613 Maria Ygnacia Lane, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 4 bed, 5 bath
613 Maria Ygnacia Lane
SANTA BARBARA, CA 93111
Property Price
SUMMARY
Analysis of 613 Maria Ygnacia Lane, SANTA BARBARA, CA 93111 is currently available with a list price of $10,500,000. 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 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.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
The property, built in 1980, requires substantial rehabilitation across its three residences. The listing explicitly states that the ranch-style home requires a complete remodel or rebuild, while the two Italian-style villas need updates to restore their condition. Additionally, the non-operational well and lack of interior updates for over 40 years indicate significant deferred maintenance and the need for major system repairs.
PROSSTRENGTHS & OPPORTUNITIES
- 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 = 696960, living area = 5164.
- Expansive 16-Acre Estate
A rare 16-acre offering in Santa Barbara that provides unparalleled privacy and vast grounds, creating a secluded and exclusive retreat.
- Multi-Residence Flexibility
The property includes three unique residences situated on three separate APNs, offering significant potential for multi-generational living or future development.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =696960, other record lot size in square feet = 283575.
- Substantial Renovation Required
The ranch-style home requires a complete remodel or rebuild, and the two villas need significant updates, necessitating a large additional capital investment.
- Non-Operational Well
The property's private well is currently not functional and requires repair work to be fully operational, which may involve technical and permitting hurdles.
About 613 Maria Ygnacia Lane
Best kept secret with this rare offering on Maria Ygnacia Lane in Nolita. Spread across 16 acres, this exclusive estate includes three unique residences on 3 separate APN's, providing ocean views, ultimate privacy, and endless potential. The property features two Italian-style villas in good condition that would benefit from some loving updates to restore their full splendor. Additionally, a spacious ranch-style home requires a complete remodel or rebuild, offering a blank canvas for your custom dream design. Enjoy stunning vistas of the ocean from various vantage points throughout the property and experience the privacy with expansive grounds and a secluded location. The estate also includes a well, though it requires some work to be fully operational. cont.... This exceptional property is a perfect blend of existing charm and limitless possibilities, making it a unique opportunity to create your own paradise. Contact us today to schedule a private tour and be among the first to explore this remarkable estate before it goes live. APN numbers 059-010-080 613 059-010-097 1321 059-010-098 1341
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1980
- Lot Size
- 696,960 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 5 (5 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 5.0 | 2.0 | 90% |
| Square foot | 5,164 | 1,926 | 93% |
| Lot Size | 696,960 | 9,365 | 97% |
| Price | $10.50M | $1.66M | 99% |
| Price per sq ft | $2.0K | $888 | 99% |
| Built year | 1980 | 1965 | 69% |
| HOA | $0 | $0 | 50% |
| Days on market | 550 | 190 | 85% |
Pricing History
Listed for Sale
Sep 3, 2024
$10,500,000
Initial Listing
Sold
Feb 1, 2000
$940,000
Public Record
Sold
Oct 17, 1996
$610,000
Public Record