Set on approximately five mostly level acres in Santa Ynez, 2380 N. Refugio Road presents a compelling opportunity to update or reimagine a multi-structure estate in a desirable rural setting. The property includes a primary residence, a detached guest residence, a separate studio, and a hybrid building featuring an outdoor dining area, enclosed storage space, and workshop. The main house offers comfortable living with 2 bedrooms, 2.5 baths, and multiple exterior patios with mountain and vineyard views across open acreage. The guest residence has been taken down to the studs, creating a blank canvas for renovation or redesign. The detached studio provides flexibility for creative and recreational space, or potential square footage as an addition to the guest residence. The largely flat and usable acreage offers room for landscaping enhancements, expanded outdoor living areas with room for a pool and spa, equestrian potential, or agricultural pursuits. The setting balances privacy with convenient access to Los Olivos, Ballard, Santa Ynez, and the greater Valley amenities. This offering is well suited for a buyer prepared to undertake improvements and capitalize on the long-term upside of a thoughtfully renovated multi-residence property. Architectural plans, reports, and supporting documentation are available for review. Property is being sold in its present condition. An exceptional opportunity for investors, contractors, or end users seeking a value-add project in Santa Ynez.