543 1/2 Arroyo Ave, Santa Barbara, CA, 93109
About This Home
FULLY LEASED for 26/27 AY, with over 60k in capital improvements since July 2025. View Matterport 3D tour here: https://my.matterport.com/show/?m=eRxPZ2jsDS2 Currently operating as premium student housing, Arroyo House serves students from SBCC, UCSB, and Westmont College. This exceptional property features 10 fully furnished rooms with 26 total beds, currently configured as (3) Doubles, (5) Triples, (1) Quad, and (1) Single. Each unit has been tastefully upgraded with high-end furniture and modern finishes, offering a comfortable and stylish living environment.... Outdoor amenities include new landscaping, a volleyball court, and ample private parking -- enhancing both tenant experience and long-term value. Additionally, the solar system is fully paid off, and a 400-amp commercial-grade electrical panel has been added. The property has seen approximately 60,000 in capital improvements since July 2025, including a brand-new sewage tank with high-capacity ejection pumps. This upgrade is expected to extend pump life from roughly 2 years to 8-10 years, eliminating what had historically been the property's most recurring maintenance burden. Whether you're looking for a cash-flowing asset or a unique student housing opportunity, Arroyo House checks all the boxes. This large single-family residence offers a high-occupancy dwelling ideal for use as a sober living home, recovery housing, transitional housing, supportive housing, group home, or other structured living environment, with flexibility for shared supportive residence, community-based housing, co-living property, shared housing, or room-by-room rental opportunities.
Getting Around
Car-Dependent
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1989
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Laundry features: Laundry Room,In Unit
Bedrooms & Bathrooms
- Bedrooms: 10
- Bathrooms: 7
- Full bathrooms: 6
- 1/2 bathrooms: 1
Interior Area
- Total structure area: 4,217
- Total interior livable area: 4,217 sqft
Property
Details
- Parcel number: 035040036
- Zoning: E-1
Lot
- Lot size: 1.27 Acres
Parking
- Total spaces: 14
- Parking features: Open
- Has uncovered spaces: Yes
- Uncovered spaces: 14
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Landslide
How This Home’s Risks Compare
FEMA Declared Disasters in Santa Barbara County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $19,695 | $236,340 |
| Home Insurance * | $341 | $4,092 |
| Property Taxes | $3,425 | $41,100 |
| Electricity | $904 | $10,851 |
| Total | $24,365 | $292,380 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-13 | Price change | $3,895,000 |
| 2026-06-01 | Listed for sale | $4,195,000 |
| 2022-04-23 | Listing removed | -- |
| 2022-04-20 | Price change | $965 |
| 2022-04-19 | Listed for rent | $28,950 |
| 2022-04-15 | Sold | $3,070,000 |
| 2016-09-16 | Sold | $1,782,000 |
| 2016-06-08 | Listing removed | $1,995,000 |
| 2016-04-30 | Price change | $1,995,000 |
| 2016-04-28 | Price change | $1,895,000 |
| 2016-03-23 | Listed for sale | $1,995,000 |
| 2009-10-25 | Listing removed | $1,897,000 |
| 2009-01-31 | Price change | $1,897,000 |
| 2008-12-15 | Listed for sale | $2,099,000 |
| 2005-11-09 | Sold | $1,869,000 |
| 1997-02-28 | Sold | $600,000 |
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