Realkey.ai
RealKey
‪(213) 433-7766‬

5021 Alvarado Road, Carpinteria, CA 93013, Carpinteria, 93013 - 4 bed, 3 bath

5021 Alvarado Road, Carpinteria, CA 93013 home-pic-0
ACTIVE$1,384,000$1,400/sqft
Est. Value: $1,323,481
-4%
AboveEstimate
5021 Alvarado Road, Carpinteria, CA 93013
4Beds
3Baths
1,400Sqft
5,662Lot

Price Vs. Estimate

The estimated value ($1,323,481.26) is $60,518.74 (4%) lower than the list price ($1,384,000). This property may be overpriced.

Key pros and cons

Top Pros:
Dual Detached Homes & Income Potential: The property features two detached homes, offering significant flexibility for rental income, multi-generational living, or guest accommodation, appealing to investors and families alike.
Top Cons:
Age of Property & Implied Renovation Needs: Built in 1947, the property likely requires significant updates or renovations to modernize and maximize its potential, as suggested by the target audience (contractors, investors) and phrases like 'build, renovate'.

Compared to the nearby listings

Price:$1.38M vs avg $1.79M ($-411,000)21%
Size:1,400 sqft vs avg 1,203 sqft59%
Price/sqft:$989 vs avg $59655%

More Insights

Built in 1947 (79 years old).
Condition: Built in 1947, this property, comprising two detached homes, is explicitly marketed as a renovation project for contractors and investors. The images confirm a severely outdated condition throughout both units. The kitchens feature old, mismatched cabinets, worn laminate countertops, basic and aged appliances (like the white gas range), and very old light fixtures and vinyl flooring. The bathrooms are equally dated with small, basic vanities, old shower enclosures, and vintage tile. Carpets are patterned and worn, and wall heaters suggest an inefficient heating system. While livable, the property requires substantial rehabilitation and modernization to meet current quality and comfort standards, aligning with the 'poor' condition criteria.
Year Built
1947
Close
-
List price
$1.38M
Original List price
-
Price/Sqft
$989
HOA
$0
Days on market
-
Sold On
-
MLS number
V1-32854
Home ConditionPoor
Features
Good View:
Patio
View-

About this home

Don't let this chance slip away--own a truly distinctive property brimming with endless potential right in the heart of Carpinteria. This special offering includes two detached homes, making it perfect for contractors, investors, or families who want flexibility, income potential, or room for multi-generational living.The main house features three bedrooms and two bathrooms, along with a spacious living room and kitchen for comfortable everyday living. You'll also find a carport, garage, and not one, but two storage sheds, giving you all the extra space you could need. The back house offers two bedrooms and one bathroom, as well as a cozy kitchen and living room, making it an ideal granny flat, guest house, or rental unit.Situated in a prime location, this property is just moments from pristine beaches, charming downtown shops, and top-rated elementary and high schools--all easily accessible by foot or bike. Enjoy the peace and quiet of a home set far enough from the freeway to avoid noise, yet close enough for convenient access.Whether you're a contractor looking for your next project, an investor seeking rental income, or a family wanting extra space, this property delivers endless opportunities. Build, renovate, or rent--this is your chance to make this exceptional property your own.This truly is a once-in-a-lifetime opportunity in one of Carpinteria's most desirable neighborhoods.

E
Earl Rangel
Listing Agent
Condition Rating
Poor
Built in 1947, this property, comprising two detached homes, is explicitly marketed as a renovation project for contractors and investors. The images confirm a severely outdated condition throughout both units. The kitchens feature old, mismatched cabinets, worn laminate countertops, basic and aged appliances (like the white gas range), and very old light fixtures and vinyl flooring. The bathrooms are equally dated with small, basic vanities, old shower enclosures, and vintage tile. Carpets are patterned and worn, and wall heaters suggest an inefficient heating system. While livable, the property requires substantial rehabilitation and modernization to meet current quality and comfort standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Dual Detached Homes & Income Potential: The property features two detached homes, offering significant flexibility for rental income, multi-generational living, or guest accommodation, appealing to investors and families alike.
Prime Carpinteria Location: Situated in a highly desirable area, moments from pristine beaches, charming downtown shops, and top-rated schools, with excellent walkability and bikeability.
Versatility & Investment Opportunity: Explicitly marketed for contractors, investors, or families, highlighting its adaptability for various buyer types and investment strategies, including renovation or rental.
Ample Storage & Parking: The main house includes a carport, garage, and two storage sheds, providing practical benefits for storage and vehicle accommodation.
Quiet yet Accessible Location: The property is positioned far enough from the freeway to ensure peace and quiet, while still offering convenient access to major routes.

Cons

Age of Property & Implied Renovation Needs: Built in 1947, the property likely requires significant updates or renovations to modernize and maximize its potential, as suggested by the target audience (contractors, investors) and phrases like 'build, renovate'.
Lack of Specific Condition Details: The listing emphasizes potential but omits details about the current state of the homes' interiors, systems, or recent upgrades, which could indicate deferred maintenance or a need for substantial investment beyond cosmetic changes.
Potential for Higher Maintenance Costs: Older properties, especially those that may require renovation, often come with higher ongoing maintenance costs and potential for unexpected repairs compared to newer constructions.
Browse Properties by State Browse housing market trends by state