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

5021 Alvarado Street, Carpinteria, CA 93013 home-pic-0
ACTIVE$1,384,000$1,230/sqft
Est. Value: $1,326,416
-4%
AboveEstimate
5021 Alvarado Street, Carpinteria, CA 93013
4Beds
3Baths
1,230Sqft
Lot

Price Vs. Estimate

The estimated value ($1,326,416.34) is $57,583.66 (4%) lower than the list price ($1,384,000). This property may be overpriced.

Key pros and cons

Top Pros:
Dual Dwelling & Income Potential: The property features two detached homes (3-bed/2-bath and 2-bed/1-bath), offering exceptional flexibility for multi-generational living, a guest house, or significant rental income opportunities.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1230, other record living area = 1400.

Compared to the nearby listings

Price:$1.38M vs avg $1.79M ($-411,000)21%
Size:1,230 sqft vs avg 1,203 sqft55%
Price/sqft:$1.1K vs avg $59666%

More Insights

Built in 1947 (79 years old).
Condition: Built in 1947, this property is explicitly marketed as a renovation project for contractors and investors, which is strongly supported by the visual evidence. Both kitchens feature extremely outdated cabinets, worn laminate/stainless steel countertops, old appliances (or lack thereof), and dated vinyl flooring. The bathrooms are similarly outdated with old vanities, fixtures, and shower/tub enclosures. Throughout both units, the flooring consists of old, worn patterned carpets and vinyl tiles, and light fixtures are basic and antiquated. The overall condition indicates a need for substantial repairs and rehabilitation to meet modern living standards, aligning with the 'poor' category rather than just 'fair' which implies minor updates.
Year Built
1947
Close
-
List price
$1.38M
Original List price
-
Price/Sqft
$1,125
HOA
$0
Days on market
-
Sold On
-
MLS number
V1-30295
Home ConditionPoor
Features
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 is explicitly marketed as a renovation project for contractors and investors, which is strongly supported by the visual evidence. Both kitchens feature extremely outdated cabinets, worn laminate/stainless steel countertops, old appliances (or lack thereof), and dated vinyl flooring. The bathrooms are similarly outdated with old vanities, fixtures, and shower/tub enclosures. Throughout both units, the flooring consists of old, worn patterned carpets and vinyl tiles, and light fixtures are basic and antiquated. The overall condition indicates a need for substantial repairs and rehabilitation to meet modern living standards, aligning with the 'poor' category rather than just 'fair' which implies minor updates.
Pros & Cons

Pros

Dual Dwelling & Income Potential: The property features two detached homes (3-bed/2-bath and 2-bed/1-bath), offering exceptional flexibility for multi-generational living, a guest house, or significant rental income opportunities.
Prime Walkable Location: Situated in the heart of Carpinteria, it's moments from pristine beaches, charming downtown shops, and top-rated schools, all easily accessible by foot or bike.
Versatile Investment Opportunity: Explicitly marketed for contractors, investors, or families, the property offers endless opportunities to build, renovate, or rent, catering to various buyer profiles.
Quiet & Convenient Access: The location strikes a desirable balance, being far enough from the freeway to avoid noise, yet close enough for convenient access to amenities and transportation.
Ample Storage & Parking: The main house includes a carport, garage, and two storage sheds, providing practical benefits for parking and extra storage space.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1230, other record living area = 1400.
Age of Property & Renovation Needs: Built in 1947, the property is older, and the description's emphasis on 'contractors' and 'renovate' suggests it likely requires significant updates and investment to modernize both homes.
Potentially Limited Living Space: The combined square footage of 1230 sqft for two detached homes (a 3-bed/2-bath and a 2-bed/1-bath) suggests compact living spaces, which may be a drawback for some buyers.
As-Is Condition Implied: The framing of the property as an 'opportunity' for contractors and investors often implies it is being sold in 'as-is' condition, potentially requiring substantial upfront capital for necessary repairs or upgrades.
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