Located in the heart of Santa Barbara, 509 Coronel Place presents an exceptional opportunity for both owner-users and investors looking to capitalize on the potential of an R-4 zoned lot, which allows for the development of multiple residential units in a city known for its strong real estate market and high demand for housing. This property currently features a charming 2-bedroom, 1-bathroom California cottage that exudes classic architectural charm and offers immediate livability while also serving as an excellent foundation for future development. Take advantage of this investment opportunity in a prime Santa Barbara location. Perfectly positioned just minutes from Santa Barbara City College, downtown and the beach, this property offers an unbeatable blend of convenience. Plus access to all conveniences. The R-4 zoning provides excellent upside for investors looking to maximize the lot's potential with future development or expansion (buyer to verify with City). The property has the electrical upgraded to 240 V.