526 Crocker Sperry Drive, Montecito, CA 93108, Montecito, 93108 - 4 bed, 6 bath
ACTIVE$9,850,000$5,041/sqft
Est. Value: $9,067,162
-7%
AboveEstimate
526 Crocker Sperry Drive, Montecito, CA 93108
4Beds
6Baths
5,041Sqft
56,628Lot
Price Vs. Estimate
The estimated value ($9,067,161.92) is $782,838.08 (7%) lower than the list price ($9,850,000). This property may be overpriced.
Key pros and cons
Top Pros:
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 = 56628, living area = 5041.
Top Cons:
Potential for Updates: Built in 1981, the property may require significant capital investment for modernization and renovation to align with current luxury market expectations and buyer preferences.
Compared to the nearby listings
Price:$9.85M vs avg $6.00M (+$3,850,000)79%
Size:5,041 sqft vs avg 2,835 sqft81%
Price/sqft:$2.0K vs avg $1.4K79%
More Insights
Built in 1981 (45 years old).
Condition: Built in 1981, this property has undergone significant updates, particularly in the kitchen and bathrooms, which appear to have been renovated within the last 5-15 years. The kitchen features modern stainless steel appliances and clean countertops, while the master bathroom boasts contemporary fixtures and a glass-enclosed shower. Hardwood floors are present in main living areas, and the overall property is well-maintained and move-in ready, aligning with the 'Good' condition criteria. While some elements like specific light fixtures or bedroom carpets may not be ultra-modern, they are functional and in good condition, not requiring immediate renovation.
Year Built
1981
Close
-
List price
$9.85M
Original List price
-
Price/Sqft
$1,954
HOA
$1,265
Days on market
-
Sold On
-
MLS number
25570723
Home ConditionGood
Features
Excellent View:
Pool
Spa
Patio
View-
About this home
R
Robert Riskin
Listing Agent
Condition Rating
Good
Built in 1981, this property has undergone significant updates, particularly in the kitchen and bathrooms, which appear to have been renovated within the last 5-15 years. The kitchen features modern stainless steel appliances and clean countertops, while the master bathroom boasts contemporary fixtures and a glass-enclosed shower. Hardwood floors are present in main living areas, and the overall property is well-maintained and move-in ready, aligning with the 'Good' condition criteria. While some elements like specific light fixtures or bedroom carpets may not be ultra-modern, they are functional and in good condition, not requiring immediate renovation.
Pros & Cons
Pros
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 = 56628, living area = 5041.
Exclusive Montecito Location: Situated in the highly coveted Montecito 93108 zip code, offering prestige, strong market demand, and access to world-class amenities.
Expansive Lot Size: A substantial 56,628 sqft (approximately 1.3 acres) lot provides significant privacy, extensive outdoor living potential, and inherent investment value.
Generous Living Space: With 5041 sqft, the residence offers ample room for comfortable living, entertaining, and accommodating a luxury lifestyle.
High Bath-to-Bed Ratio: The property features 4 bedrooms and 6 bathrooms, suggesting a luxurious layout with extensive amenities and convenience for residents and guests.
Strong Investment Potential: The combination of a prime location, large lot, and substantial square footage positions this property for significant long-term value appreciation in a stable luxury market.
Cons
Potential for Updates: Built in 1981, the property may require significant capital investment for modernization and renovation to align with current luxury market expectations and buyer preferences.
Substantial Association Fees: The monthly association fee of $1265 represents a significant recurring cost, which could be a deterrent for some potential buyers.
Limited Buyer Pool: The high list price of $9.85 million naturally restricts the market to an exclusive segment of ultra-high-net-worth individuals, potentially extending market time.