5140 San Lorenzo Drive, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 3 bed, 2 bath
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SANTA BARBARA, CA 93111
This Strong Value Opportunity is listed at $1,395,000, positioned above the $1,298,347 Fair Market Value. While the property requires capital improvements to modernize its vintage kitchen and secondary bath, it offers significant potential through its 1,238 sqft footprint and separate backyard workshop. The home features vaulted ceilings, hardwood floors, and a prime coastal location near UCSB and local beaches. This property is an ideal acquisition for Value-Add Investors or Owner-Occupants looking to personalize a well-located, character-filled residence with a Condition Rating of 4.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5140 San Lorenzo Drive Subject | $1,395,000* List Price | 3 | 2 | 1,238 | $1,049 | - |
A 163 Lassen Drive Sold | $1,200,000 | 3 | 2 | 1,204 | $997 | 0.4 mi |
B 5085 Amberly Place Sold | $1,125,000 | 3 | 2 | 1,250 | $900 | 0.2 mi |
C 53 Walnut Lane Sold | $1,200,000 | 3 | 2 | 1,423 | $843 | 0.6 mi |
D 875 Walnut Lane Sold | $1,525,000 | 4 | 3 | 1,730 | $882 | 0.3 mi |
E 676 San Ramon Drive Active | $1,450,000 List Price | 3 | 2 | 1,230 | $1,179 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1958, the property is well-maintained but dated. While the primary bathroom has been modernly updated, the kitchen and secondary bathroom are described as vintage, and the backyard workshop remains unfinished, indicating a need for further updates to meet modern standards.
Ideally situated near UCSB, Goleta, and local beaches, this property offers exceptional accessibility to major employment hubs, hospitals, and recreational amenities.
The home features desirable aesthetic elements like vaulted ceilings, hardwood floors, and French doors that create a seamless indoor-outdoor living experience.
A separate backyard workshop and a two-car garage provide valuable flexible space for hobbies, storage, or potential utility beyond the primary living square footage.
With only 1,238 square feet for a three-bedroom configuration, the interior living areas may feel constrained for buyers prioritizing modern, spacious proportions.
While the primary bathroom is updated, the presence of a 'vintage' hall bath and the home's 1958 origin suggest that further capital improvements and system updates may be required.
Full of charm and character, this inviting single-level home features three bedrooms and two bathrooms. Hardwood floors, vaulted ceilings, and a cozy fireplace create a warm, welcoming atmosphere. French doors open to the backyard, blending indoor and outdoor living--perfect for relaxing or entertaining guests. The kitchen offers a charming dining space, complemented by a vintage hall bath and a beautifully updated primary bathroom. A two-car garage with laundry hookups adds everyday convenience, while a separate backyard workshop provides flexible space for hobbies or storage. Located near the bike path with easy access to UCSB, Goleta, the beach, and Cottage Hospital, this home offers both comfort and an unbeatable location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,238 | - |
| Lot Size | - | - |
| Price | $1.40M | $2.43M |
| Price per sq ft | $1.1K | $1.3K |
| Built year | 1958 | 0 |
| HOA | $0 | $0 |
| Days on market | 94 | 60 |
Apr 20, 2026
$1,395,000
Initial Listing