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613 Maria Ygnacia Lane, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 4 bed, 5 bath

613 Maria Ygnacia Lane, SANTA BARBARA, CA 93111 home-pic-0
ACTIVE$10,500,000/sqft
613 Maria Ygnacia Lane, SANTA BARBARA, CA 93111
4Beds
5Baths
Sqft
696,960Lot

Price Vs. Estimate

Estimation data not available

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 = 283575, living area = 5164.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =696960, other record lot size in square feet = 283575.

Compared to the nearby listings

Price:$10.50M vs avg $1.80M (+$8,695,000)97%
Size: sqft vs avg 1,807.5 sqft25%
Price/sqft:$0 vs avg $78636%

More Insights

Built in 1980 (46 years old).
Condition: The property, built in 1980, consists of multiple residences. While the images of the Italian-style villa show a functional interior with dated but maintained features (e.g., traditional wooden kitchen cabinets, granite countertops, older style tile flooring and bathroom vanities), the MLS description explicitly states that 'two Italian-style villas... would benefit from some loving updates' and, critically, 'a spacious ranch-style home requires a complete remodel or rebuild.' This indicates a need for substantial repairs and rehabilitation across the estate, going beyond minor updates. The non-operational well also adds to the required work. Therefore, the overall condition of the property is assessed as 'Poor' due to the significant investment required for at least one residence and substantial updates for the others.
Year Built
1980
Close
-
List price
$10.5M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
24-2891
Home ConditionPoor
Features
Excellent View:
Deck
Patio
View-

About this home

Best kept secret with this rare offering on Maria Ygnacia Lane in Nolita. Spread across 16 acres, this exclusive estate includes three unique residences on 3 separate APN's, providing ocean views, ultimate privacy, and endless potential. The property features two Italian-style villas in good condition that would benefit from some loving updates to restore their full splendor. Additionally, a spacious ranch-style home requires a complete remodel or rebuild, offering a blank canvas for your custom dream design. Enjoy stunning vistas of the ocean from various vantage points throughout the property and experience the privacy with expansive grounds and a secluded location. The estate also includes a well, though it requires some work to be fully operational. cont.... This exceptional property is a perfect blend of existing charm and limitless possibilities, making it a unique opportunity to create your own paradise. Contact us today to schedule a private tour and be among the first to explore this remarkable estate before it goes live. APN numbers 059-010-080 613 059-010-097 1321 059-010-098 1341

T
Timothy Dahl
Listing Agent

Price History

Date
Event
Price
02/01/00
Sold
$940,000
10/17/96
Sold
$610,000
Condition Rating
Poor
The property, built in 1980, consists of multiple residences. While the images of the Italian-style villa show a functional interior with dated but maintained features (e.g., traditional wooden kitchen cabinets, granite countertops, older style tile flooring and bathroom vanities), the MLS description explicitly states that 'two Italian-style villas... would benefit from some loving updates' and, critically, 'a spacious ranch-style home requires a complete remodel or rebuild.' This indicates a need for substantial repairs and rehabilitation across the estate, going beyond minor updates. The non-operational well also adds to the required work. Therefore, the overall condition of the property is assessed as 'Poor' due to the significant investment required for at least one residence and substantial updates for the others.
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 = 283575, living area = 5164.
Expansive Estate & Privacy: Spread across 16 acres on 3 separate APNs, the property offers ultimate privacy with expansive grounds and a secluded location.
Ocean Views: Enjoy stunning vistas of the ocean from various vantage points throughout the property.
Multiple Residences: The estate includes three unique residences, providing versatility for multi-generational living, guest accommodations, or potential rental income.
Significant Development Potential: Described as a 'blank canvas' with 'endless potential,' offering a unique opportunity for custom design, remodel, or rebuild to create a dream estate.
Prestigious Location: Situated in Santa Barbara, a highly desirable and exclusive area, enhancing the property's long-term value and appeal.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =696960, other record lot size in square feet = 283575.
Extensive Renovation Required: One ranch-style home requires a complete remodel or rebuild, and the two Italian-style villas would benefit from significant updates, implying substantial additional investment post-purchase.
Non-Operational Well: The estate includes a well, but it requires work to be fully operational, adding to potential costs and immediate utility concerns for a buyer.
Dated Condition: Built in 1980, the property's age suggests dated systems and finishes, contributing to the need for extensive updates and potential deferred maintenance across the residences.
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