
Santa Barbara, CA 93105
This Turnkey Residential Income Property is a High-Potential Investment Opportunity, listed at $2,400,000—positioned well below the $2,475,000 Fair Market Value by 3%. This valuation gap offers $75,000 in Instant Equity. Featuring a permitted Junior ADU, renovated kitchen, and ocean views, the home maintains a Condition Rating of 2. Located in the Peabody School District, it offers rare flexibility for multi-generational living or supplemental income. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, move-in ready asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2937 Glen Albyn Drive Subject | $2,400,000* List Price | 0 | 0 | 3,398 | $728 | - |
A 2937 Glen Albyn Drive Active | $2,650,000 List Price | 0 | 0 | 3,398 | $780 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1977, the property has undergone a comprehensive recent renovation. The kitchen is fully updated with designer cabinetry, quartz countertops, and stainless-steel appliances. Critical systems have been modernized, including an upgraded electrical panel, tankless water heater, and central A/C. The presence of dual-pane windows and a newer composite deck further confirms a high level of maintenance and recent capital improvements consistent with a <5-year renovation profile.
The inclusion of a permitted Junior ADU and a large downstairs flex space offers exceptional flexibility for multi-generational living, a home office, or supplemental rental income.
The home is move-in ready with high-quality updates including a renovated designer kitchen, central A/C, dual-pane windows, and a tankless water heater, reducing immediate capital expenditure.
Situated in the sought-after Peabody School District area, the property boasts desirable ocean and island views from the deck, significantly enhancing its market appeal.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3398, other record living area = 2652.
With nearly 3,400 square feet of living space on a 6,970 square foot lot, the outdoor yard space is relatively limited compared to the substantial size of the residence.
Despite the desirable elementary district, the assigned middle school currently holds a lower rating (4/10), which may be a consideration for families prioritizing long-term educational consistency.
With nearly 3,400 square feet of thoughtfully designed living space, this beautifully updated home offers an exceptional blend of style, flexibility, and indoor-outdoor living in the desirable Peabody School District Attendance Area. The versatile floor plan includes four bedrooms, four bathrooms, and a permitted Junior ADU--ideal for multi-generational living, a 1031 exchange, supplemental income, or simply additional space. Natural light fills the interiors, creating an effortless connection between the kitchen, living spaces, and outdoors. The renovated kitchen features designer cabinetry, quartz countertops, and stainless-steel appliances, while the expansive downstairs flex space offers endless possibilities as a media room, gym, office, playroom, or future ADU. Thoughtful upgrades include dual-pane windows and sliders, solid-core interior doors, an upgraded electrical panel, tankless water heater, and central A/C. Outside, enjoy ocean and island views from the inviting deck, a private fenced yard with drought-tolerant landscaping, paver driveway, two-car garage, and ample parking. Meticulously maintained, this rare property combines generous living space, built-in income potential, and exceptional flexibility--all under one roof.
No exterior & parking available.
Grades K-6 • 1.0 mi
Grades 7-8 • 2.4 mi
Grades 9-12 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,398 | 1,614 |
| Lot Size | 6,970 | 8,365.125 |
| Price | $2.40M | $1.78M |
| Price per sq ft | $706 | $1.1K |
| Built year | 1977 | 1936 |
| HOA | $0 | $0 |
| Days on market | 21 | 43 |
Aug 19, 2026
$2,400,000
Initial Listing
Oct 26, 1995
$349,000
Public Record