3191 Padaro Lane, CARPINTERIA, CA 93013, CARPINTERIA, 93013 - 5 bed, 7 bath
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CARPINTERIA, CA 93013
This Historic Oceanfront Legacy Estate represents a Strong Value Opportunity with a List Price of $42,000,000—positioned well below the $46,164,121 Fair Market Value by 9%. This valuation gap provides $4,164,121 in Instant Equity for a strategic acquisition. Despite its Fair Condition Rating, the property features 335 feet of private ocean frontage, panoramic mountain views, and a historic patio across 5.47 acres. This rare coastal acreage offers significant upside through restoration. It is an ideal match for Luxury Developers or Owner-Occupants seeking a generational sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3191 Padaro Lane Subject | $42,000,000* List Price | 5 | 7 | 7,544 | $6,119 | - |
A 3055 Padaro Lane Active | $44,999,000 List Price | 4 | 7 | 6,913 | $6,509 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1920, this historic estate is exceptionally well-maintained but shows signs of its age, such as older radiator heating systems. While the interior is elegant and appears move-in ready due to high-end staging, the listing description and property analysis explicitly highlight the need for restoration and modernization to meet current luxury standards, placing it in the 'fair' category for its age and lack of recent comprehensive renovation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 238273, living area = 7544.
The estate features an impressive 335± feet of private ocean frontage across two parcels with direct beach access, representing a rare and significant legacy land holding on Padaro Lane.
Spanning 5.47± acres of park-like grounds with a private water well, the property offers a level of scale, privacy, and self-sufficiency that is nearly impossible to replicate in prime coastal California.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =238273, other record lot size in square feet = 150717. Living area discrepancy between mls listing and other public or private record. mls listing living area = 7544, other record living area = 7013. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 8.
Built in 1920, the residence likely requires a comprehensive and capital-intensive modernization to align the century-old infrastructure with contemporary luxury standards.
The combination of a massive 5.47-acre lot and a historic oceanfront structure necessitates substantial ongoing maintenance costs and specialized care due to salt-air exposure.
Commanding 5.47± acres along one of the most premier stretches of Padaro Lane, this extraordinary estate captures the essence of a once-in-a-generation offering. With 335± feet of ocean frontage spanning two parcels--each with private beach access--the setting is nothing short of remarkable, anchoring one of the area's most significant legacy properties. The park-like grounds are supported by a private water well, enhancing both beauty and self-sufficiency. Originally built circa 1920 and attributed to a collaboration between James Osborne Craig and Francis W. Wilson, the residence carries the imprint of a distinguished architectural heritage. Today, it offers a compelling opportunity to restore, enhance, or re-envision the estate, honoring its legacy while shaping its next chapter.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 86% |
| Baths | 7.0 | 2.0 | 97% |
| Square foot | 7,544 | 1,618 | 97% |
| Lot Size | 238,273 | 6,969 | 95% |
| Price | $42.00M | $1.68M | 97% |
| Price per sq ft | $5.6K | $1.2K | 97% |
| Built year | 1920 | 1964 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 196 | 3% |
Mar 31, 2026
$42,000,000
Initial Listing