Sold
1317 Punta Gorda Street
SANTA BARBARA CA, 93103
$3,850,000
Sold
2 Beds
2.5 Baths
Residential
Courtesy of Steven J Golis, Radius Group Commercial R.E.
1317 Punta Gorda St. is an excellent and rare ''Shovel-Ready'' development opportunity located in an up-and-coming neighborhood within Santa Barbara. All entitlements and soft costs have been completed and paid for by current ownership and will be delivered at COE. The parcel of land, a +-.55 acre lot, is situated within the average unit density program (AUD), medium-high density overlay, granting a development potential of 15 - 27 units per acre. Recently, the City of Santa Barbara has discussed that it wants to discontinue the AUD program within the neighboring area, making this approved project potentially insulated from competing developments. Newly constructed buildings are not subject to AB1482 rent restrictions. Time to completion of the project is expected to be 18 months. The project, designed by local architect Tom Ochsner, consists of (7) 2-story, 2-unit buildings, totaling 14 units. The units are 2-story townhomes with 2.5 baths. Freestanding buildings like this can be more attractive to tenants and command above average rents.
21-3857
MLSⓇ ID
October 18, 2021
Listed
March 28, 2024
Updated
Map
1317 Punta Gorda Street
SANTA BARBARA CA, 93103
Interior Features
Total Stories
2
Bedrooms
2 Beds
Bathrooms
2.5 Baths
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.55 Acres
School Information
High School
S.B. Sr.
Elementary School
Cleveland
Other Property Details
Area Name
15 - SB/EAST OF STATE
Garage
No
View
No
County
Santa Barbara
Pool
No
Zoning
R-3
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
6/30/2023 | Sold | $3,850,000 |
Listed by Radius Group Commercial R.E., Steven J Golis,
Listing Contact:
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Data last updated 4:18 AM UTC, 3/28/2024