$2,600,000
A Rare Santa Barbara Opportunity. Approved. Permitted. Ready to Build.
Welcome to 501 Garden Street, an exceptional development opportunity combining a prime downtown location with approved plans, permits in hand, and a shovel-ready site. The groundwork has been done. Now it's time to build.
Truly at the heart of all that makes downtown Santa Barbara special, the property is just three blocks from iconic State Street. A leisurely stroll down Garden Street leads to the vibrant Funk Zone, with Santa Barbara's beautiful beaches just beyond.
Currently zoned for commercial use but approved for multifamily development, the property offers an exciting opportunity for developers and investors to bring an approved project to life in one of Santa Barbara's most desirable urban locations. Approved plans include a mixed-use rental development featuring:
Commercial
1 commercial unit - 502 sq. ft.
Residential
Apartment 201 - 2 bed / 2 bath - 1,030 sq. ft.
Apartment 202 - 2 bed / 2 bath - 1,000 sq. ft.
Apartment 203 - 1 bed / 1 bath - 767 sq. ft.
Apartment 301 - 2 bed / 2 bath - 1,030 sq. ft.
Apartment 302 - 2 bed / 2 bath - 1,000 sq. ft.
Apartment 303 - Studio / 1 bath - 562 sq. ft.
Apartment 401: Penthouse 2 bed / 2 bath - 1,170 sq. ft.
7061 sf total
With approved plans, permits already secured, and multiple contractor proposals for construction, the new owner can bypass much of the lengthy planning and approval process and move directly toward breaking ground. A variety of supporting reports and due-diligence materials are also included in the sale. See documents section of the MLS for a complete list of what's included in the sale.
Rarely does an opportunity combine this caliber of location with this level of planning and development readiness.
The location is exceptional. The approvals are in place. The opportunity is yours to build.
501 Garden Street, Santa Barbara
Listing courtesy of Village Properties - 1.