A Must See! Downtown Santa Barbara Acreage Hits Market for Development
First time on market in over 100 years, this rare property at 1102 San Andres offers a unique development opportunity on Santa Barbara’s Westside. It’s located in a prime location that offers the Santa Barbara AUD overlay program, facilitating the creation of multi-unit housing. The program supports construction of smaller residential units near transit and within easy walking and biking distance to commercial services. Increased densities and development standard incentives are also available. There is currently a 3BD/2BA single family residence on the lot, built in 1960, that could be used as a second home or leveraged for rental income. This unique .28 acres would be the perfect development opportunity for up to 7 units, capitalizing on the lot size and prime location. At just over a mile and a five minute drive to Santa Barbara City College, it would be ideal for a student multi-family development close to all neighborhood amenities, State Street and easy freeway access. It also boasts an excellent walk score and is on the Westside’s 1 Bus route on San Andres. The property has incredible upside potential in land value alone. Builders, developers and Multi-Family asset investors, this is a ripe opportunity for a new residential income building downtown that won’t last long!
