240 Miramar Avenue, MONTECITO, CA 93108, MONTECITO, 93108 - 7 bed, 9 bath

240 Miramar Avenue
MONTECITO, CA 93108
Property Price
SUMMARY
Analysis of 240 Miramar Avenue, MONTECITO, CA 93108 reveals a property with a current list price of $16,500,000, which is 21% above the estimated $13,558,986 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the MONTECITO Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 240 Miramar Avenue Subject | $16,500,000* List Price | 7 | 9 | 8,089 | $1,676 | - |
A 184 Tiburon Bay Lane Sold | $12,540,000 | 5 | 7 | 7,364 | $1,703 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is a high-end Montecito estate that is move-in ready and meticulously maintained. While the residence was completed in 2001 (approximately 25 years ago), placing it slightly outside the typical 'Good' age bracket, the architectural pedigree by Peter Becker and the luxury finishes—including a spa-like primary suite, multiple fireplaces, and a fully equipped outdoor kitchen—indicate a level of quality and upkeep that exceeds the 'Fair' category. The grounds and systems appear well-preserved with no evidence of deferred maintenance.
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 = 82328, living area = 8089.
- Prime Location & Privacy
Situated in the prestigious Hedgerow neighborhood, this gated two-acre estate offers unparalleled seclusion behind mature hedges while remaining minutes from Montecito’s Upper Village and the coastline.
- Exceptional Grounds & Water Security
The park-like acreage features a private well for landscaping, century-old heirloom gardens, and premium outdoor amenities including a pool, bocce court, and a fully equipped outdoor kitchen.
CONSRISKS & DEFICIENCIES
- High Maintenance Intensity
The expansive botanical sanctuary, multiple formal fountains, and shingle-sided exterior require significant and costly ongoing maintenance to preserve the estate's heritage and aesthetic.
- Square Footage Discrepancy
A discrepancy exists between the official 8,089 square feet and the marketing description of 9,000 square feet, which may necessitate careful verification during the appraisal and due diligence period.
About 240 Miramar Avenue
Nestled in the heart of Montecito, 240 Miramar Avenue is a remarkable legacy property offering exceptional privacy, timeless architecture, and nearly two acres of serene, park-like grounds. Originally the historic farmhouse of the renowned Hedge Row estate, the property is now completely enclosed by mature hedges and fencing, with two private gated entrances creating a rare sense of seclusion just moments from the coast and Upper Village. Designed by acclaimed architect Peter Becker and completed in 2001, the Hampton-inspired shingle residence spans approximately 9,000 square feet and combines classic Cape Cod elegance with California indoor-outdoor living. The home features seven bedrooms (with potential for eight), eight full bathrooms, and six fireplaces, with gracious scale and natural light throughout. The primary suite offers a luxurious retreat with dual bathrooms, expansive walk-in closets, and a spa-like soaking tub, while the main living spaces are thoughtfully designed for both grand entertaining and comfortable everyday living. Formal living and dining rooms, a spacious great room, billiards room, and bar area provide multiple gathering spaces with warmth and sophistication. The grounds are equally impressive -- a botanical sanctuary featuring heirloom rose bushes over a century old, mature specimen trees, fruit trees, and manicured gardens. Outdoor amenities include a sparkling pool, three formal fountains, a lighted bocce court, and a fully equipped outdoor kitchen with barbecue, refrigeration, and dining areas. An outdoor shower and dedicated pet washing station add both charm and practicality. Additional features include a three-car garage, separate she shed, gardener's shed, comprehensive security system, private road access, and a private well supplying the landscape and pool. This extraordinary estate offers a rare combination of history, privacy, and refined living in one of Montecito's most coveted locations.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1900
- Lot Size
- 82,328.398 Sq. Ft.
Interior
- Total Bedrooms
- 7
- Total Bathrooms
- 9 (9 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 94% |
| Baths | 9.0 | 5.0 | 96% |
| Square foot | 8,089 | 3,784 | 93% |
| Lot Size | 82,328.398 | 43,560 | 85% |
| Price | $16.50M | $5.49M | 94% |
| Price per sq ft | $2.0K | $1.6K | 77% |
| Built year | 1900 | 1973 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 237 | 1% |
Pricing History
Listed for Sale
Feb 25, 2026
$16,500,000
Initial Listing




































