2347 E Valley Road, Santa Barbara, CA 93108, Santa Barbara, 93108 - 6 bed, 6 bath
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Santa Barbara, CA 93108
This Spanish Revival Gated Estate represents a Strong Value Opportunity, listed at $5,995,000—aligning with its $5,995,000 Fair Market Value. While the property maintains a Condition Rating of 4, its massive 7,146 sqft floor plan and one-acre flat lot offer significant forced appreciation potential through cosmetic modernization. Located in the prestigious Montecito Union School District, the grounds include a private pool, spa, and expansive patio. This rare $838/sqft entry point into a premier market is ideal for Owner-Occupants looking to build custom equity or Luxury Value-Add Investors.
Comparables within 1 miles sold in recently
| 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.
Property is moderate renovation needed.
The property is a high-end Spanish Revival estate built in 1990, placing it within the 25-40 year age bracket specified for the 'fair' condition score. While the home is exceptionally well-maintained and move-in ready, the interior finishes—particularly the ornate wood cabinetry in the bathrooms and library—reflect the original construction style rather than modern luxury trends. The listing description and AI analysis both acknowledge the need for modernization and cosmetic updates to meet current market standards, confirming that while the structure is sound and functional, it has not undergone a comprehensive renovation in the last 15 years.
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.
At approximately $838 per square foot, this estate is priced significantly below the Montecito average, offering substantial built-in equity and a rare entry point for a property of this scale.
The property is situated within the highly coveted Montecito Union School District, a primary driver for property values and a major draw for families seeking top-tier education.
Built in 1990, the home may require capital improvements or cosmetic updates to its systems and finishes to meet the aesthetic standards of modern luxury buyers.
Located on East Valley Road, a main thoroughfare in Montecito, the property may experience more ambient road noise than estates located on more secluded side streets.
The sheer size of the residence and the expansive grounds entail significant ongoing costs for utilities, landscaping, and general upkeep that must be factored into the long-term investment.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 92% |
| Baths | 6.0 | 4.0 | 81% |
| Square foot | 7,146 | 3,601 | 91% |
| Lot Size | 38,333 | 40,075.199 | 44% |
| Price | $6.00M | $5.31M | 58% |
| Price per sq ft | $839 | $1.7K | 18% |
| Built year | 1990 | 1981 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 240 | 239 | 55% |
Aug 25, 2025
$5,995,000
Initial Listing
Oct 12, 2022
$5,600,000
Public Record
Apr 20, 2011
$3,315,000
Public Record