526 San Pascual Street

Santa Barbara, CA 93101

$1,190,000
Price
6,970 / 0.16
Lot Size / Acres
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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....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). Additionally, Senate Bill 684 (SB 684) significantly impacts this development opportunity by increasing the feasibility and attractiveness of building multiple units. SB 684 streamlines the approval process for housing developments by granting ministerial approval for projects of up to 10 units on qualifying parcels, thereby reducing bureaucratic hurdles and expediting construction timelines. This legislation also amends the Subdivision Map Act, allowing for faster issuance of building permits once a tentative map has been approved. Furthermore, SB 684 ensures that new developments meet environmental sustainability standards while protecting existing low-income and rent-controlled housing from being displaced. These provisions collectively enhance the development potential at 526 San Pascual St, making it an even more promising investment. 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.
  1. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01238010 • Marcus & Millichap
  2. Listed by Glen Scher • DRE #01962976 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 526 San Pascual Street

Zoning
R-3
Parcel Number
037143018
Area
Santa Barbara (VC81)
Lot Size Area
6970
Source Lot Size Area
Vendor Enhanced
Present Use
Vacant Land
Potential Usage
4 Units + 2 ADUs
Assessor Parcel Number
037-143-018
LISTING UPDATED: 11/04/2024 10:07 AM

Property Details for 526 San Pascual Street

StatusActive
MLS #24-404253
Days on Market157
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size0.16 AC
CountySanta Barbara County

Building Information for 526 San Pascual Street

Lot Size0.16 AC

Property Information for 526 San Pascual Street

Community / Development
Community / Development
  • Senior Community: No
Structure Info
Structure Info
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Special Zoning: None
  • Lot Acreage: 0.16
  • Lot Size Square Feet: 6970
  • Telephone: 1.0
  • Cable: 1.0
Parking Details
Parking Details
  • Total Parking: 0
Exterior Features
Exterior Features
  • New Construction: No
Lease Terms
Lease Terms
  • Entry Date: 06-14-2024

Property History for 526 San Pascual Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 526 San Pascual Street

Taxable ValueLand$546,210Additions-Total$546,210
Tax Record2024$5,784 ($482 / month)
Home Facts
Beds0Lot Size6,969 SqFtStyleResidentialCountySANTA BARBARAAPN037-143-018

Schools near 526 San Pascual Street

This home is within Santa Barbara Unified School District.
Rating
School
Type
Grades
Distance
McKinley Elementary School
Public - K to 6
La Cumbre Junior High School
Public - 7 to 8
San Marcos Senior High School
Public - 9 to 12
Alta Vista Alternative High School
Public - 7 to 8
Rating
School
Distance
McKinley Elementary School
PublicK to 6

La Cumbre Junior High School
Public7 to 8

San Marcos Senior High School
Public9 to 12

Alta Vista Alternative High School
Public7 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 526 San Pascual Street, Santa Barbara, CA 93101

526 San Pascual Street is a 0.16 ac of land for sale in Santa Barbara, CA 93101. This property was listed for sale on June 14, 2024 by Marcus & Millichap, it's currently listed at $1,190,000. This listing's school district is Santa Barbara Unified School District. Nearby schools include McKinley Elementary School, La Cumbre Junior High School and San Marcos Senior High School. 526 San Pascual Street is a 0-bed, 0-bath, 0.16 ac of land on a 6,970 sq. ft. / 0.16 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.