
Santa Barbara, CA 93108
This Contemporary Montecito Residence represents a Strong Value Opportunity, listed at $10,200,000—positioned well below the $11,324,722 Fair Market Value by 9%. This valuation gap offers $1,124,722 in Instant Equity. Featuring a Condition Rating of 3, the home offers a turnkey lifestyle with panoramic ocean and mountain views and an ocean-facing loggia. This property is an ideal acquisition for High-Net-Worth Investors or Owner-Occupants seeking a prestigious, move-in ready sanctuary in the exclusive Pepper Hill enclave.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 346 Woodley Road Subject 3 bd · 3 ba · 3,090 sqft · $3,665 | $10,200,000* List Price | 3 | 3 | 3,090 | $3,665 | - |
A 487 Hot Springs Road Active 4 bd · 3 ba · 2,235 sqft · $4,217 · 0.6 mi | $9,425,000 List Price | 4 | 3 | 2,235 | $4,217 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1974, the property has undergone significant high-end renovations. The bathroom features modern frameless glass, updated stone tiling, and contemporary cabinetry consistent with a 5-15 year renovation cycle. The exterior and grounds are meticulously maintained, making it move-in ready.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 43996, living area = 3090.
Situated in the exclusive Pepper Hill enclave, this property offers high prestige and privacy in one of Santa Barbara's most sought-after and secure neighborhoods.
The residence captures a rare triple-panorama of the Santa Ynez mountains, the Pacific Ocean, and the Santa Barbara harbor, significantly boosting its long-term value and appeal.
The association fee of $2,573 is substantial, which may be a deterrent for buyers sensitive to high recurring monthly expenses.
Built in 1974, the property may require significant capital investment to modernize systems and finishes to meet the ultra-luxury standards expected at a $10M+ price point.
Within Montecito's exclusive Pepper Hill enclave, this distinctive contemporary residence captures breathtaking mountain, ocean and harbor views. Sculptural lines and dramatic expanses of glass define the architecture, while oversized double front doors reveal gracious interiors and a coastal panorama that draws you in from the moment you enter. The spacious living room features high ceilings and windows that welcome natural light, with a fireplace lending warmth to the setting. An adjoining formal dining room provides a refined backdrop for entertaining, complemented by a wet bar. Generous bedrooms, each with its own en-suite bathroom, offer inviting private retreats. Outside, a broad patio and ocean-facing loggia extend the living areas into the beautifully manicured gardens.Here, leisurely afternoons give way to alfresco dinners at sunset and evenings beside the outdoor fireplace as the lights of Santa Barbara begin to glow. Lawns, flowering borders, and mature trees bring a lush contrast to the home's clean architectural lines.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.4 |
| Baths | 3.0 | 3.2 |
| Square foot | 3,090 | 2,768.185 |
| Lot Size | 43,996 | 20,827.852 |
| Price | $10.20M | $4.30M |
| Price per sq ft | $3.3K | $1.6K |
| Built year | 1974 | 1959 |
| HOA | $2573 | $3.2K |
| Days on market | 18 | 89 |
Oct 6, 2026
$10,200,000
Initial Listing
Mar 5, 2021
$6,926,000
Public Record