
MONTECITO, CA 93108
This Turnkey Montecito Residence is a Strong Value Opportunity, listed at $2,750,000—positioned well below the $2,898,342 Fair Market Value by 5%. This valuation gap offers $148,342 in Instant Equity. Featuring a Condition Rating of 2, this move-in ready home offers mountain views and a 1-acre lot within the prestigious Cold Spring School District. With conceptual plans for expansion, this property is an ideal acquisition for Owner-Occupants seeking lifestyle and Value-Add Investors looking for long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 345 Sierra Vista Road Subject | $2,750,000* List Price | 2 | 2 | 1,284 | $2,257 | - |
A 345 Sierra Vista Road Active | $3,297,000 List Price | 2 | 2 | 1,284 | $2,568 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a comprehensive recent remodel as evidenced by the modern recessed lighting, updated flooring, and fresh interior finishes. The description confirms it is a turnkey, move-in ready residence, which aligns with the criteria for a renovation completed within the last 5 years.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 43560, living area = 1284.
Situated in the highly coveted Cold Spring School District, this property offers a prestigious Montecito address with convenient access to both Upper and Lower Villages.
The expansive 1-acre parcel includes conceptual plans for a primary suite expansion, detached garage, and ADU, providing rare future value-add potential in a supply-constrained market.
With only 1,284 square feet of living space, the current home size is relatively modest compared to the substantial lot size and the $2.75M price point.
The official two-bedroom configuration may restrict the property's appeal to larger families or buyers not looking to immediately undertake expansion projects.
Nestled on a private 1-acre parcel in the highly sought-after Cold Spring School District, this beautifully remodeled and move-in ready single-level residence is truly a rare Montecito opportunity. The property has been fully remodeled inside and out, including a brand-new driveway, ensuring every aspect of the home feels fresh, inviting, and meticulously maintained. The home features two spacious bedrooms, two full baths, and an office with an attached en-suite bathroom that can easily function as a third bedroom, offering flexible living arrangements for any lifestyle. With vaulted wood-beam ceilings, updated interiors, breathtaking mountain views, and mature oak trees, the property feels like a peaceful retreat that is both private and seamlessly connected to nature. The expansive lot provides exceptional outdoor living space, allowing for gatherings, relaxation, or quiet reflection--all while enjoying an uncommon sense of privacy. Despite this tranquility, the residence remains conveniently located just minutes from Montecito's Upper and Lower Villages, Coast Village Road, beaches, hiking trails, shopping, dining, and downtown Santa Barbara. The property also presents exciting options for future expansion. Conceptual architectural plans highlight opportunities such as converting the existing garage into a spacious primary suite, adding a new detached garage, and exploring ADU potential. Whether you're searching for a turnkey Montecito retreat, entry into one of the area's most coveted school districts, or a property with room to grow, 345 Sierra Vista Road delivers a unique blend of privacy, convenience, land, lifestyle, and future upside--a combination that's increasingly rare at this price point.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 9% |
| Baths | 2.0 | 5.0 | 17% |
| Square foot | 1,284 | 3,681 | 15% |
| Lot Size | 43,560 | 40,946.398 | 55% |
| Price | $2.75M | $5.30M | 21% |
| Price per sq ft | $2.1K | $1.7K | 64% |
| Built year | 1977 | 1982 | 45% |
| HOA | $0 | $0 | 50% |
| Days on market | 8 | 221 | 2% |
May 29, 2026
$2,750,000
Initial Listing
Nov 30, 2021
$1,835,000
Public Record