426 W Los Olivos Street, SANTA BARBARA, CA 93105 (MLS# 24-3490)

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426 W Los Olivos Street, SANTA BARBARA, CA 93105

$2,575,000

Virtual Tour

https://my.matterport.com/show/?m=mJ6ZVtKDYWu&mls=1

2 Homes on One Lot, plus bonus structures, with two separate driveways from two different streets

Beautiful hedge around the property, making it extremely private

Separate driveway from 2212 Oak Park Ln.

Property Type: Res Inc Square Footage: 2,928 Lot Size (sq. ft.): 12,197 Status: Closed

Current Price: $2,575,000 List Date: 10/21/2024 Last Modified: 2/15/2025

Overview

Description

This rare multi-unit property offers more than an average duplex—it's two independent and charming Craftsman homes on a spacious .28-acre lot. Each has its own address, driveway, and garage, plus two extra structures. This is a unique opportunity to own an admired Santa Barbara asset with two separate vacant homes, perfect for investment, a family compound, or an owner-occupant seeking rental income. Located near The Mission, Cottage Hospital, and the vibrant De La Vina corridor. The main 3bd/3ba home features period details and a lush backyard. The second 2bd/1ba home is updated with a private yard and hot tub. Owned by the same family for over 50 years, this property reflects pride of ownership and is truly a one-of-a-kind opportunity to own a piece of Santa Barbara's charm and history.

Listing Details MLS# 24-3490

Location Info

District: 20 - SB/WEST OF STATE
Street #: 426
Dir: W
Street Name: Los Olivos
Street Suffix: Street
State: CA
Country: US
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: N12
County: Santa Barbara
Parcel Number: 025-171-038
Cross Street: Oak Park Lane

Contract Info

Price: 2595000
Financing: CTEL
Seller Consider Concessions: Yes
Begin Date: 2024-10-21

Status Information

Sold Date: 2025-02-14
Under Contract Date: 2025-01-16

Property Information

Number of Units: 2
Year Built: 1903
Main House SqFt: 2928
Apx # Acres: 0.28
Apx Lot SqFt: 12197
Recurring Fees: No

Remarks

Hot Sheet Comment: price

Owner Info

Deposit: 3

More Information

Miscellaneous

# Refrigerators: 4
# Stoves: 2

Unit 1

# Units: Yes
# Bedrooms: 3
# Baths: 3
Furnished: P
Rent: 7500
Monthly Total: 7500
# Half Baths: 0

Unit 2

# Units: Yes
# Bedrooms: 2
# Baths: Yes
Furnished: P
Rent: 5500
Monthly Total: 5500

Meters

Sep Meter Wtr: Y
Sep Meter Elec: Y
Sep Meter Gas: Yes

Parking Info

Total # Garage Spaces: 3
Total # Unconvered Spaces: 5
Garage: Yes
Detached: Yes

Neighborhood/Schools

Elementary School: Adams
Junior High School: LaCumbre
High School: S.B. Sr.

Condition

Excellent: Yes
Good: Yes

Foundation

Raised: Yes

Proximity

Near Bus: Yes
Near Hospital: Yes
Near Park(s): Yes
Near Shopping: Yes

Laundry

In Unit: Yes

Income/Expenses

Total Monthly Income: 13000
Annual Income: 156000
Capitalization Rate: 4.1
Insurance: 2322
Water Expense: 3980
Electric Expense: 2523
Gas Expense: 2702
Trash Expense: 1304
Maintenance Expense: 1985
Total Monthly Exp: 45500
NOI: 110500

Heating

GFA: Yes

Pets

Yes: Yes

Zoning

R-3: Yes

Reports Available

TDS: Yes
Home Inspection: Yes
Pest Inspection: Yes
Prelim: Yes
NHD: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Flr/Wdw Coverings

Hardwood: Yes

Property Features

Condition: Excellent; Good Foundation: Raised Parking Info: Garage; Detached Proximity: Near Bus; Near Hospital; Near Park(s); Near Shopping Laundry: In Unit Heating: GFA Pets: Yes Zoning: R-3 Reports Available: TDS; Home Inspection; Pest Inspection; Prelim; NHD Terms: Cash; Conventional Listing Type: ER

Documents

426 W. Los Olivos - Floor Plan ›

2212 Oak Park Ln - Floor Plan ›

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: February - 15 - 2025

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