
SANTA BARBARA, CA 93105
This Reborn Santa Barbara Craftsman represents a High-Potential Investment Opportunity, listed at $2,995,000—positioned above the $2,529,020 Fair Market Value. While priced for its premium Mint Condition Rating, the property offers significant income-generating utility through its fully independent 1-bedroom apartment and approved plans for two Junior ADUs. Featuring a custom chef's kitchen and new infrastructure, this legacy asset provides immediate rental flexibility and long-term appreciation potential. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, multi-unit lifestyle property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2422 Fletcher Avenue A & B Subject | $2,995,000* List Price | 4 | 3 | 1,375 | $1,839 | - |
A 3092 Calle Rosales Sold | $2,100,000 | 2 | 3 | 1,270 | $1,654 | 0.9 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 the last 3 years, effectively making it a brand-new home. It features a modern chef's kitchen with custom cabinetry, new roof, new windows, and updated separate HVAC and electrical systems for both units, meeting all criteria for mint condition with no maintenance required.
Rebuilt from the studs over three years, this property offers the charm of a classic Craftsman with the peace of mind of a brand-new home, featuring all-new infrastructure, roof, and high-end custom finishes.
The property includes two legal units (A & B) with separate meters and addresses, plus approved plans and permits for two additional Junior ADUs, providing exceptional flexibility for investors or multi-generational living.
Both units are fully independent with their own AC/heating systems, separate laundry, and private entrances, ensuring a high level of comfort and privacy for occupants of both the main house and the apartment.
With a list price of $2,995,000 for 1,375 square feet, the property sits at a very high price point per square foot, which may be a deterrent for buyers looking for more interior volume.
Distributing four bedrooms and three bathrooms across only 1,375 square feet suggests that the individual rooms and common living areas may feel small or constrained.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 65% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,375 | 2,079 | 18% |
| Lot Size | 6,969 | 9,147.8 | 27% |
| Price | $3.00M | $2.20M | 76% |
| Price per sq ft | $2.2K | $1.1K | 95% |
| Built year | 0 | 1962 | 2% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 151 | 2% |
Jun 3, 2026
$2,995,000
Initial Listing