510 Los Verdes Drive, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 2 bed, 1 bath
Loading property details...
SANTA BARBARA, CA 93111
Analysis of 510 Los Verdes Drive, SANTA BARBARA, CA 93111 is currently available with a list price of $2,195,000. 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 1936, this small cottage is explicitly described in the listing as a 'tear-down candidate' with 'aging infrastructure.' The property's value is heavily weighted in the 1.5-acre land and its development potential rather than the existing 2-bedroom structure, which lacks evidence of any modern updates or renovations.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 65340, living area = 1135.
The property features a rare 1.5-acre lot in Santa Barbara, offering exceptional privacy, tranquility, and space for a small farm or private retreat.
With its large parcel size and the option to combine with neighboring lots for a 4.5-acre compound, this is a premier opportunity for a custom estate or multi-residence project.
At a list price of $2,195,000 for a 1,135-square-foot home, the value is heavily weighted in the land, making the existing structure a very expensive entry point for the size.
Built in 1936, the original 2-bedroom home likely requires significant modernization or may be viewed as a tear-down candidate for buyers looking to build a contemporary luxury residence.
Your Vision. Delivered. (Parcel 1) Rare opportunity to own 1.5 acres with a charming ±1135 SF 2BD/1BA home in a tranquil setting just minutes from the Turnpike exit. The property offers generous space, privacy, and flexibility, ideal for those seeking a peaceful retreat, small farm, or the potential to create a future dream estate. Surrounded by open space and located just minutes from town, shopping, and everyday conveniences, the setting provides the perfect balance of rural tranquility and accessibility. This offering may also be paired with the neighboring property at 504 Los Verdes, which includes a ±2,850 SF residence on 1 acre along with two additional vacant parcels (0.50 acre and 1.5 acres) totaling 3 acres. Together, the properties would create a rare 4.5 acre opportuni with two homes across four legal parcels. Properties may be purchased separately or together, offering a range of possibilities from owning a single home on acreage to creating a private compound or estate. Parcel Breakdown: Parcel 1 (510 Los Verdes - this listing): 1.5 acres with ±850 SF 2BD/1BA home - 2,195,000. Parcel 2: 1 acre with ±2,800 SF home - 3,295,000 (listed with Parcels 3 & 4 at 504 Los Verdes). Parcel 3: 0.50-acre vacant parcel.Parcel 4: 1.5-acre vacant parcel A rare chance to bring your vision to life in a peaceful setting with ocean views and convenient access to Santa Barbara.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 6% |
| Baths | 1.0 | 3.0 | 2% |
| Square foot | 1,135 | 1,920 | 3% |
| Lot Size | - | 8,712 | 14% |
| Price | $2.19M | $1.65M | 66% |
| Price per sq ft | $1.9K | $867 | 98% |
| Built year | 1936 | 1965 | 2% |
| HOA | $0 | $0 | 50% |
| Days on market | 42 | 173 | 3% |
Mar 11, 2026
$2,195,000
Initial Listing