
Santa Barbara, CA 93101
This Versatile Duplex represents a Prime Investment Opportunity, listed at $1,489,500—positioned well below the $1,533,447 Fair Market Value by 2%. This valuation gap provides $43,947 in Instant Equity. With a Condition Rating of 3, the property features recent capital improvements including a new roof and updated interiors. Its unique layout, offering private garages and fenced patios for each unit, makes it an ideal asset for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 622 & 624 W Valerio Street Subject 0 bd · 0 ba · 1,670 sqft · $918 | $1,489,500* List Price | 0 | 0 | 1,670 | $918 | - |
A 1715 De La Vina Street Active 0 bd · 0 ba · 1,424 sqft · $980 · 0.4 mi | $1,395,000 List Price | 0 | 0 | 1,424 | $980 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although originally built in 1955, the property is well-maintained, functional, and move-in ready. It features significant recent capital improvements including a new roof, gutters, downspouts, and garage doors. Interior spaces benefit from recent updates such as fresh paint and refinished hardwood floors, while the kitchen remains clean and fully functional despite its vintage style.
Unlike traditional duplexes, each unit functions as an independent home with its own attached garage, private fenced garden, and side patio, offering a rare sense of autonomy for occupants.
The property features separately metered utilities for water, gas, and electric, combined with a flexible layout ideal for owner-occupancy with rental income or a pure long-term investment.
Significant value-add updates include a brand-new roof, gutters, and garage doors, plus interior refreshments in one unit like refinished hardwood floors and new paint.
With a total of 1,670 square feet split between two residences, the individual units are relatively compact, which may not suit buyers looking for larger living areas.
Originally built in 1955, the property may require ongoing maintenance or modernization of older systems not addressed by the recent cosmetic and roof upgrades.
2 houses 1 lot! This delightful DUPLEX presents a special opportunity to own two charming single-story 2BD/1BA residences, each with its own attached 1-car garage, w/laundry hookups, fenced front garden and private side patio. One residence offers an excellent owner-occupancy opportunity while the other provides existing rental income--an ideal blend of lifestyle, flexibility and investment potential. Recent improvements include a new roof, garage doors, gutters & downspouts. Unit #622 has refinished hardwood floors, new paint & window coverings. Each unit is separately metered for utilities. Conveniently located on a treelined street near shopping, downtown Santa Barbara and the beach. A rare opportunity to own a versatile Santa Barbara property. Delightful Santa Barbara Duplex, Centrally Located on a Tree-Lined Street! A wonderful opportunity to own a Santa Barbara duplex offering the privacy and functionality of two individual homes--combined with the income potential and flexibility of a multi-unit property. Welcome to 622 & 624 W. Valerio Street, an exceptionally appealing duplex featuring two separate 2-bedroom, 1-bath single-story residences, each designed to provide a true sense of independence and privacy. What sets this property apart is the thoughtful configuration of each residence. Each unit has its own attached one-car garage with laundry hookups, its own fenced front garden & lawn area, and its own private fenced side patio. Rather than feeling like a traditional apartment-style duplex, each residence offers many of the features buyers appreciate in a single-family home. One of the property's most compelling advantages is its flexibility. One unit currently offers an opportunity for a new owner to occupy that residence. The second unit is currently occupied, providing an existing rental income component. For an owner-occupant, this presents the possibility of living in one home while generating rental income from the other. For an investor, the property offers two separate 2-bedroom, 1-bath residences with desirable features that can contribute to long-term rental appeal. For a buyer seeking flexibility, the two-unit configuration provides options that a conventional single-family property simply cannot. WHY IS THIS DUPLEX IS DIFFERENT? Many duplexes offer shared outdoor areas, shared garages or limited parking and laundry facilities. Each residence has its own garage. Each residence has its own laundry hookups. Each residence has its own fenced front garden. Each residence has its own side patio. Each unit has separately metered water, gas & electric utilities. New roof, gutters & downspouts & garage doors ehance its overall value. Unit #622 has refinished hardwood floors, window coverings & paint. The result is a property that offers the convenience of two independent homes while maintaining the advantages of a single real estate investment. Multi-unit properties in Santa Barbara offer a particularly compelling combination of ownership flexibility and income potential. Finding one with two 2-bedroom residences, individual garages and private outdoor spaces make this property especially noteworthy. Whether you're looking to: " Live in one unit and rent the other " Build or expand a Santa Barbara investment portfolio " Own a property with multiple future-use possibilities " Combine personal use with rental income " Acquire a versatile multi-unit property in Santa Barbara That simple combination captures what makes this property special. 622 & 624 W. Valerio Street offer the opportunity to own two separate Santa Barbara residences in one property--with privacy, outdoor space, garages, laundry facilities and income-producing potential. A rare opportunity. A flexible investment. Two places to call home.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,670 | 1,517.75 |
| Lot Size | 5,164 | 6,905.063 |
| Price | $1.49M | $1.98M |
| Price per sq ft | $892 | $1.2K |
| Built year | 1955 | 1955 |
| HOA | $0 | $0 |
| Days on market | 32 | 69 |
Sep 22, 2026
$1,489,500
Initial Listing