4241 Mariposa Drive, SANTA BARBARA, CA 93110, SANTA BARBARA, 93110 - 4 bed, 5 bath
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SANTA BARBARA, CA 93110
This Historic Hope Ranch Legacy Estate is a premier Value-Add Asset listed at $8,900,000, currently positioned above its $7,149,217 Fair Market Value. Situated on 2.85 park-like acres, the property features professional equestrian facilities with three-stall stables, a pool and spa, and exclusive private beach access. The residence maintains a Value 4 Condition Rating, as the 1940s interiors require significant modernization to align with contemporary luxury standards. This expansive coastal acreage represents a rare restoration project for Luxury Renovators or Equestrian Enthusiasts seeking a high-end legacy property.
Property is moderate renovation needed.
This 1940s estate is well-maintained and reflects long-term pride of ownership, but it is significantly outdated by modern luxury standards. The interior features classic but aged elements such as heavy wood paneling, older light fixtures, and traditional built-ins that likely haven't seen a major renovation in several decades. While the property appears functional and 'move-in ready' in a vintage sense, it requires comprehensive cosmetic and system updates to align with current market expectations for this price point.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 124146, living area = 4766.
Situated on 2.85 park-like acres, the property is fully equipped for horse enthusiasts with three-stall stables, a paddock, and direct access to over 20 miles of bridal trails.
Located in the prestigious Hope Ranch enclave, residents enjoy rare private beach access and a high level of privacy and security in a world-class coastal community.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 5.
Built in 1940 and held by the same family for nearly 50 years, the home likely requires significant cosmetic and structural updates to meet contemporary luxury standards.
With 169 days on the market and a recent price reduction from $9.1M to $8.9M, the property may be facing challenges regarding its current condition relative to its valuation.
In one of Hope Ranch's most coveted enclaves, peacefully set on 2.85 park-like acres, this timeless home features 4 bedrooms, 4.5 baths, w/ separate guest wing, and guest house. Blending classic Santa Barbara charm w/ relaxed ranch-style living, it's been lovingly cared for by the same family for nearly 50 yrs. This classic home built in 1940 offers formal living + dining rooms, den w/ bar, private office, sun-filled patios, pool, BBQ terrace, sweeping lawns, and three-stall stables & paddock. This historic hideaway surrounded by unsurpassed natural beauty w/ Hope Ranch's privately accessed beach and over 20 acres of bridal trails. This is a rare Hope Ranch legacy estate offering space, serenity, and timeless sophistication in one of the most prestigious California coastline communities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 5.0 | 0.0 |
| Square foot | 4,766 | - |
| Lot Size | 124,146 | - |
| Price | $8.90M | $2.43M |
| Price per sq ft | $1.9K | $1.3K |
| Built year | 1940 | 0 |
| HOA | $0 | $0 |
| Days on market | 267 | 60 |
Feb 26, 2026
$8,900,000
$9,100,000
-2% Price Drop
Initial Listing
Oct 29, 2025
$9,100,000
Initial Listing