
Santa Barbara, CA 93109
This property presents a High-Potential Investment Opportunity with a List Price of $1,800,000—positioned well below the $1,880,653 Fair Market Value by 4%. This valuation gap offers $80,653 in Instant Equity for buyers. Featuring a Condition Rating of 5, the home requires a full gut rehabilitation, yet its 9,583 sqft lot and panoramic ocean views provide a rare foundation for luxury redevelopment. This is an ideal acquisition for Fix-and-Flip Investors or visionary developers seeking to maximize value in the Mesa.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 640 Calle Del Oro Subject | $1,800,000* List Price | 3 | 2 | 1,084 | $1,735 | - |
A 726 Juanita Avenue Active | $1,979,000 List Price | 4 | 2 | 1,406 | $1,408 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1962 with no evidence of significant renovation in over 30 years, the property is in original condition. The kitchen features obsolete appliances and dated cabinetry, while the interior shows popcorn ceilings and heavily worn carpeting. The listing's emphasis on 'upside potential' and 'visionary developers' indicates the home requires a full gut rehabilitation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9583, living area = 1084.
Situated on a quiet cul-de-sac in the highly sought-after Mesa neighborhood, the property backs to open city land with no rear neighbors, offering a rare sense of seclusion near the heart of Santa Barbara.
The home captures beautiful ocean views from the living room and two front-facing bedrooms, providing the quintessential coastal California aesthetic that drives high demand in this market.
At only 1,084 square feet for a three-bedroom residence, the current living space is quite compact and may require a costly addition to meet the expectations of modern buyers at this price point.
Built in 1962 and marketed as an opportunity for 'visionary developers,' the home likely requires significant capital investment to modernize its original systems and finishes.
Location! Location! Location! Situated in the highly sought-after Mesa neighborhood in Santa Barbara, this property presents an exceptional opportunity to unlock significant upside potential, all while enjoying with ocean views, exceptional privacy, an unbeatable cul-de-sac location, and rare chance to craft something truly extraordinary. Perched up at the end of a quiet street, this 3-bedroom, 2-bath home offers the perfect blend of coastal living and endless potential. Whether you're a discerning buyer, seasoned investor, visionary developer, or someone looking to create your dream home, this property presents a unique opportunity. The home captures beautiful ocean views from the living room and two front-facing bedrooms. The primary suite features a nicely appointed en-suite three-quarter bathroom. Backing directly to open city land with no neighboring homes behind, the property offers a rare sense of seclusion, seldom found this close to the heart of Santa Barbara. Additional highlights include an extended driveway, two-car garage, drought-tolerant landscaping, and a mature avocado tree that anchors the landscape with both beauty and natural privacy. Beyond the property itself, the location is less than 3 miles from the Santa Barbara Harbor, Stearns Wharf, and vibrant State Street. Residents enjoy effortless access to renowned restaurants, shopping, entertainment, and the very best of coastal California living. Hendry's Beach and the beloved Boathouse Restaurant are less than 2 miles away, offering beachside dining and one of the area's cherished off-leash dog beaches. An exceptional opportunity to own a home with ocean views, privacy, and incredible upside potential in the heart of the Mesa. Don't miss your chance to realize its full potential.
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 | 1,084 | - |
| Lot Size | 9,583 | - |
| Price | $1.80M | $2.43M |
| Price per sq ft | $1.7K | $1.3K |
| Built year | 1962 | 0 |
| HOA | $0 | $0 |
| Days on market | 40 | 60 |
Jun 12, 2026
$1,800,000
Initial Listing
Nov 24, 1993
$254,000
Public Record