319 W Arrellaga Street, Santa Barbara, CA 93101, Santa Barbara, 93101 - 0 bed, 0 bath
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319 W Arrellaga Street
Santa Barbara, CA 93101
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
0Sq Ft
4,356Lot Size
Property Price
LIST PRICE$1,849,500
SUMMARY
Two meticulously remodeled cottages in a prime downtown Santa Barbara location! Offering the perfect blend of historic charm and modern elegance. The front home is 3 bedrooms, 1.5 bath, while the back home is a 2 bedroom & 1 bath. The back unit is located above the 2-car garage. Each home has it's own outdoor living space and a washer/dryer. Plans and permits are in process for a 3rd unit (garage conversion) for a 2 bed, 1 bath with a private yard. This unique property provides turn-key income in addition to value-added potential, Appealing to both investors and homeowners seeking an income-generating retreat or family compound.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Despite the 1925 build date, the property has been meticulously remodeled within the last 5 years. It features a modern kitchen with stainless steel appliances and shaker cabinets, updated hardwood flooring, fresh paint, and new fixtures, making it a turn-key, mint-condition investment.
PROSSTRENGTHS & OPPORTUNITIES
- Turn-Key Income Potential
The property features two meticulously remodeled cottages, offering immediate rental income or a move-in ready family compound with modern finishes and historic charm.
- Significant Value-Add Opportunity
Approved plans and permits are in process for a third unit via garage conversion, providing a clear path to increase density and maximize long-term return on investment.
- Prime Downtown Location
Situated in a highly desirable Santa Barbara neighborhood, this location ensures strong tenant demand and convenient access to local amenities, shops, and dining.
CONSRISKS & DEFICIENCIES
- Limited Lot Size
At 4,356 square feet, the lot is relatively compact for multiple dwellings, which may result in limited private outdoor space once the third unit is completed.
- Reduced Parking Capacity
The proposed conversion of the 2-car garage into a living unit will eliminate covered parking, potentially creating a challenge in a busy downtown area where street parking is limited.
About 319 W Arrellaga Street
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1925
- Lot Size
- 4,356 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | - | 1,517.75 |
| Lot Size | 4,356 | 6,905.063 |
| Price | $1.85M | $1.98M |
| Price per sq ft | $0 | $1.2K |
| Built year | 1925 | 1955 |
| HOA | $0 | $0 |
| Days on market | 52 | 69 |
Pricing History
Listed for Sale
Oct 22, 2026
$1,849,500
$1,930,000
-4% Price Drop
Initial Listing
Price Change
Sep 10, 2026
$1,930,000
Initial Listing
Sold
Feb 23, 2024
$1,780,000
Public Record
Sold
Feb 7, 2023
$1,197,500
Public Record