2 New SB REO's: 4/2 mesa House $646k, 4000+ SF House: $1.1m, & 2 houses/1 lot:$550k

I wanted to bring three Santa Barbara properties for sale to your immediate attention. Two of them are very well priced REO's and the third is a recently reduced property with two houses on one lot, close to downtown, for $550k.

1) REO 4/2 Mesa House on 1/5 of an acre for $645,480: This is an fantastic deal on the Mesa, a desirable neighborhood in Santa barbara running along the beach. The home is very close to popular Hendry's beach (also known as "dog beach"), Elings Park, and Douglas Preserve. The home needs upgrading, but with the number of bedrooms, and lot size, this could be a great project, main residence, or rental property for either the yearly or vacation rental (weekly) market. All offers will be reviewed on the 2nd, so you have a few days, but I'd recommend seeing this property today or tomorrow, as I will not be available Saturday or Sunday. I'd expect this to sell for $650-700k with multiple offers and may end up being the lowest priced 4 bedroom home sale on the Mesa this year. Here are the details: http://www.flexmls.com/link.html?otct64wep53,9,1

2) REO 4/4.5, 4000+ SF Contemporary home built in 2003 in Mission Canyon for $1,100,00: This is a great offering that I've watched for quite some time. It's a beautiful home located in the desirable Mission Canyon neighborhood, with great proximity to the historic Mission and rose gardens, as well as being only 1-2 miles from downtown. It should for $1.5 million a few years ago and has been on and off the market for a year or two now, with a last list price of $1,349,00. The property is now a bank-owned REO and the bank priced it to sell very quickly. I don't know of any other property in SB where you can find this size home, with the quality of construction and amenities, with nice views of the city and a peak of the ocean for $1.1million. Strong school district, very high ceilings, nice open spaces and a 1/5 of an acre lot (sloped). The buyer needs to be OK with stairs, but this would make a great primary residence, or vacation home. Here are the details: http://www.flexmls.com/link.html?otct36kdekt,9,1

3) Recently reduced 2 remodeled homes on 1 lot for $550k: This property has two small homes (a 2/1 and a 1/1) on a lot with convenient access to downtown. The property is located on the Westside and is close to both the train and the freeway. That said, it poses a great opportunity, for the price, for an investor wanting a strong rental property (estimates of $3300/mo in rent), a buyer wanting to live in one unit and rent out the other for additional income, or two separate buyers to co-invest and each have a small house. Here are the details: http://www.flexmls.com/link.html?otct667ae4e,9,1. If this property is intriguing, I also know of a duplex (two 1/1 units) even closer to downtown and farther from the tracks/freeway. Price is under $550k.

Please feel free to forward this post to anyone you know that may be interested in one of these properties (preferably people who don't have an agent yet). If you have any questions, or want to schedule an appointment to view any of the properties, please contact me ASAP. Have a good day.

Daniel Zia, Broker-Associate & Realtor®

Prudential California Realty

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