2347 E Valley Road, SANTA BARBARA, CA 93108, SANTA BARBARA, 93108 - 6 bed, 6 bath
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2347 E Valley Road
SANTA BARBARA, CA 93108
ACTIVE
CONDITION: FAIR
6Beds
6Baths
7,146Sq Ft
38,333Lot Size
Property Price
LIST PRICE$5,995,000
EST. MARKET VALUE
$5,995,000
SUMMARY
This Spanish Revival Gated Estate represents a Strong Value Opportunity, listed at $5,995,000—aligned with its $5,995,000 Fair Market Value. Currently holding a Fair Condition Rating, the home offers a rare $838/sqft entry into the elite Montecito Union School District. The flat one-acre grounds include a pool, spa, and mountain views, providing a premier canvas for modernization. Spanning 7,146 square feet, the residence balances architectural character with significant upside potential. This is a strategic acquisition for Owner-Occupants or Luxury Value-Add Investors.
Estimated Market Value
$5,995,000
Based on Realkey algorithm analyzing recent comparable sales in SANTA BARBARA.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2347 E Valley Road Subject | $5,995,000* List Price | 6 | 6 | 7,146 | $839 | - |
A 2347 E Valley Road Active | $5,995,000 List Price | 6 | 7 | 7,146 | $839 | - |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1990, this expansive Spanish Revival estate is exceptionally well-maintained but retains many original finishes that are now over 30 years old. While functional and grand, the tile flooring, ornate dark wood built-ins, and overall architectural styling reflect its era of construction and lack the recent comprehensive renovations required for a higher score. It perfectly fits the 'fair' criteria of being an aged but well-kept home that shows signs of being stylistically outdated.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 38333, living area = 7146.
- Exceptional Value
Priced at approximately $838 per square foot, this estate represents one of the most competitive price-to-size ratios in the prestigious Montecito market.
- Premier School District
The property is located within the highly coveted Montecito Union School District, a top-tier draw for families that consistently bolsters long-term property value.
CONSRISKS & DEFICIENCIES
- Potential for Modernization
Built in 1990, the interior may require significant capital investment for cosmetic or systemic updates to align with contemporary ultra-luxury standards.
- Market Positioning History
A substantial price reduction from the original $7.495M listing suggests a previous misalignment with market expectations, which may lead to increased buyer scrutiny.
- High Operational Overhead
The sheer scale of a 7,000+ square foot residence on an acre lot entails significant ongoing maintenance, utility, and landscaping costs for the owner.
About 2347 E Valley Road
Open Sunday 2/5 11:30a-1:30p, Call For Appt. THE BEST VALUE IN ALL OF MONTECITO JUST 838/SF. Opportunities like this are rare in Montecito call today to experience it in person! Situated within the highly sought-after Montecito Union School District, this exceptional Spanish Revival gated estate is, without question, the strongest offering in its price range. With 7,146 sqft of living space on nearly one flat, acre, this property delivers remarkable built-in equity for owner-occupants and an outstanding long-term opportunity. Come see this home in person to fully appreciate its beauty.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1990
- Lot Size
- 38,333 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 6 (6 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.6 |
| Baths | 6.0 | 3.3 |
| Square foot | 7,146 | 2,905.353 |
| Lot Size | 38,333 | 21,805.412 |
| Price | $6.00M | $4.86M |
| Price per sq ft | $839 | $1.7K |
| Built year | 1990 | 1958 |
| HOA | $0 | $3.2K |
| Days on market | 380 | 84 |
Pricing History
Listed for Sale
Feb 11, 2026
$5,995,000
$7,495,000
-20% Price Drop
Initial Listing
Price Change
Aug 25, 2025
$7,495,000
Initial Listing
Sold
Oct 12, 2022
$5,600,000
Public Record
Sold
Apr 20, 2011
$3,315,000
Public Record