601 Pico Avenue, Santa Barbara, CA 93103, Santa Barbara, 93103 - 0 bed, 0 bath
Loading property details...
601 Pico Avenue
Santa Barbara, CA 93103
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
1,496Sq Ft
3,920Lot Size
Property Price
LIST PRICE$1,750,000
EST. MARKET VALUE
$1,593,475
9% AboveMARKET VALUE
SUMMARY
This triplex represents a High-Potential Investment Opportunity, listed at $1,750,000—positioned above the $1,593,475 Fair Market Value. Despite the premium, the property features an Excellent Condition Rating following top-of-the-line renovations, including a new roof and high-end finishes. With its prime corner lot location and diverse income streams from two 2BD/1BA units and a detached studio, this asset minimizes immediate capital expenditure. It is a stable, turnkey acquisition ideal for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Estimated Market Value
$1,593,475
Based on Realkey algorithm analyzing recent comparable sales in Santa Barbara.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although built in 1915, the property underwent complete, top-of-the-line renovations just two years ago, meeting the criteria for Excellent (<5y reno). The update includes a brand-new roof, new flooring, and high-end finishes throughout the primary units, indicating mint condition with no immediate maintenance required.
PROSSTRENGTHS & OPPORTUNITIES
- Recent High-End Renovations
Two of the three units underwent complete top-of-the-line renovations just two years ago, including a brand-new roof and high-end finishes, significantly reducing immediate capital expenditure for a new owner.
- Prime Santa Barbara Location
Situated on a desirable corner lot minutes from downtown and beaches, this property is positioned in a high-demand rental market with strong long-term appreciation potential.
- Diverse Income Streams
The triplex configuration, featuring two 2-bedroom units and a detached studio, provides versatile rental options for investors or an owner-occupant looking to offset their mortgage with steady income.
CONSRISKS & DEFICIENCIES
- Limited Square Footage
With a total of 1,496 square feet distributed across three units, the individual living spaces are relatively compact, which could limit the maximum rental ceiling per unit.
- Century-Old Infrastructure
Originally built in 1915, the property may possess aging underlying systems typical of its era that may require future maintenance despite the recent cosmetic and roof upgrades.
About 601 Pico Avenue
Multi-unit investment opportunity on a prime corner lot in Santa Barbara! Triplex features two spacious 2BD/1BA units and a private detached studio. Both 2-bedroom units received top-of-the-line, complete renovations just two years ago and offer charming front porches. Upgrades include a brand-new roof, flooring, and high-end finishes throughout. Ideal for an investor or an owner-occupant looking for steady rental income in a highly sought-after area. Minutes from downtown, beaches, local dining, and major commuter routes.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1915
- Lot Size
- 3,920 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
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 | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,496 | 1,517.75 |
| Lot Size | 3,920 | 6,905.063 |
| Price | $1.75M | $1.98M |
| Price per sq ft | $1.2K | $1.2K |
| Built year | 1915 | 1955 |
| HOA | $0 | $0 |
| Days on market | 23 | 69 |
Pricing History
Listed for Sale
Oct 1, 2026
$1,750,000
Initial Listing
Sold
Jan 5, 2023
$1,240,000
Public Record
Sold
Jun 22, 2005
$925,000
Public Record