888 Lilac Drive, MONTECITO, CA 93108, MONTECITO, 93108 - 6 bed, 8 bath
888 Lilac Drive
MONTECITO, CA 93108
Property Price
SUMMARY
Analysis of 888 Lilac Drive, MONTECITO, CA 93108 is currently available with a list price of $29,995,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the MONTECITO Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Built in 2006, this property presents as virtually new due to its exceptional quality, timeless design, and meticulous maintenance. The kitchen features custom dark cabinetry, pristine marble countertops, professional-grade stainless steel appliances, and modern pendant lighting. Bathrooms are luxurious with high-end stone, contemporary fixtures, and spa-like amenities, all appearing in excellent condition. High-quality flooring, modern light fixtures, and advanced sustainable systems (solar, generator, private well) further underscore its 'excellent' rating, showing no signs of deferred maintenance or physical depreciation.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Montecito Location & Ocean Views
Situated on prestigious Lilac Drive in Montecito, the property boasts vast, unobstructed ocean views, a highly coveted and value-driving feature in this exclusive market.
- Extensive Luxury Amenities
The estate offers a comprehensive suite of high-end amenities including a gym, theater, bar, game room, pool, guest house, and a 5-car garage, providing an unparalleled luxury lifestyle experience.
- Advanced Sustainable Living Features
Equipped with solar power, a generator, greywater irrigation, a private well, organic vegetable beds, citrus orchards, and chicken coops, the property offers sophisticated off-grid capabilities and a sustainable lifestyle.
CONSRISKS & DEFICIENCIES
- Extremely High Price Point
Listed at nearly $30 million, the property's price significantly narrows the potential buyer pool to an ultra-high-net-worth demographic, potentially extending market time.
- Extensive Maintenance & Operational Costs
The sheer scale of the property, coupled with numerous luxury amenities and complex sustainable systems, will necessitate substantial ongoing maintenance, utility, and potential staffing costs.
- Niche Market Appeal
While luxurious, the specific combination of extensive off-grid features and amenities, such as chicken coops and large orchards, may appeal to a more specialized segment of the luxury market, potentially limiting broader appeal.
About 888 Lilac Drive
Vast ocean views, flat grounds, luxe amenities, & incredible design coalesce at this iconic Montecito property. Flexible spaces both inside and out make this an intimate home for 2 yet can easily accommodate crowds of over 200. Public spaces blend seamlessly and open to the view and lush grounds beyond. A main level primary suite offers a restful way to begin and end each day while 5 addt'l bd suite are perfect for loved ones. Gym, theater, bar, game room, pool, guest house & 5-car garage allow you to savor all of life's moments. Living off the grid has never been more chic. Solar, a generator, greywater irrigation system, private well, organic vegetable bed & citrus orchards, chicken coops, and secret gardens define sustainable sensibility and offer an unparalleled piece of paradise.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2006
- Lot Size
- 90,604.797 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 8 (8 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 90% |
| Baths | 8.0 | 5.0 | 93% |
| Square foot | - | 3,681 | 9% |
| Lot Size | 90,604.797 | 43,560 | 86% |
| Price | $30.00M | $5.49M | 98% |
| Price per sq ft | $0 | $1.6K | 21% |
| Built year | 2006 | 1973 | 88% |
| HOA | $0 | $0 | 50% |
| Days on market | 684 | 239 | 80% |
Pricing History
Listed for Sale
Apr 22, 2024
$29,995,000
Initial Listing