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53 Walnut Lane, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 3 bed, 2 bath

53 Walnut Lane, SANTA BARBARA, CA 93111 home-pic-0
ACTIVE$1,350,000$1,423/sqft
Est. Value: $1,143,538
-15%
AboveEstimate
53 Walnut Lane, SANTA BARBARA, CA 93111
3Beds
2Baths
1,423Sqft
7,405Lot

Price Vs. Estimate

The estimated value ($1,143,538.12) is $206,461.88 (15%) lower than the list price ($1,350,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1423.
Top Cons:
Age-Related Updates Required: As a 1962 build, the property likely requires significant updates to systems (e.g., electrical, plumbing, HVAC) and aesthetics to meet modern standards, implying additional investment.

Compared to the nearby listings

Price:$1.35M vs avg $1.77M ($-417,500)19%
Size:1,423 sqft vs avg 1,807.5 sqft28%
Price/sqft:$949 vs avg $81764%

More Insights

Built in 1962 (64 years old).
Condition: Built in 1962, this property is described as a 'blank canvas' requiring significant updates. The kitchen features original-style wood cabinets, dated tile countertops, and older appliances (except for a newer refrigerator and dishwasher), with a missing backsplash area. Both bathrooms are severely outdated with original-era colored fixtures (pink/peach tub and sink), old vanities, and dated tile work, showing signs of wear and peeling paint. While some living areas have newer hardwood floors and fresh paint, the critical areas (kitchen and bathrooms) require substantial rehabilitation to meet current standards, indicating a need for more than minor updates.
Year Built
1962
Close
-
List price
$1.35M
Original List price
-
Price/Sqft
$949
HOA
$0
Days on market
-
Sold On
-
MLS number
26-70
Home ConditionPoor
Features
Patio
View-

About this home

Welcome to 53 Walnut Lane, a charming single-family home nestled in Santa Barbara's desirable 93111 neighborhood. This residence offers 3 bedrooms and 2 bathrooms in approximately 1,423+/- sq ft of comfortable living space on a generous 7,405+/- sq ft lot. Built in 1962, the timeless floor plan features bright living areas, a cozy fireplace, and seamless indoor-outdoor flow perfect for everyday living and entertaining. A blank canvas ready for the next owner to make it their own. Enjoy mature landscaping, a spacious yard for outdoor enjoyment, and the convenience of an attached 2-car garage. Located minutes from shopping, dining, and parks, this home combines classic appeal with prime Santa Barbara location. Don't miss the opportunity to make this inviting property your own, ideal for first-time buyers, move-up buyers, or anyone seeking a peaceful retreat in the heart of town. Easy access to schools, 101 freeway, and beach communities.

H
Hitchcock & Associates
Listing Agent
Condition Rating
Poor
Built in 1962, this property is described as a 'blank canvas' requiring significant updates. The kitchen features original-style wood cabinets, dated tile countertops, and older appliances (except for a newer refrigerator and dishwasher), with a missing backsplash area. Both bathrooms are severely outdated with original-era colored fixtures (pink/peach tub and sink), old vanities, and dated tile work, showing signs of wear and peeling paint. While some living areas have newer hardwood floors and fresh paint, the critical areas (kitchen and bathrooms) require substantial rehabilitation to meet current standards, indicating a need for more than minor updates.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1423.
Prime Location & Accessibility: Nestled in Santa Barbara's desirable 93111 neighborhood, offering excellent access to shopping, dining, parks, schools, the 101 freeway, and beach communities.
Generous Outdoor Living Space: Features a spacious 7,405+/- sq ft lot with mature landscaping and a large yard, ideal for outdoor enjoyment and entertaining.
Customization & Value-Add Potential: Described as a 'blank canvas,' providing a significant opportunity for the new owner to personalize and enhance the property's value through renovations.
Classic Architectural Appeal: Built in 1962, the home boasts a timeless floor plan and classic charm, appealing to buyers who appreciate traditional design and good bones.
Broad Market Appeal: Positioned as ideal for first-time buyers, move-up buyers, or anyone seeking a peaceful retreat, indicating a wide target audience.

Cons

Age-Related Updates Required: As a 1962 build, the property likely requires significant updates to systems (e.g., electrical, plumbing, HVAC) and aesthetics to meet modern standards, implying additional investment.
Modest Interior Square Footage: With 1,423+/- sq ft, the interior living space is relatively modest for a 3-bedroom home in the Santa Barbara market, potentially limiting appeal for buyers seeking larger interiors.
Implied Renovation Costs: The 'blank canvas' description, while offering potential, also suggests that the property is not move-in ready and will incur substantial renovation costs for the buyer to modernize.
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