1445 School House Road, MONTECITO, CA 93108, MONTECITO, 93108 - 4 bed, 4 bath
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MONTECITO, CA 93108
This property presents a High-Potential Investment Opportunity with a List Price of $6,500,000—positioned well below the $6,766,414 Fair Market Value by 3%. This valuation gap offers $266,414 in Instant Equity for buyers. With a Condition Rating of 6, the estate serves as a prime development asset, offering significant expansion potential for a primary residence and ADU. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to build a custom legacy estate in Montecito.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1445 School House Road Subject | $6,500,000* List Price | 4 | 4 | 2,103 | $3,218 | - |
A 1445 School House Road Active | $6,995,000 List Price | 4 | 4 | 2,103 | $3,326 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1947 and marketed as a development opportunity to 'rebuild/replace' the existing structure. The listing emphasizes land value and conceptual plans for a new estate, noting it is the first time on the market in 50 years. Existing kitchen and bathrooms are significantly dated, and several listing images are digitally altered renderings of future potential rather than current state.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 84071, living area = 2103.
The property offers a rare opportunity to rebuild a primary residence up to ~5,864 sqft, plus an ADU and accessory buildings, allowing for a massive expansion of the current living space.
Spanning ±1.93 secluded acres in the heart of Montecito, the estate features mature oaks, mountain views, and a seasonal stream, providing a serene and private natural setting.
Built in 1947, the existing 2,103 sqft home and guest house likely require extensive modernization or a complete teardown to align with modern luxury standards.
With a $6.5M list price primarily reflecting land value and potential, buyers must budget for significant additional investment to execute the conceptual rebuild plans.
New Price! Build your Schoolhouse Rd Dream Home. 1st time on market in 50 yrs. Discover this rare and secluded ±1.93 acre legacy estate in the heart of Montecito, framed by mature oaks, a seasonal stream, mountain views & a pool. Existing ±2,103-sqft 3BD/2.5BA main home plus a detached guest house over a 2-car garage. Per recent land-use review: rebuild/replace with a primary residence up to ~5,864 sqft (+~800 sqft attached garage); add one ADU up to ~1,200 sqft; & up to ~1,445 sqft of detached accessory buildings (e.g. artist studio, pool house). The unusual combination of a legal non-conforming guest house + a future ADU may be possible (buyer to verify w/ County/MBAR). Conceptual architectural plans for this legacy parcel is ready for its next chapter. Your Dream Montecito Estate Awai
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 4.5 | 50% |
| Square foot | 2,103 | 3,646 | 25% |
| Lot Size | 84,071 | 41,382 | 94% |
| Price | $6.50M | $5.30M | 65% |
| Price per sq ft | $3.1K | $1.8K | 92% |
| Built year | 1947 | 1978 | 10% |
| HOA | $0 | $0 | 50% |
| Days on market | 33 | 224 | 2% |
May 12, 2026
$6,500,000
Initial Listing