
Santa Barbara, CA 93110
This High-Potential Investment Opportunity, known as Vera Villa, is listed at $14,500,000—positioned well below the $14,966,522 Fair Market Value by 3%. This valuation gap offers $466,522 in Instant Equity. With a Condition Rating of 5, the property requires significant modernization, yet its 170 feet of oceanfront frontage and 2.5-acre lot provide a rare canvas for luxury development. This is an ideal acquisition for Luxury Real Estate Developers or High-Net-Worth Owner-Occupants seeking to reimagine a premier coastal estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4121 Creciente Drive Subject | $14,500,000* List Price | 6 | 7 | 4,752 | $3,150 | - |
A 4335 Marina Drive Active | $14,995,000 List Price | 5 | 6 | 5,265 | $2,848 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Originally built in 1941, the property is marketed as a 'rare opportunity to reimagine an estate,' which is industry code for a major rehab project. Interior photos show dated finishes (checkered flooring and wallpaper) likely from a 30+ year old renovation, and the age of the structure suggests that all major systems, kitchens, and baths require complete modernization.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 108029, living area = 4752.
The property features approximately 170 feet of uninterrupted shoreline on a 2.5-acre lot, offering a rare and expansive oceanfront presence in the prestigious Hope Ranch community.
With over two acres of south-facing land, the grounds provide a blank canvas for luxury additions such as equestrian facilities, a tennis court, or a pool pavilion to create a world-class estate.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4752, other record living area = 3255. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.
Built in 1941 and marketed as an opportunity to 'reimagine,' the property likely requires a substantial capital investment to modernize the 4,700-square-foot structure to current luxury standards.
In addition to the $14.5 million list price, the property carries a significant association fee of $3,979, contributing to high ongoing ownership expenses.
Set at the oceanfront edge of Hope Ranch, the residence known as Vera Villa holds one of the more uninterrupted coastal frontages in the area -- roughly 170 feet of shoreline across 2.5 acres, where the Pacific defines the property from first light through dusk. Whales pass offshore and dolphins move through the surf, and the water carries its shifting moods into the home throughout the day. A gated entry opens to grounds planted with an orchard of varied fruit, the approach unfolding past the trees toward the south-facing villa beyond. The residence comprises just over 4,700 square feet under roof, its orientation composed to draw the coastline inward and to live as much with the ocean as beside it.Once a gathering place where an earlier generation of Hollywood marked the close of the day, the home now holds a rare opening for its next chapter.The grounds are arranged for a life lived outdoors as much as in -- room for horses, a tennis court, a pool pavilion, or another vision entirely, each held within the same expansive frontage and southern exposure. Positioned along one of Hope Ranch's few true oceanfront parcels, Vera Villa is a rare opportunity to reimagine an estate at the edge of the continent.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 0.0 |
| Baths | 7.0 | 0.0 |
| Square foot | 4,752 | - |
| Lot Size | 108,029 | - |
| Price | $14.50M | $2.43M |
| Price per sq ft | $3.1K | $1.3K |
| Built year | 1941 | 0 |
| HOA | $3979 | $0 |
| Days on market | 12 | 60 |
Jul 11, 2026
$14,500,000
Initial Listing
Jun 11, 2021
$12,625,000
Public Record