315 Calle Elegante, MONTECITO, CA 93108, MONTECITO, 93108 - 3 bed, 3 bath
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MONTECITO, CA 93108
This Montecito Architectural Residence is listed at $4,750,000, representing a stable entry point near its $4,642,132 Fair Market Value. Maintaining a Move-In Ready Condition Rating, this sanctuary showcases soaring 19-foot ceilings, Viking appliances, and oak flooring. The property is situated within the premier Cold Spring School District on a significant 30,492 sqft lot, offering rare expansion potential and a large terrace for an indoor-outdoor lifestyle. Featuring ocean glimpses and lush gardens, this home balances timeless Santa Barbara style with modern utility. It is an ideal match for a growing family or luxury owner-occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 315 Calle Elegante Subject | $4,750,000* List Price | 3 | 3 | 2,987 | $1,554 | - |
A 734 El Rancho Road Sold | $5,300,000 | 4 | 3 | 0 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition and has been exceptionally well-maintained. Although built in 1988, the home features high-quality oak flooring, updated professional-grade stainless steel appliances (Viking), and modern light fixtures. While the kitchen cabinetry and bathroom tile work reflect an older style consistent with the original build date, they are in excellent functional condition with no signs of deferred maintenance, fitting the 'good' criteria for well-maintained systems and partial updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 30492, living area = 2987.
The property is located within the highly coveted Cold Spring School District, a top-tier educational zone that significantly bolsters long-term property value and demand.
Soaring 19-foot ceilings and an open-concept layout create an exceptional sense of scale and light, enhancing the home's luxury feel and indoor-outdoor flow.
While the property mentions ocean glimpses, the views are limited and filtered through landscaping rather than being panoramic, which may affect its competitive edge in the Montecito market.
A recent price reduction from $4.95M to $4.75M suggests the property's 1988 vintage and current condition may require further modernization to align with buyer expectations at this price point.
Set on a private cul-de-sac, this 3-bed/2.5-bath Montecito home blends timeless Santa Barbara architecture with dreamy interiors and effortless indoor-outdoor flow. Amazing scale, soaring 19-foot ceilings, sun-lit rooms, stone fireplaces, oak floors, and open living spaces all add form and function. Each bedroom opens to lush gardens, while the primary suite features high ceilings, a spa-like bath, and ample closets. With flexibility to expand, the home offers the potential to become a 4-bedroom residence. Outdoors, a large terrace flows to a grassy yard with ocean glimpses peering through lush landscaping. Earthy and effortlessly luxurious, in the coveted Cold Spring School District.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 46% |
| Baths | 3.0 | 4.0 | 33% |
| Square foot | 2,987 | 3,601 | 41% |
| Lot Size | 30,492 | 39,204 | 32% |
| Price | $4.75M | $5.20M | 41% |
| Price per sq ft | $1.6K | $1.7K | 47% |
| Built year | 1988 | 1981 | 62% |
| HOA | $0 | $0 | 50% |
| Days on market | 57 | 239 | 2% |
Mar 24, 2026
$4,750,000
$4,950,000
-4% Price Drop
Initial Listing
Feb 24, 2026
$4,950,000
Initial Listing
Jun 2, 2022
$4,019,000
Public Record
Nov 26, 2001
$1,350,000
Public Record