625 Parra Grande Lane, Santa Barbara, CA 93108, Santa Barbara, 93108 - 4 bed, 3 bath
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625 Parra Grande Lane
Santa Barbara, CA 93108
ACTIVE
CONDITION: GOOD
4Beds
3Baths
2,978Sq Ft
44,431Lot Size
Property Price
LIST PRICE$4,495,000
EST. MARKET VALUE
$4,622,500
SUMMARY
This Dual-Structure Compound presents a Prime Investment Opportunity with a List Price of $4,495,000—positioned well below the $4,622,500 Fair Market Value by 2%. This valuation gap offers $127,500 in Instant Equity. Featuring a Condition Rating of 3, the property includes a main ranch-style home and a permitted ADU on a private, usable acre. With Mountain Views and a location in the Cold Spring School District, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, high-value Montecito estate.
Estimated Market Value
$4,622,500
Based on Realkey algorithm analyzing recent comparable sales in Santa Barbara.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 625 Parra Grande Lane Subject | $4,495,000* List Price | 4 | 3 | 2,978 | $1,552 | - |
A 1175 E Mountain Drive Sold | $4,700,000 | 3 | 2 | 3,400 | $1,382 | 0.6 mi |
B 1163 Camino Viejo Road Active | $4,700,000 List Price | 4 | 3 | 2,756 | $1,705 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although originally built in 1959, the property has undergone significant renovations that appear to be within the 5-15 year range. The kitchen features high-end Viking appliances and updated cabinetry, and the interior shows well-maintained vaulted wood ceilings and updated flooring. The home is move-in ready and includes a permitted ADU.
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 = 44431, living area = 2978.
- Dual-Structure Compound
The property features a main ranch-style home plus a detached, permitted 1-bedroom ADU, offering exceptional versatility for guests, a home office, or multi-generational living on a single lot.
- Premier Montecito Location
Situated in the prestigious Cold Spring School District between the Upper and Lower Villages, the home offers prime access to luxury amenities, world-class beaches, and scenic hiking trails.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2978, other record living area = 1715. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Dated Infrastructure
Originally built in 1959, the California ranch-style main house may require significant modern updates or a full renovation to meet the expectations of today's luxury buyers.
- Premium Price per Square Foot
With a list price of nearly $4.5 million for under 3,000 square feet of living space, the value is heavily weighted in the land and location rather than the interior scale of the residence.
About 625 Parra Grande Lane
Set at the end of a private lane in the center of Montecito, this south-facing property offers two separate homes on a full, usable acre. A single-level 3 Bed/2 Bath California ranch style main house anchors the property, accompanied by a detached, permitted 1 Bed/1 Bath ADU that lends itself equally well to extended family, visiting friends or a private office. All south-facing rooms in the main house, including the primary suite, open to a generously sized deck - the perfect setting for entertaining. Measured at just over an acre, the land is surrounded by mature fruit trees and open lawns with views of the mountains rising to the north. Located in Cold Spring School District, 625 Parra Grande Lane is a wonderful opportunity to own a multi-structured compound on a private acre in between Montecito's coveted Upper and Lower Villages. Beaches, hiking trails, and the whole of Santa Barbara are just minutes away.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1959
- Lot Size
- 44,431 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 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 |
|---|---|---|
| Beds | 4.0 | 3.6 |
| Baths | 3.0 | 3.3 |
| Square foot | 2,978 | 2,905.353 |
| Lot Size | 44,431 | 21,805.412 |
| Price | $4.50M | $4.86M |
| Price per sq ft | $1.5K | $1.7K |
| Built year | 1959 | 1958 |
| HOA | $0 | $3.2K |
| Days on market | 16 | 84 |
Pricing History
Listed for Sale
Aug 24, 2026
$4,495,000
Initial Listing
Sold
May 11, 2023
$3,700,000
Public Record