509 Coronel Place

Santa Barbara, CA 93101 $1,280,000.00 (+581.82%) Active for $1,500,000

Overview
Map & Location
Median Values
Schools & Score
Property History
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Beds: 2 Baths: 1 Structure Size: 862 sqft Lot Size: 7,405 sqft

Property Facts

MLS	V124680
Year Built	1881
Property Type	Single Family Residence
County	Santa Barbara
Status	Active
Active	$1,500,000
Structure Size	862 sqft
Lot Size	7,405 sqft
Beds	2
Baths	1

Description

In conclusion, 509 Coronel Place represents an extraordinary real estate opportunity in Santa Barbara, offering a combination of immediate usability, strong income potential, and significant development possibilities. The existing 2-bedroom, 1-bathroom California cottage provides a move-in-ready option for an owner-user while offering ample room for expansion and redevelopment. The R-4 zoning designation allows for high-density residential construction, making this an attractive option for investors seeking to build multi-unit housing in a city with high demand and limited supply. Whether the goal is to develop a small apartment complex, luxury townhomes, or a mixed-use property, the possibilities for maximizing this property's value are vast. With Santa Barbara's real estate market continuing to thrive, now is the perfect time to invest in a property with such unique potential. 509 Coronel Place offers the rare combination of a prime location, flexible development options, and strong appreciation potential, making it one of the best investment opportunities available in Santa Barbara today. Whether for personal use, rental income, or large-scale development, this property stands out as a top-tier investment that will continue to increase in value over time, providing both financial rewards and the opportunity to contribute to Santa Barbara's evolving housing landscape.

Listing information courtesy of: Anthony Bordin, Berkshire Hathaway HomeServices California Properties (805) 729-0527. *Based on information from the Association of REALTORS/Multiple Listing as of 03/17/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.