5021 Alvarado Street, Carpinteria, CA 93013, Carpinteria, 93013 - 4 bed, 3 bath
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5021 Alvarado Street
Carpinteria, CA 93013
ACTIVE
CONDITION: POOR
4Beds
3Baths
1,230Sq Ft
0Lot Size
Property Price
LIST PRICE$1,384,000
EST. MARKET VALUE
$1,326,416
4% AboveMARKET VALUE
SUMMARY
Analysis of 5021 Alvarado Street, Carpinteria, CA 93013 reveals a property with a current list price of $1,384,000, which is 4% above the estimated $1,326,416 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Carpinteria Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Estimated Market Value
$1,326,416
Based on Realkey algorithm analyzing recent comparable sales in Carpinteria.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5021 Alvarado Street Subject | $1,384,000* List Price | 4 | 3 | 1,230 | $1,078 | - |
A 5404 Granada Way Sold | $1,678,000 | 3 | 2 | 1,680 | $999 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
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 Both kitchens feature extremely outdated cabinets, worn laminate/stainless steel countertops, old appliances (or lack thereof), and dated vinyl flooring. The bathrooms are similarly outdated with old vanities, fixtures, and shower/tub enclosures.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.
PROSSTRENGTHS & OPPORTUNITIES
- 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.
CONSRISKS & DEFICIENCIES
- 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.
About 5021 Alvarado Street
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1947
- Lot Size
- -
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
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 | 4.0 | 3.0 |
| Baths | 3.0 | 4.0 |
| Square foot | 1,230 | 3,013 |
| Lot Size | - | 16,988 |
| Price | $1.38M | $4.75M |
| Price per sq ft | $1.1K | $1.4K |
| Built year | 1947 | 1964 |
| HOA | $0 | $0 |
| Days on market | 470 | 172 |
Pricing History
Listed for Sale
May 27, 2025
$1,384,000
Initial Listing