888 Lilac Drive, MONTECITO, CA 93108, MONTECITO, 93108 - 6 bed, 8 bath

888 Lilac Drive, MONTECITO, CA 93108 home-pic-0

888 Lilac Drive

MONTECITO, CA 93108

ACTIVE
CONDITION: EXCELLENT
6Beds
8Baths
Sq Ft
90,604.797Lot Size

Property Price

LIST PRICE$29,995,000

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

Excellent
TeardownExcellent

Property is new construction or fully renovated.

Built in 2006, this property presents as virtually new, showcasing an 'incredible design' and 'luxe amenities' as described. The images reveal a state-of-the-art kitchen with high-end, modern appliances, marble slab countertops and backsplash, custom dark cabinetry, and contemporary lighting. The bathrooms are equally luxurious, featuring expansive glass showers with multiple heads, modern tubs, and premium stone tiling. Throughout the home, high-quality flooring (marble, dark and light wood), elegant light fixtures, and pristine finishes are evident. The presence of advanced systems like solar, a generator, and greywater irrigation, along with extensive amenities (gym, theater, pool, guest house), further underscores its top-tier condition. The property appears to have either undergone a very recent extensive renovation or has been meticulously maintained and updated to current luxury standards, with no visible deferred maintenance.

PROSSTRENGTHS & OPPORTUNITIES

  • Vast Ocean Views

    The property offers vast, unobstructed ocean views, a highly coveted and premium feature in the Montecito market.

  • Extensive Luxury Amenities

    Boasts a comprehensive suite of luxury amenities including a gym, theater, bar, game room, pool, guest house, and a 5-car garage, catering to a high-end lifestyle.

  • Sustainable & Self-Sufficient Features

    Equipped with solar, a generator, greywater irrigation, private well, organic gardens, and chicken coops, providing an eco-conscious and independent living experience.

CONSRISKS & DEFICIENCIES

  • Extremely High Price Point

    The list price of nearly $30 million significantly restricts the potential buyer pool to an ultra-luxury market segment.

  • Niche Appeal of Self-Sufficiency Features

    While a strength for some, the extensive 'off-grid' and agricultural elements (e.g., chicken coops, large organic gardens) may not appeal to all ultra-luxury buyers, potentially narrowing market interest.

  • High Ongoing Maintenance Costs

    The expansive grounds, numerous luxury amenities, and complex sustainable systems will likely incur substantial ongoing maintenance, staffing, and operational expenses.

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

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds6.04.0
90%
Baths8.05.0
93%
Square foot-3,681
9%
Lot Size90,604.79743,560
86%
Price$30.00M$5.49M
98%
Price per sq ft$0$1.6K
21%
Built year20061973
88%
HOA$0$0
50%
Days on market684239
80%

Pricing History

Listed for Sale

Apr 22, 2024

$29,995,000

Initial Listing

Browse Properties by State Browse housing market trends by state