888 Lilac Drive, Montecito, CA 93108, Montecito, 93108 - 6 bed, 10 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 maintenance and high-end, timeless design. The kitchen features top-of-the-line, modern appliances, pristine marble countertops, custom dark wood cabinetry, and contemporary pendant lighting. Bathrooms are luxurious, showcasing expansive glass-enclosed showers with multiple heads, modern soaking tubs, and high-quality tile work throughout. All flooring, light fixtures, and finishes across the property are of superior quality and appear to be in immaculate condition, reflecting current luxury standards with no visible signs of wear or deferred maintenance. The overall aesthetic and extensive amenities contribute to an 'excellent' rating.
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 = 90605, living area = 13599.
- Panoramic Ocean Views
The property boasts vast, unobstructed ocean views, a highly coveted and value-driving feature in the Montecito market.
- Exceptional Luxury Amenities
A comprehensive suite of high-end amenities including a gym, theater, bar, game room, pool, guest house, and a 5-car garage provides unparalleled lifestyle and entertainment options.
CONSRISKS & DEFICIENCIES
- High Operational Complexity & Cost
The extensive array of luxury amenities and sophisticated 'off-grid' systems, while beneficial, will likely entail significant ongoing maintenance, utility, and staffing costs, requiring specialized management.
- Specific Design Aesthetic
While boasting 'incredible design,' the property's specific architectural style and interior finishes, though luxurious, may not universally appeal to all ultra-luxury buyers, potentially narrowing the market.
- Potential for System Updates
Built in 2006, while relatively modern, some discerning buyers at this price point may prefer brand new construction or a recently renovated historic estate, potentially requiring future updates to certain systems or aesthetics.
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
- 90,605 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 10 (10 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 | 10.0 | 5.0 | 98% |
| Square foot | 13,599 | 3,784 | 99% |
| Lot Size | 90,605 | 43,560 | 86% |
| Price | $30.00M | $5.49M | 98% |
| Price per sq ft | $2.2K | $1.6K | 81% |
| 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