487 Hot Springs Road, SANTA BARBARA, CA 93108, SANTA BARBARA, 93108 - 4 bed, 3 bath
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SANTA BARBARA, CA 93108
This Luxury Montecito Compound is a Strong Value Opportunity, listed at $9,425,000—positioned well below the $10,067,491 Fair Market Value by 6%. This valuation gap offers $642,491 in Instant Equity for the buyer. Boasting a Condition Rating of 2, the estate features a Viking chef’s kitchen, mountain views, and a versatile multi-structure layout including a guest house and casita. Located in the prestigious Montecito School District, this turnkey sanctuary balances lifestyle luxury with significant financial upside. It is an ideal acquisition for Multi-generational Families or High-Net-Worth Investors.
Property is new construction or fully renovated.
The property has undergone a comprehensive, high-end renovation within the last 5 years, effectively bringing the 1953 structure to modern standards. The kitchen is equipped with premium Viking appliances, custom cabinetry, and quartz countertops, while the bathrooms feature contemporary designer finishes and glass-enclosed showers. Throughout the home, there are new light wood floors, recessed LED lighting, and updated HVAC systems, showing no signs of 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 = 2235.
The property features a rare multi-structure layout including a main house, guest house, casita, and detached office, offering exceptional flexibility for multi-generational living or high-end guest accommodations.
Situated on prestigious Hot Springs Road within the sought-after Montecito School District, the estate provides convenient access to both Upper and Lower Villages, hiking trails, and world-class beaches.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2235, other record living area = 1984.
With a secondary gated entrance on East Valley Road, a main thoroughfare, the property may experience some ambient road noise despite the privacy provided by mature hedges.
The listing price of $9.425M for approximately 2,235 square feet represents a significant premium, which may be a point of contention for buyers comparing total interior living space to other local estates.
Magical gated, Montecito compound property with newly remodeled main house, guest house, casita and small detached office in prime location . This serene, private property is encased by lush green hedges, stately mature oak trees and natural landscaping. The property seamlessly blends Santa Barbara indoor/outdoor living with French doors leading to beautiful outdoor spaces .. this wonderful property, in the Montecito School District, captures the essence of Santa Barbara coastal living. The sophisticated and charming main house, with refined detail, offers 4 bedrooms, 3.5 bathrooms and spacious, inviting living room with fireplace and high beam ceilings. The fabulous chef's kitchen, with beautiful white quartz countertops, custom cabinetry and Viking Appliances opens to an inviting family room and spacious dining area for a great room living concept. The Guest house, located privately away from main house, features 2 bedrooms, 2 full baths and spacious living room and dining area and lovely covered veranda. The newly renovated kitchen includes all new high end appliances. Separately, there is a charming remodelled studio casita with full bath and kitchen. The guest house and casita have a separate gated entrance from East Valley road. Additional features include central HVAC, exterior lighting, LED lighting. Near upper and lower villages, hiking, walking and beaches ....
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 4.0 | 33% |
| Square foot | 2,235 | 3,601 | 25% |
| Lot Size | 43,560 | 40,293.1 | 55% |
| Price | $9.43M | $5.31M | 82% |
| Price per sq ft | $4.2K | $1.7K | 97% |
| Built year | 1953 | 1980 | 13% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 238 | 1% |
Mar 31, 2026
$9,425,000
Initial Listing
Dec 13, 2022
$3,075,000
Public Record