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

240 Miramar Avenue, MONTECITO, CA 93108 home-pic-0

240 Miramar Avenue

MONTECITO, CA 93108

ACTIVE
CONDITION: GOOD
7Beds
9Baths
8,089Sq Ft
82,328.398Lot Size

Property Price

LIST PRICE$16,500,000
EST. MARKET VALUE
$13,558,986
21% AboveMARKET VALUE

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

$13,558,986
Based on Realkey algorithm analyzing recent comparable sales in MONTECITO.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
240 Miramar Avenue
Subject
$16,500,000*
List Price
798,089$1,676-
A
184 Tiburon Bay Lane
Sold
$12,540,000577,364$1,7030.5 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Good
TeardownExcellent

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

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds7.04.0
94%
Baths9.05.0
96%
Square foot8,0893,784
93%
Lot Size82,328.39843,560
85%
Price$16.50M$5.49M
94%
Price per sq ft$2.0K$1.6K
77%
Built year19001973
3%
HOA$0$0
50%
Days on market10237
1%

Pricing History

Listed for Sale

Feb 25, 2026

$16,500,000

Initial Listing

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