The structural analysis of degraded historical buildings requires an adequate 3D model of the object. Structure from motion (SfM) photogrammetry and laser scanning geomatics techniques can satisfy this request by providing geometrically affordable data. The accuracy and resolution depend on the instruments and procedures used to extract the 3D models. This work focused on a 3D survey of Illasi Castle, a strongly degraded historical building located in northern Italy, aimed at structural analysis in the prevision of a static recovery. A low-cost drone, a single-lens reflex (SLR) camera, and a smartphone were used in the survey. From each acquired dataset, using the integration between the images acquired by the drone and the SLR camera, a 3D model of the building was extracted by means of the SfM technique. The data were compared with high-precision and high-resolution terrestrial laser scanning (TLS) acquisitions to evaluate the accuracy and performance of the fast and low-cost SfM approach. The results showed a standard deviation value for the point cloud comparisons in the order of 2–3 cm for the best solution (integrating drone and SLR images) and 4–7 cm using smartphone images. Finally, the integration of the best SfM model of the external walls and the TLS model of the internal portion of the building was used in finite element (FE) analysis to provide a safety assessment of the structure.