
Santa Barbara, CA 93108
This Mediterranean Estate is a Strong Value Opportunity, listed at $4,750,000—positioned well below the $5,208,422 Fair Market Value by 8%. This valuation gap offers $458,422 in Instant Equity for the buyer. Featuring a 45-acre lot, panoramic ocean and mountain views, and a detached guest house, the property maintains a Condition Rating of 3. While the estate offers timeless character, it provides significant potential for modernization. This rare Montecito offering is an ideal acquisition for High-Net-Worth Investors or Owner-Occupants seeking a private, expansive sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1060 Ladera Lane Subject | $4,750,000* List Price | 4 | 6 | 5,316 | $972 | - |
A 1060/1064 Ladera Lane Active | $4,750,000 List Price | 4 | 5 | 4,516 | $1,052 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1991 (33 years old), the property appears well-maintained and move-in ready with significant updates. The kitchen features high-end stainless steel appliances and the bathrooms have been modernized with frameless glass showers and stone surfaces, suggesting renovations within the 5-15 year range. The systems and structure appear sound, though some aesthetic choices like the terracotta tile reflect the original build date.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 1986336, living area = 5316.
Spanning approximately 45 acres across two separate parcels, this estate offers a rare level of scale and seclusion within the prestigious Montecito hills.
The residence features timeless architectural details including hand-hewn wood beams, a central tile courtyard with a tiered fountain, and warm terracotta finishes that define California elegance.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1986336, other record lot size in square feet = 219542. Living area discrepancy between mls listing and other public or private record. mls listing living area = 5316, other record living area = 2740. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The massive 45-acre lot and extensive stone pathways require significant ongoing landscaping and property management to maintain the estate's natural beauty.
Built in 1991, the property may require updates to its core systems and interior finishes to meet the contemporary luxury standards expected by today's high-end buyers.
Set amid the hills of Montecito, this extraordinary Mediterranean estate spans approximately 45 acres across two separate parcels, offering remarkable privacy, scale, and natural beauty. Framed by rolling terrain, open grounds, and sweeping ocean and mountain vistas, the property presents an exceptional sanctuary with a profound connection to its surroundings. At the heart of the residence, a gracious interior courtyard creates a striking focal point with an expansive tile patio, tiered fountain, and an atmosphere that reflects the relaxed sophistication of California living. The home unfolds with timeless Spanish character, showcasing hand-hewn wood beams, arched passageways, warm terracotta tile, and richly textured finishes that bring depth and authenticity throughout.Designed around the landscape, the interiors feel open, airy, and filled with natural light. Expansive windows and glass doors capture impressive outlooks in multiple directions, while a series of inviting gathering areas, including a formal living room, comfortable lounge spaces, and ocean-view seating areas, provide flexibility, comfort, and an elegant indoor-outdoor rhythm. A charming two-bedroom guest house further enhances the estate, creating a wonderful setting for visitors, a private office, studio, or separate creative space. Thoughtfully positioned within its own peaceful environment, it complements the main residence while preserving the property's overall sense of ease and seclusion. Outdoors, the grounds unfold with stone pathways, view terraces, and intimate sitting areas oriented toward the coastline, Channel Islands, and surrounding mountains. Grand in scale yet deeply tranquil, this rare Montecito offering is a refined sanctuary for those who value privacy, natural splendor, and timeless California elegance.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 6.0 | 0.0 |
| Square foot | 5,316 | - |
| Lot Size | 1,986,336 | - |
| Price | $4.75M | $2.43M |
| Price per sq ft | $894 | $1.3K |
| Built year | 1991 | 0 |
| HOA | $0 | $0 |
| Days on market | 51 | 60 |
Jun 2, 2026
$4,750,000
Initial Listing
Nov 26, 1997
$795,000
Public Record
Jan 3, 1989
$375,000
Public Record