487 Hot Springs Road, SANTA BARBARA, CA 93108, SANTA BARBARA, 93108 - 7 bed, 7 bath
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SANTA BARBARA, CA 93108
Analysis of 487 Hot Springs Road, SANTA BARBARA, CA 93108 reveals a property with a current list price of $9,995,000, which is 4% above the estimated $9,516,665 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the SANTA BARBARA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 487 Hot Springs Road Subject | $9,995,000* List Price | 7 | 7 | 4,211 | $2,260 | - |
A 1077 Summit Road Active | $7,895,000 List Price | 5 | 5 | 3,867 | $2,042 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1953, this property has undergone an extensive, high-quality, and very recent renovation, evident in both the main residence and the guest house. The kitchens feature professional-grade Viking and True® appliances, new shaker cabinetry, pristine quartz countertops, and modern lighting. Bathrooms are fully updated with stylish vanities, contemporary brass/gold fixtures, glass-enclosed showers with subway tiling, and chic patterned or checkered flooring. All visible components, including light-colored hardwood floors and recessed lighting throughout, appear new or virtually new, meeting current design trends and quality standards with no deferred maintenance.
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 = 4211.
Located within Montecito's highly desirable 'Golden Quadrangle' and the prestigious Montecito Union School District, offering significant prestige and educational advantages.
Features two completely detached residences on a single parcel, providing exceptional flexibility and privacy.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4211, other record living area = 1984. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 4.
Built in 1953, the property's core structure is over 70 years old, which may imply potential for unseen maintenance or infrastructure updates beyond the described cosmetic renovations.
The nearly $10 million list price targets a very exclusive and niche market, potentially limiting the pool of prospective buyers and extending the time on market.
Located within Montecito's ''Golden Quadrangle'' and Montecito Union School District, this property presents a unique opportunity: two detached residences on a flat usable acre. This configuration offers flexibility for multi-generational living or potential rental income, with separate street entrances and private gate entries. The main residence features updated finishes, including a kitchen equipped with professional-grade Viking appliances and a built-in True® Refrigeration. Its gated entrance is located on a private cul-de-sac lane. The second, completely separated guest house, provides an independent living space, ideal for guests, extended family, or as a source of rental income, with its own private gate access, electric meter, EV charger, and guest studio.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 97% |
| Baths | 7.0 | 4.0 | 86% |
| Square foot | 4,211 | 3,601 | 73% |
| Lot Size | 43,560 | 40,293.1 | 55% |
| Price | $9.99M | $5.31M | 84% |
| Price per sq ft | $2.4K | $1.7K | 86% |
| Built year | 1953 | 1980 | 13% |
| HOA | $0 | $0 | 50% |
| Days on market | 321 | 239 | 76% |
Jun 5, 2025
$9,995,000
Initial Listing
Dec 13, 2022
$3,075,000
Public Record