
SANTA BARBARA, CA 93105
This Custom Mediterranean Estate is a Strong Value Opportunity, listed at $4,750,000—positioned well below the $5,059,742 Fair Market Value by 6%. This valuation gap offers $309,742 in Instant Equity for buyers. Boasting a Condition Rating of 4, the 5,215 sqft residence features panoramic ocean and mountain views, a private pool, and a versatile guest suite. While meticulously maintained, the original 1997 finishes provide significant upside for modernization in a prestigious neighborhood. This is an ideal acquisition for Owner-Occupants seeking a private sanctuary or Luxury Value-Add Buyers looking to build wealth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 450 El Cielito Road Subject | $4,750,000* List Price | 4 | 4 | 5,215 | $970 | - |
A 450 El Cielito Road Active | $4,995,000 List Price | 4 | 5 | 5,215 | $958 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997, the property is 29 years old and appears to retain its original Mediterranean custom finishes. While meticulously maintained and move-in ready, the kitchen features dated dark wood cabinetry and older black appliances, and the overall interior styling reflects its nearly 30-year age without recent major renovations.
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 = 5215.
Situated in the prestigious Las Canoas/El Cielito neighborhood, the home captures rare, sweeping views of the Santa Ynez Mountains, the Pacific Ocean, and the Channel Islands.
The expansive 5,215 sqft floor plan includes a separate guest suite with its own entrance and kitchenette, offering excellent flexibility for multigenerational living or long-term guests.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
Built in 1997 and maintained by the original owners, the Mediterranean-style finishes and systems may require updates to meet the aesthetic expectations of modern luxury buyers.
The large, one-acre hillside lot with mature natural vegetation and a pool demands significant ongoing maintenance and fire-safety brush clearance.
Tucked into the hillside of Santa Barbara's coveted Las Canoas/El Cielito neighborhood, this custom-built Mediterranean residence has been cherished by the same owners for decades. Built in 1997 and thoughtfully oriented to capture sweeping views of the Santa Ynez Mountains, the ocean, and Channel Islands, the home reflects a deep appreciation for both craftsmanship and nature. A gated entrance leads to a private, oak-studded acre where mature trees and established, natural vegetation create a sense of serene arrival. Inside, high ceilings and generously scaled rooms offer a sense of elegance, volume and proportion that is increasingly rare. An array of windows and doors seamlessly connect to the surrounding landscape. Multiple living areas provide flexibility for entertaining, relaxing, or multigenerational living. The well-appointed kitchen features a center island, walk-in pantry, and views across the pool toward La Cumbre Peak. The generous primary suite offers a peaceful retreat with a sitting area and balcony. A separate guest suite with its own entrance and kitchenette adds versatility for extended stays or hosting with ease. Outdoors, the lifestyle fully unfolds - a sun-filled pool patio surrounded by panoramic mountain views creates a natural backdrop for long afternoons and effortless entertaining. Beyond the property, Las Canoas offers an exceptional connection to nature: cyclists depart from Gibraltar Road, and Parma Park trails are moments away. Lovingly maintained and thoughtfully designed, this is a home defined by space, privacy, and possibility - ready for its next chapter.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 65% |
| Baths | 4.0 | 3.0 | 77% |
| Square foot | 5,215 | 2,087 | 98% |
| Lot Size | 43,560 | 9,365.5 | 81% |
| Price | $4.75M | $2.20M | 95% |
| Price per sq ft | $911 | $1.1K | 29% |
| Built year | 1997 | 1963 | 94% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 151 | 2% |
Apr 28, 2026
$4,750,000
Initial Listing
Apr 20, 1995
$300,000
Public Record