Experience the perfect combination of luxury living and downtown walkability in this exquisite Santa Barbara home -- a stunning trifecta of charm, history, and income potential! Extensive renovations to the +/- 3,792 square foot residence -- originally built in the early 1900s -- have primed this unique property with possibilities for vacation or long-term rental configuration. The property includes a main residence with 5 large bedrooms and 3.5 remodeled bathrooms, as well as 2 privately accessed guest units on the lower level. Each suite offers its own bedroom, bathroom, living area, & kitchenette, as well as shared laundry, storage, & outdoor space. Improvements include a newly engineered foundation, new electrical & plumbing systems, a new roof, gorgeous landscaping & outdoor terraces, updated irrigation & lighting, and more! The 2-car garage features Level II electric vehicle charging capabilities, as well as a sewer connection for future ADU possibilities. The Craftsman-style home Mills Act eligible and the recent darling of multiple local publications exhibits a blend of timeless architectural appeal and a refreshingly minimal design aesthetic. The elegant living room and dining area feature high ceilings and provide abundant space for relaxing and entertaining, and the deVOL-designed kitchen is perfect for enjoying gourmet meals with family and friends. Multiple fireplaces and original oak and Douglas fir floors maintain the home's historic charm. The spacious foyer and central staircase offer pleasant separation between the main and upper levels. At the far end of the main level, the primary bedroom offers a tantalizing oasis, complete with an en suite bathroom and a large in-room soaking tub. The adjacent covered deck offers comfortable space to relax alongside the olive and oak trees that dot the property. Located only 1 block off of State Street, this beautiful home offers an exciting chance to enjoy elevated comfort while living in enviable proximity to all that Santa Barbara has to offer, downtown and beyond!