40 Ocean View Avenue, Santa Barbara, CA 93103, Santa Barbara, 93103 - 3 bed, 1 bath
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Santa Barbara, CA 93103
Analysis of 40 Ocean View Avenue, Santa Barbara, CA 93103 is currently available with a list price of $1,500,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Santa Barbara Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Built in 1953 and offered for the first time in over 50 years, this property is a probate sale sold in 'as-is' condition. The listing explicitly targets builders and investors, describing it as a 'blank canvas' for reimagining or redevelopment. Given the lack of renovations for over half a century and the emphasis on the large lot's development potential, the existing structure is likely at the end of its physical life.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11761, living area = 1188.
Situated in one of Santa Barbara's most desirable coastal neighborhoods, the property offers a peaceful setting with convenient access to the beach, downtown, and local amenities.
The generous 0.27-acre lot provides an exceptional opportunity for expansion, renovation, or a complete rebuild to maximize the property's value and footprint.
As a probate sale sold in its present 'as-is' condition, the home likely requires substantial immediate investment for repairs or modernization.
With only one bathroom and a modest 1,188 square foot layout, the current structure is undersized by modern standards and may not meet the needs of many contemporary buyers without expansion.
First time on the market in over 50 years. This is a rare opportunity to own a charming Santa Barbara property on a generous lot in one of the area's most desirable coastal neighborhoods. Situated on approximately 0.27 acres, the existing home offers 3 bedrooms and 1 bathroom with about 1,188 square feet of living space, presenting an exceptional opportunity for renovation, expansion, or reimagining the property to its full potential. Tucked away on Ocean View Avenue, the property offers a peaceful setting while still being conveniently close to the beach, downtown Santa Barbara, and the area's renowned restaurants and shops. Probate sale. Property to be sold in its present "as-is" condition. An exceptional opportunity for builders, investors, or buyers looking to create their dream home in Santa Barbara.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.5 | 23% |
| Square foot | 1,188 | 2,122 | 32% |
| Lot Size | 11,761 | 12,414.5 | 50% |
| Price | $1.50M | $2.51M | 23% |
| Price per sq ft | $1.3K | $1.5K | 41% |
| Built year | 1953 | 1931 | 73% |
| HOA | $0 | $0 | 50% |
| Days on market | 89 | 205 | 9% |
Mar 9, 2026
$1,500,000
Initial Listing