
Santa Barbara, CA 93101
This Single Family Residence represents a High-Potential Investment Opportunity, listed at a $2,000,000 List Price that aligns with its $2,000,000 Fair Market Value. Featuring a Condition Rating of 3, the home offers a blend of modern interior updates and significant R-MH Zoning potential on a generous 9,148-square-foot lot. The property provides rare flexibility for ADU development or multi-unit expansion in a prime Santa Barbara location. This versatile asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term value and development upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 319 W Mission Street Subject | $2,000,000* List Price | 4 | 2 | 1,330 | $1,504 | - |
A 1815 Mountain Avenue Sold | $2,100,000 | 3 | 3 | 1,233 | $1,703 | 0.7 mi |
B 1525 Castillo Active | $1,999,999 List Price | 4 | 3 | 1,641 | $1,219 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1920, the property has undergone significant recent renovations including new flooring, drywall, insulation, and recessed lighting. The bathrooms are modernized with contemporary fixtures and tile. However, the kitchen retains a more dated aesthetic with older cabinetry and countertops, and the exterior outbuilding shows significant wear, keeping it from an 'Excellent' rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9148, living area = 1330.
The expansive 9,148-square-foot lot combined with R-MH zoning provides rare flexibility for multi-unit residential use, ADUs, or future expansion in a high-demand Santa Barbara neighborhood.
Built in 1920, the home seamlessly blends timeless character with significant modern upgrades, including new flooring, drywall, enhanced insulation, and updated bathrooms for a move-in-ready experience.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
With four bedrooms configured within only 1,330 square feet, the interior living spaces and individual rooms may feel undersized or cramped for families requiring more generous square footage.
Having been on the market for 73 days at a $2 million price point, the property may be facing resistance regarding its price-to-size ratio, potentially affecting its perceived value to conventional buyers.
Set behind a manicured front lawn and welcoming covered porch, this picturesque four-bedroom, two-bathroom residence blends timeless architectural character with thoughtful modern updates. The light-filled interior offers an easy, functional floor plan with comfortable living and dining spaces, updated bathrooms, new flooring, new drywall, enhanced insulation, recessed lighting, and a clean, refined aesthetic throughout. The home’s inviting layout flows naturally to a series of peaceful outdoor spaces surrounded by mature trees, established hedging, and lush landscaping. A private stone patio creates an intimate setting for outdoor dining and entertaining, while the expansive grounds offer abundant space for gardening, recreation, and the addition of an ADU. Situated on an impressive 9,147-square-foot lot, the property offers a rare sense of openness and possibility in the heart of Santa Barbara. Its R-MH zoning provides meaningful long-term flexibility, accommodating single- and multi-unit residential uses, ADUs, and residential care uses. The largely undeveloped portion of the lot creates an exceptional opportunity for additional housing, multigenerational living, rental income, or future expansion while preserving the home’s existing garden setting. Conveniently located near downtown Santa Barbara, State Street, Cottage Hospital, shopping, dining, and neighborhood amenities, 319 W Mission Street offers the charm of a classic Santa Barbara residence, the comfort of a thoughtfully renovated interior, and the lasting value of a generous and versatile property. --
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.6 |
| Baths | 2.0 | 3.3 |
| Square foot | 1,330 | 2,905.353 |
| Lot Size | 9,148 | 21,805.412 |
| Price | $2.00M | $4.86M |
| Price per sq ft | $1.5K | $1.7K |
| Built year | 1920 | 1958 |
| HOA | $0 | $3.2K |
| Days on market | 120 | 84 |
May 12, 2026
$2,000,000
Initial Listing
Dec 22, 2023
$1,420,000
Public Record
Dec 6, 2021
$1,280,000
Public Record