
Santa Barbara, CA 93108
This Luxury Mediterranean Estate represents a Strong Value Opportunity, listed at $21,900,000—positioned well below the $23,272,332 Fair Market Value by 5%. This valuation gap offers $1,372,332 in Instant Equity. Featuring an Excellent Condition Rating, the property includes a gourmet kitchen, private well, and panoramic ocean views. Located in the prestigious Golden Quadrangle, this estate offers a refined lifestyle for High-Net-Worth Investors or Owner-Occupants seeking a turnkey, world-class sanctuary in Montecito.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1502 E Mountain Drive Subject | $21,900,000* List Price | 5 | 7 | 8,528 | $2,729 | - |
A 857 Picacho Lane Active | $21,900,000 List Price | 7 | 6 | 8,352 | $2,622 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 1992, the property shows evidence of high-end, recent renovations. The primary bathroom features a modern freestanding tub and contemporary cabinetry, and the gourmet kitchen includes top-of-the-line appliances. Systems are superior, including a generator and private well, placing it in mint, move-in condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 92347, living area = 8528.
Situated in Montecito's prestigious 'Golden Quadrangle,' the estate offers unparalleled exclusivity and proximity to the Upper Village and elite schools.
The 2.12-acre property boasts breathtaking ocean and mountain vistas, complemented by resort-style amenities including a pool, koi pond, and lush orchards.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
Built in 1992, certain architectural elements or interior finishes may require updating to meet the contemporary aesthetic preferences of today's luxury market.
The scale of the 8,528 sqft residence combined with over two acres of intricate landscaping and water features will demand significant ongoing upkeep and operational costs.
Casamar is a rare expression of Montecito's understated elegance, where Mediterranean architecture, refined craftsmanship, and breathtaking ocean and mountain vistas come together in the coveted Golden Quadrangle. Set on approximately 2.12 acres, the estate evokes the romance of a private palazzo with beautifully landscaped grounds and exceptional indoor-outdoor living. The impressive foyer is crowned by a custom domed skylight, leading to a grand living room with an architectural stone fireplace, wood floors, vaulted wood-beam ceilings, and glass French doors that open to sweeping ocean views. The gourmet kitchen features custom cabinetry, skylights, top-of-the-line appliances, an inviting breakfast room, and French doors to a view terrace.Nearby, the media room/library with wet bar offers paneled coffered ceilings, herringbone floors, a dual-faced fireplace, projection system, and wine refrigerator. The main residence includes five en-suite bedrooms, highlighted by an elegant primary suite with wood ceilings, a sitting/office room, dual luxurious baths, generous closets, a spa/massage room, and a private terrace overlooking the coastline. Outdoors, stone terraces, a glistening pool, koi pond, waterfall, fountains, arbor, rose gardens, orchards, and a farm-to-table patio create a beautiful setting for al fresco living. Additional amenities include an expansive motor court, upper-level four-car garage with parking portico, generator, private well, and a charming one-bedroom guest house with ocean views. Conveniently located near the beaches, Upper Village, and Montecito Union School District, Casamar offers timeless Mediterranean elegance in one of Montecito's most coveted settings.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 7.0 | 0.0 |
| Square foot | 8,528 | - |
| Lot Size | 92,347 | - |
| Price | $21.90M | $2.43M |
| Price per sq ft | $2.6K | $1.3K |
| Built year | 1992 | 0 |
| HOA | $0 | $0 |
| Days on market | 43 | 60 |
Jun 9, 2026
$21,900,000
Initial Listing