857 Picacho Lane, Santa Barbara, CA 93108, Santa Barbara, 93108 - 7 bed, 6 bath
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Santa Barbara, CA 93108
This Ultra-Luxury Montecito Estate is a Prime Investment Opportunity, listed at $21,900,000—positioned well below the $22,598,045 Fair Market Value by 3%. This valuation gap offers $698,045 in Instant Equity for the discerning buyer. Boasting a Condition Rating of 2, the recently renovated residence features sweeping ocean views, an internal elevator, and expansive patios. The versatile compound includes a guest house and creative cabin on two lush acres. This Move-in Ready Sanctuary is ideal for High-Net-Worth Families or Luxury Lifestyle Seekers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 857 Picacho Lane Subject | $21,900,000* List Price | 7 | 6 | 8,352 | $2,706 | - |
A 880 Picacho Lane Sold | $28,000,000 | 5 | 8 | 10,776 | $2,598 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Built in 2010 and recently underwent a comprehensive renovation, this estate features high-end contemporary finishes throughout. The property includes a modern kitchen, updated bathrooms, premium flooring, and luxury amenities such as an internal elevator, meeting the highest quality standards with no deferred maintenance.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 88862, living area = 8352.
Situated on the highly coveted Picacho Lane, this estate offers sweeping ocean views and a private, gated setting in one of Montecito's most exclusive and sought-after enclaves.
The property features a main residence, a charming guest house, and a creative cabin, providing exceptional flexibility for hosting guests, multi-generational living, or dedicated artistic workspaces.
The property was recently sold within the past year on 2025-06-02. The sold price is $16,800,000.00.
With 7 bedrooms but only 6 bathrooms, the property lacks the typical one-to-one ensuite ratio and additional powder rooms usually expected in an ultra-luxury estate at this price point.
The significant jump in list price compared to its recent sales history may lead to increased buyer scrutiny regarding the total value added by the recent renovations versus current market trends.
Nestled along prestigious Picacho Lane, this newly renovated estate offers sweeping ocean views and timeless elegance. Set behind a graceful lone private driveway, the home invites you in with a welcoming entry porchperfect for morning coffee or evening fireside moments. Inside, a thoughtfully curated design balances modern sophistication with serene comfort, flowing effortlessly through richly appointed living areas.Ideal for every stage of life, the flexible layout includes an elevator for added convenience and features a main residence thoughtfully paired with a charming guest house and creative cabin. Whether hosting or retreating, the estate offers boundless possibilities for luxury, inspiration, and ease.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 97% |
| Baths | 6.0 | 4.0 | 81% |
| Square foot | 8,352 | 3,601 | 97% |
| Lot Size | 88,862 | 40,075.199 | 91% |
| Price | $21.90M | $5.30M | 98% |
| Price per sq ft | $2.6K | $1.7K | 92% |
| Built year | 2010 | 1981 | 95% |
| HOA | $0 | $0 | 50% |
| Days on market | 56 | 239 | 2% |
Feb 25, 2026
$21,900,000
Initial Listing
Jun 2, 2025
$16,800,000
Public Record
Aug 24, 2021
$9,500,000
Public Record
Apr 9, 2020
$5,433,000
Public Record