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526 San Pascual Street

Santa Barbara, CA 93101
  • $1,290,000
  • STATUS: Active
  • ON SITE: 36 Days
  • MLS #: 24-1958
Price Reduced
UPDATED: 102 min ago
$1,290,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Information

Elementary School:
Middle School:
High School:
Listing provided courtesy of Non Member Office.

Description

We are excited to present a rare development opportunity at 526 San Pascual St, in the desirable city of Santa Barbara, CA. This lot encompasses 6,969 square feet (0.16 acres) of land, zoned R-M (R-3) for multi-unit residential development. Located in the heart of Santa Barbara, 526 San Pascual St offers an ideal blend of urban convenience and coastal charm. The property is just minutes away from the vibrant downtown area, renowned for its eclectic mix of shops, restaurants, and cultural attractions. Residents will enjoy easy access to the beautiful Santa Barbara waterfront, with its picturesque beaches and recreational opportunities. The area is also served by top-rated schools and offers a variety of parks and green spaces and is just down the street from Santa Barbara City College, making it a highly desirable location for students, families, professionals or retirees. With its prime location and development potential, 526 San Pascual St presents a unique investment opportunity in one of California's most sought-after coastal cities. Under Santa Barbara's Average Unit-Size Density (AUD) program, a developer can construct four units by-right on this lot. Per California's Accessory Dwelling Unit (ADU) laws, you can add another two ADUs, meaning a developer can build up to 6 total units on this lot. Furthermore, per Santa Barbara's AUD laws, a 4 unit development is not required to have any affordable / low income units, so all 4 units and both ADUs would be fully market-rate. In total, this example development includes six market-rate units (four primary units plus two ADUs) with a combined building area of 5,275 gross square feet. Starting with the four AUD units, this lot's size and zoning allows a developer to have a maximum average unit size of 925 square feet. The project can have units that are larger than, and smaller than, 925 square feet, but it cannot average out to more than that. Therefore, these four AUD units can max out at 3,700 square feet. In addition to these four units, the developer has multiple options of how to add the two ADUs. You can build two detached ADUs, two attached ADUs where you convert non-livable space to units, or you can do one of each. For the AUD units, we imagine a mix of three 2-bed/ 2-bath (850 SF) and one 3-bed / 2-bath (1,150 SF), totaling 3,700 buildable square feet. For the ADUs, we imagine the best option to be one attached 1-bed/ 1-bath ADU up to 575 SF (50% of the largest unit which is a requirement) and one 2-bed / 2-bath detached ADU up to 1,000 SF (max allowable size for a detached ADU). *This information is believed to be correct per Broker's conversations with Santa Barbara City, however Broker makes no representations or warranties and Buyer to rely on own due diligence.

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© 2024 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2024-07-21T16:47:09.227. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2024-07-21T16:47:09.227.
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526 San Pascual Street Santa Barbara, CA 93101

  • Price: $1,290,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 102 min ago
  • MLS #: 24-1958
0
Beds
0
Baths
0
½ Baths
0.16
Acres
Neighborhood:
20 - Westside
County:
Santa Barbara
Area:
SB/West of State
Elementary School:
Other
Middle School:
Other
High School:
Other
Property Description
We are excited to present a rare development opportunity at 526 San Pascual St, in the desirable city of Santa Barbara, CA. This lot encompasses 6,969 square feet (0.16 acres) of land, zoned R-M (R-3) for multi-unit residential development. Located in the heart of Santa Barbara, 526 San Pascual St offers an ideal blend of urban convenience and coastal charm. The property is just minutes away from the vibrant downtown area, renowned for its eclectic mix of shops, restaurants, and cultural attractions. Residents will enjoy easy access to the beautiful Santa Barbara waterfront, with its picturesque beaches and recreational opportunities. The area is also served by top-rated schools and offers a variety of parks and green spaces and is just down the street from Santa Barbara City College, making it a highly desirable location for students, families, professionals or retirees. With its prime location and development potential, 526 San Pascual St presents a unique investment opportunity in one of California's most sought-after coastal cities. Under Santa Barbara's Average Unit-Size Density (AUD) program, a developer can construct four units by-right on this lot. Per California's Accessory Dwelling Unit (ADU) laws, you can add another two ADUs, meaning a developer can build up to 6 total units on this lot. Furthermore, per Santa Barbara's AUD laws, a 4 unit development is not required to have any affordable / low income units, so all 4 units and both ADUs would be fully market-rate. In total, this example development includes six market-rate units (four primary units plus two ADUs) with a combined building area of 5,275 gross square feet. Starting with the four AUD units, this lot's size and zoning allows a developer to have a maximum average unit size of 925 square feet. The project can have units that are larger than, and smaller than, 925 square feet, but it cannot average out to more than that. Therefore, these four AUD units can max out at 3,700 square feet. In addition to these four units, the developer has multiple options of how to add the two ADUs. You can build two detached ADUs, two attached ADUs where you convert non-livable space to units, or you can do one of each. For the AUD units, we imagine a mix of three 2-bed/ 2-bath (850 SF) and one 3-bed / 2-bath (1,150 SF), totaling 3,700 buildable square feet. For the ADUs, we imagine the best option to be one attached 1-bed/ 1-bath ADU up to 575 SF (50% of the largest unit which is a requirement) and one 2-bed / 2-bath detached ADU up to 1,000 SF (max allowable size for a detached ADU). *This information is believed to be correct per Broker's conversations with Santa Barbara City, however Broker makes no representations or warranties and Buyer to rely on own due diligence.
Property Features

Property Sub Type Res Multi-Unit Terms Cash Yes Terms Exchange Yes Zoning R-3

Listing information © 2024 Santa Barbara MLS
Listing provided courtesy of Non Member Office: .



© 2024 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2024-07-21T16:47:09.227. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2024-07-21T16:47:09.227.
 
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Berkshire Hathaway HomeServices California Properties
3868 State St.
Santa Barbara CA, 93105
Listing provided courtesy of Non Member Office.