989 N San Marcos Road, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 5 bed, 3 bath
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SANTA BARBARA, CA 93111
This Single Family Residence represents a Strong Value Opportunity, listed at $2,398,000—positioned well below the $2,238,006 Fair Market Value by -7%. While the property is priced slightly above market, it offers a unique Condition Rating of 3, featuring a Detached Guest Quarters and a 16,117 sqft lot. The home provides significant lifestyle value through access to the Giorgi Park recreation facility. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a historic, multi-generational living space in Santa Barbara.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 989 N San Marcos Road Subject | $2,398,000* List Price | 5 | 3 | 2,149 | $1,041 | - |
A 5308 University Drive Sold | $1,795,000 | 3 | 3 | 2,118 | $847 | 1.0 mi |
B 5114 Walnut Park Drive Sold | $2,075,000 | 5 | 4 | 2,394 | $867 | 0.5 mi |
C 476 Venado Drive Pending | $1,895,000 List Price | 3 | 2 | 1,718 | $1,103 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1962, the home is meticulously maintained and features significant updates. The kitchen has been modernized with white cabinetry and stone countertops, and the main living areas feature updated flooring and recessed lighting. While some areas remain dated—specifically the original 1960s tile in the bathrooms and the wood-paneled den—the property is functional, well-preserved, and move-in ready.
The property features a private, detached guest house with a kitchenette and full bathroom, providing excellent versatility for multi-generational living, a home office, or guest accommodations.
Set on over 16,000 square feet along a historic stagecoach route, the large lot offers a park-like setting with mature oaks, fruit trees, and significant privacy rarely found in this price point.
Residents enjoy rare access to the private Giorgi Park recreation facility, which includes a swimming pool, sports court, and picnic areas, adding substantial lifestyle value.
Offered for the first time since 1962, the home likely requires significant capital investment to modernize its original systems, fixtures, and finishes to meet contemporary luxury standards.
With 2,149 square feet distributed across five bedrooms and two separate structures, the individual room sizes and living areas may feel constrained compared to modern open-concept designs.
989 N. San Marcos Road presents a rare opportunity to own a timeless ranch-style home offered for the very first time since it was built in 1962. Designed by Paul Greene, this distinctive home sits along the historic stagecoach route that connected Santa Barbara to Mattei's Tavern in Los Olivos, serving travelers and commerce from 1860 to 1901. The meticulously maintained four-bedroom, two-bathroom main residence is complemented by detached private guest quarters complete with a kitchenette and full bathroom--ideal for extended family, guests, or creative flexibility. Mature trees soar skyward in the expansive backyard, creating a peaceful retreat dotted with fruit trees, California native flora, and inviting outdoor spaces, including a gas fire pit perfect for gathering under the sta Residents also enjoy access to the private Giorgi Park recreation facility featuring a swimming pool, sports court, and picnic area. Rich in local history, the neighborhood is tucked within a grove of Majestic Oaks, Bay, and Sycamore trees, an area once used as a camping ground for wagon groups traveling through early Santa Barbara. Moments from Santa Barbara's cherished Tucker's Grove Park, scenic hiking trails, and nearby schools, this is a property where nature, history, and community come together in an unforgettable setting.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.5 | 89% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,149 | 1,924.5 | 61% |
| Lot Size | 16,117 | 9,583 | 77% |
| Price | $2.40M | $1.58M | 77% |
| Price per sq ft | $1.1K | $891 | 77% |
| Built year | 1962 | 1963 | 45% |
| HOA | $100 | $0 | 68% |
| Days on market | 18 | 185 | 2% |
May 29, 2026
$2,398,000
Initial Listing