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:  

This information is being provided for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that you may be interested in purchasing. Data relating to real estate for sale on this Website comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. All information is deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither the Santa Barbara Multiple Listing Service, the listing broker(s), the owner of this site, nor Luxury Presence shall be responsible for any typographical errors, misinformation, or misprints.

©2024 Santa Barbara Association of REALTORS. All rights reserved.

Data last updated 4:18 AM UTC, 3/28/2024

Powered byLuxury Presence