
Santa Barbara, CA 93101
Rare Residential Income Property Opportunity. This distinguished estate has not been on the market in over 50 years. Set in the heart of Santa Barbara's historical district, this charming property encompasses a Victorian main residence with attached studio, separate entrance and three detached rental units. Ideally situated within a short distance of restaurants, schools, church, and downtown State Street, the property offers a unique opportunity for generational living or those seeking income potential. The Victorian main residence celebrates craftsmanship and exudes timeless charm, with a redwood grand staircase, crown moldings, vintage redwood pocket doors, and generous living areas. An intimate secluded front garden framed by privacy hedges provides a private retreat with hot tub. From the property, views extend across Santa Barbara's historic Spanish red tile roofs toward the Granada and Arlington theaters, capturing the character and enduring appeal of this exceptional neighborhood. Main House Built in 1895 3 bedrooms / 2 baths Attached Studio and separate entrance. Three Detached Rental Units | Added in the 1960s Each rental unit offers 1 bedroom / 1 bath, off-street parking, and communal laundry. Major Property Improvements Include: New roof on main house Pest work completed Sewer lateral inspection French drain Many window screens replaced Some exterior and interior painting Building inspections available upon request. Photography and Virtual Staging provided by David Palermo. To experience the property, please contact listing agent Marie Larkin. Please do not disturb owners or tenants at the property
Property is moderate renovation needed.
The property features a well-maintained exterior with a new roof and recent paint, but the interior is highly dated and has not been substantially renovated in over 30-50 years. It features older carpets, popcorn ceilings, wall heating units, and dated kitchen and bathroom fixtures that require modernization.
This 1895 redwood residence features exceptional period details, including original crown moldings and redwood pocket doors, offering a rare and well-preserved piece of Santa Barbara history.
The property includes a main residence plus three separate one-bedroom apartments and an attached studio, providing exceptional flexibility for high-yield rental income or multi-generational living.
Ideally situated in the historical district, the property is steps from State Street and Alice Keck Park, offering iconic views of red-tile rooftops and proximity to world-class amenities.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2750, other record living area = 2376.
As a circa 1895 structure in a historical district, future renovations may be subject to strict preservation guidelines and higher maintenance costs associated with aged materials.
With a list price of $6.8 million, the property represents a significant capital investment that may yield a lower immediate cap rate compared to modern, purpose-built multi-family assets.
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 | 4,491 | 1,517.75 |
| Lot Size | 8,276 | 6,905.063 |
| Price | $6.80M | $1.98M |
| Price per sq ft | $1.5K | $1.2K |
| Built year | 1895 | 1955 |
| HOA | $0 | $0 |
| Days on market | 32 | 69 |
Sep 22, 2026
$6,800,000
Initial Listing