2551 Treasure Drive, SANTA BARBARA, CA 93105, SANTA BARBARA, 93105 - 3 bed, 2 bath
ACTIVE$1,695,000$6,970/sqft
2551 Treasure Drive, SANTA BARBARA, CA 93105
3Beds
2Baths
6,970Sqft
Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income & Owner-Occupant Potential: Duplex configuration (2bed/1bath & 1bed/1bath) offers strong rental income prospects, particularly targeting Cottage Hospital staff, or an ideal setup for owner-occupancy with supplemental income.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 6970, other record living area = 1574.
Compared to the nearby listings
Price:$1.70M vs avg $2.25M ($-560,000)23%
Size:6,970 sqft vs avg 1,799.5 sqft98%
Price/sqft:$243 vs avg $1.1K23%
More Insights
Built in 1950 (76 years old).
Condition: Despite being built in 1950, this property has undergone an extensive and recent renovation. The listing explicitly states 'beautifully remodeled kitchen and bathrooms,' 'all new plumbing, new HVAC w/ AC, new electrical, new dual pane windows.' The images confirm this, showcasing modern white shaker cabinets, stainless steel appliances, contemporary bathroom vanities and tiling, and new hardwood flooring throughout. All major systems and visible components appear new or virtually new, meeting current quality standards.
Year Built
1950
Close
-
List price
$1.7M
Original List price
-
Price/Sqft
$243
HOA
$0
Days on market
-
Sold On
-
MLS number
25-2570
Home ConditionExcellent
Features
Deck
Patio
View-
About this home
Beautifully remodeled duplex with large (884 sq ft) garage/workshop in a fantastic Samarkand location - close to Oak Park, Cottage Hospital, and State St. Unit mix is one 2bed/1bath & one 1bed/1bath. Each unit has it's own private yard. Enjoy vaulted ceilings, remodeled kitchen and bathrooms, all new plumbing, new HVAC w/ AC, new electrical, new dual pane windows, and so much more. Perfect option for an owner who wants to live in one unit and rent out the other. Or, capitalize on high rental returns by offering furnished rentals to nurses at Cottage Hospital. Extremely large driveway can fit 6+ cars, offering unusually ample parking for this area. Conceptual plans available to build ADU- creating a 3rd unit. Super convenient- close to beach, downtown, & shopping.
E
Easton Konn
Listing Agent
Price History
Date
Event
Price
09/20/24
Sold
$1,500,000
Condition Rating
Excellent
Despite being built in 1950, this property has undergone an extensive and recent renovation. The listing explicitly states 'beautifully remodeled kitchen and bathrooms,' 'all new plumbing, new HVAC w/ AC, new electrical, new dual pane windows.' The images confirm this, showcasing modern white shaker cabinets, stainless steel appliances, contemporary bathroom vanities and tiling, and new hardwood flooring throughout. All major systems and visible components appear new or virtually new, meeting current quality standards.
Pros & Cons
Pros
Income & Owner-Occupant Potential: Duplex configuration (2bed/1bath & 1bed/1bath) offers strong rental income prospects, particularly targeting Cottage Hospital staff, or an ideal setup for owner-occupancy with supplemental income.
Extensive Modern Renovations: Comprehensive recent upgrades including new plumbing, HVAC with AC, electrical, dual-pane windows, and remodeled kitchens/bathrooms, ensuring modern comfort and reduced immediate maintenance.
Prime & Convenient Location: Situated in the desirable Samarkand neighborhood, offering excellent proximity to Oak Park, Cottage Hospital, State Street, downtown, beaches, and shopping.
Future Development Opportunity: Conceptual plans for an Accessory Dwelling Unit (ADU) are available, providing a clear path to adding a third unit and significantly increasing property value and rental income potential.
Exceptional Parking & Workshop Space: An unusually large driveway accommodating 6+ cars, coupled with an 884 sq ft garage/workshop, offers significant utility for storage, hobbies, or potential conversion.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 6970, other record living area = 1574.
Property Age: Built in 1950, despite extensive renovations, the underlying structure is over 70 years old, which could lead to unforeseen maintenance or structural considerations in the long term.
Significant Investment Required: The list price of $1,695,000 represents a substantial capital outlay, requiring a buyer with significant financial capacity in a competitive market.
Individual Unit Size: While a duplex, the unit mix (one 2bed/1bath and one 1bed/1bath) suggests potentially smaller individual living spaces, which might influence tenant demographics or rental rates compared to properties with larger units.