487 Hot Springs Road, SANTA BARBARA, CA 93108, SANTA BARBARA, 93108 - 7 bed, 7 bath
487 Hot Springs Road
SANTA BARBARA, CA 93108
Property Price
SUMMARY
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.
Estimated Market Value
Comparable Sales Map
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.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
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.
- Prime Location & School District
Located within Montecito's highly desirable 'Golden Quadrangle' and the prestigious Montecito Union School District, offering significant prestige and educational advantages.
- Dual Detached Residences
Features two completely detached residences on a single parcel, providing exceptional flexibility and privacy.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
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.
- Property Age
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.
- High Price Point
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.
About 487 Hot Springs Road
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1953
- Lot Size
- 43,560 Sq. Ft.
Interior
- Total Bedrooms
- 7
- Total Bathrooms
- 7 (7 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 94% |
| Baths | 7.0 | 5.0 | 84% |
| Square foot | 4,211 | 3,784 | 67% |
| Lot Size | 43,560 | 43,560 | 50% |
| Price | $9.99M | $5.49M | 81% |
| Price per sq ft | $2.4K | $1.6K | 87% |
| Built year | 1953 | 1973 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 276 | 240 | 64% |
Pricing History
Listed for Sale
Jun 5, 2025
$9,995,000
Initial Listing
Sold
Dec 13, 2022
$3,075,000
Public Record