private entrance offers remarkable flexibility, whether for extended family, a creative studio, or rental income. Both units have been outfitted with separate meters, separate addresses (A & B), separate AC/heating systems, and in-unit laundry. The infrastructure is as thoughtful as the design. And the opportunity doesn't stop there. Approved plans and permits are already in place to add two Junior ADUs at the rear of the property, a rare head start for investors and owner-occupants alike. No detail was overlooked. No expense was spared. From the new roof to the new landscaping, every corner of this property tells the same story: done right, done once. This is not a flip. This is a legacy.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,375 | 1,517.75 |
| Lot Size | 6,969 | 6,905.063 |
| Price | $2.79M | $1.98M |
| Price per sq ft | $2.0K | $1.2K |
| Built year | 0 | 1955 |
| HOA | $0 | $0 |
| Days on market | 130 | 69 |
Jun 16, 2026
$2,795,000
Initial Listing
Mar 11, 2022
$1,800,000
Public Record
Aug 28, 1996
$260,000
Public Record