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About this home
First time on the market in over 50 years! A unique opportunity for a developer builder to reimagine this property in downtown Santa Barbara. This property could be a fabulous opportunity for a family compound! Property sits on a large fairly flat approximately 10,000.00 +_sq.ft. lot with mountain views. The lot runs into Mission creek. It is zoned R3 multi-unit/hotel. 88 Walk score and 99 bike score paradise. Currently existing original size 2-bedroom 1-bathroom main home and two separate bungalow studios. They all need to be restored and renewed to their original charm. Opportunity to build-out parcel or re-build from scratch considering high density rules. Located near Santa Barbara's downtown, Funk zone, Harbor, Pier, local beaches and SBCC No financing. Appointment only.
Single-familyProperty Type
10,018 sq ftLot Size
1 spaceParking
Listed by Melissa Kane•DRE #01472671• Sun Coast Real Estate
West Downtown, located between State Street and the Santa Barbara Waterfront, is a walkable and historic Santa Barbara neighborhood with Spanish Colonial storefronts and a café-lined grid. The neighborhood’s character concentrates around the State Street and Victoria Street corridor, where patios, galleries, and late-night bites keep the sidewalks active. The Arlington Theatre, Granada Theatre, and Santa Barbara Museum of Art act as cultural anchors with marquee nights and rotating exhibitions. Low-rise blocks mix preserved facades with contemporary infill, keeping the streetscape tight and human-scaled. Pocket plazas and the nearby waterfront path add open-air breaks between errands and shows. A strong dining-and-arts rhythm shapes daily life from morning coffee to curtain call.
Provided by Walk Score and Local Logic
Market insights
726 Castillo St · $2,500,000
DAYS ON MARKET
85 days
The average home goes pending in 38 days.
SALE-TO-LIST
98.4%
Most homes are selling 2% below list price.
LIST PRICE
$2,500,000
Median list price in this area is $1,360,459. (46% lower than this home)
PRICE DROP
0 price drops
20% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Interior features
Drapes
Office
Family room
Breakfast area
Bathrooms
1 full bathroom
Laundry & utility
No laundry hookups
Flooring
Laminate flooring
Carpet flooring
Heating & cooling
No heating
No cooling
Exterior features
Fruit trees
Level and sloped-down terrain
Near public transit
Mountain and partial/filtered views
Studio and shed structures on site
Home design
Tract-style home
Single-story with entry-level (no stairs) and outside stairs
Home/Estate property type
Fixer/poor condition
Parking
Inside entrance parking
No attached garage
Construction
Wood siding
Composition roof
Other foundation
Utilities
No cooling available
No heating available
HOA & community
Association present
Association offers other amenities
Other
Pets allowed
Electricity and solar
View estimated energy costs and solar savings for this home
First time on the market in over 50 years! A unique opportunity for a developer builder to reimagine this property in downtown Santa Barbara. This property could be a fabulous opportunity for a family compound! Property sits on a large fairly flat approximately 10,000.00 +_sq.ft. lot with mountain views. The lot runs into Mission creek. It is zoned R3 multi-unit/hotel. 88 Walk score and 99 bike score paradise. Currently existing original size 2-bedroom 1-bathroom main home and two separate bungalow studios. They all need to be restored and renewed to their original charm. Opportunity to build-out parcel or re-build from scratch considering high density rules. Located near Santa Barbara's downtown, Funk zone, Harbor, Pier, local beaches and SBCC No financing. Appointment only.
SBMLS #26-2547
Jul 31, 2026
Listed
$2,500,000
Year
Property tax
Land + Additions
Assessment*
2025
$1,979 (+1.8%)
$147,690 + $46,053
$193,743
2024
$1,943 (+2.0%)
$144,795 + $45,150
$189,945
2023
$1,906 (+1.9%)
$141,956 + $44,265
$186,221
2022
$1,871 (+2.5%)
$139,173 + $43,398
$182,571
2021
$1,824 (+1.1%)
$136,445 + $42,548
$178,993
2020
$1,804 (+1.9%)
$133,770 + $41,714
$175,484
2019
$1,772 (+1.5%)
$132,399 + $41,287
$173,686
2018
$1,745 (+3.5%)
$129,803 + $40,478
$170,281
2017
$1,686 (−2.4%)
$124,763 + $38,907
$163,670
2016
$1,727 (+1.1%)
$124,763 + $38,907
$163,670
2015
$1,708 (+1.7%)
$122,317 + $38,145
$160,462
2014
$1,680 (+0.4%)
$118,120 + $36,837
$154,957
2013
$1,673 (+5.4%)
$118,120 + $36,837
$154,957
2012
$1,587 (+2.4%)
$117,587 + $36,671
$154,258
2011
$1,550 (+0.7%)
$115,282 + $35,952
$151,234
2009
$1,539 (+5.7%)
$112,178 + $34,985
$147,163
2008
$1,456
$110,241 + $34,382
$144,623
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
10,019 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Single Family Residential
County
Santa Barbara County
APN
037073022
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 17, 2026.
R-MH
Residential Multi-Unit And Hotel District
This zone is intended to provide areas for a variety of multi-unit housing types. It is also the intent of this zone to allow hotels and similar establishments, including related restaurant, recreational, conference center, and other auxiliary uses primarily for use by hotel guests, while protecting the existing housing stock, and preserving the residential character of those neighborhoods that are still primarily residential. Regulations for this zone are designed to control activities of a retail nonresidential nature and those which would tend to be inharmonious with housing.
Permitted uses
Include but are not limited to:
Agriculture
Livestock production
Garden center
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Hotel / motel
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 84° expected this year, 19 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
8/10 Air Factor
13 unhealthy days expected this year, 13 days in 30 years
Provided by First Street
Historical weather
Santa Barbara, CA • 93101
Average low and high temperatures (°F)
67
49
67
51
68
53
67
52
68
55
70
57
75
60
77
62
76
63
73
58
66
53
67
51
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
85/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.3 hrs
5.6 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 726 Castillo St
$2,252,259
$248K under list price of $2.50M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $1.9M to $2.8M.