Realkey.ai
RealKey
‪(213) 433-7766‬

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

5021 Alvarado Street, Carpinteria, CA 93013 home-pic-0
ACTIVE$1,384,000$1,400/sqft
Est. Value: $1,274,739
-7%
AboveEstimate
5021 Alvarado Street, Carpinteria, CA 93013
4Beds
0Bath
1,400Sqft
Lot

Price Vs. Estimate

The estimated value ($1,274,739.465) is $109,260.535 (7%) 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, offering exceptional flexibility for multi-generational living, guest accommodation, or significant rental income potential.
Top Cons:
Age and Condition Implied: Built in 1947, the property's age and the description's emphasis on 'contractors' and 'renovate' strongly suggest it requires significant updates or modernization to meet contemporary standards.

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Condition: Built in 1947, this property is significantly aged, and the images reveal severely outdated kitchens and bathrooms in both units. Appliances are old, flooring consists of worn carpet and dated vinyl tiles, and light fixtures are basic and old-fashioned. The overall condition suggests a lack of major renovations for many decades, requiring substantial repairs and rehabilitation to meet modern living standards. The listing description itself targets 'contractors' and 'investors' and emphasizes 'endless potential' and the need to 'build, renovate,' reinforcing the assessment that extensive work is needed.
Year Built
1947
Close
-
List price
$1.38M
Original List price
-
Price/Sqft
$989
HOA
$0
Days on market
-
Sold On
-
MLS number
V1-32037
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 significantly aged, and the images reveal severely outdated kitchens and bathrooms in both units. Appliances are old, flooring consists of worn carpet and dated vinyl tiles, and light fixtures are basic and old-fashioned. The overall condition suggests a lack of major renovations for many decades, requiring substantial repairs and rehabilitation to meet modern living standards. The listing description itself targets 'contractors' and 'investors' and emphasizes 'endless potential' and the need to 'build, renovate,' reinforcing the assessment that extensive work is needed.
Pros & Cons

Pros

Dual Dwelling & Income Potential: The property features two detached homes, offering exceptional flexibility for multi-generational living, guest accommodation, or significant rental income potential.
Prime Coastal Location: Situated in a highly desirable Carpinteria neighborhood, 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, this property offers diverse opportunities for renovation, redevelopment, or immediate rental income.
Quiet Yet Accessible Setting: The location strikes an ideal balance, being far enough from the freeway to ensure peace and quiet, yet close enough for convenient access to amenities and transportation.
Ample Storage & Parking: The main house includes a carport, garage, and two additional storage sheds, providing practical benefits for residents or potential tenants.

Cons

Age and Condition Implied: Built in 1947, the property's age and the description's emphasis on 'contractors' and 'renovate' strongly suggest it requires significant updates or modernization to meet contemporary standards.
Compact Living Spaces: With 1400 sqft divided between two detached homes (a 3-bed/2-bath and a 2-bed/1-bath), individual living areas are likely compact, which may not appeal to buyers seeking spacious layouts.
Potential for Extensive Renovation Costs: The 'endless potential' and targeting of 'contractors' indicate that substantial investment in renovation, upgrades, or even redevelopment might be necessary, adding to the overall cost for a buyer.
Browse Properties by State Browse housing market trends by state