
Santa Barbara, CA 93108
This Spacious Montecito Estate represents a Strong Value Opportunity, listed at $4,895,000—positioned well below the $4,936,040 Fair Market Value by 0.83%. This valuation gap offers $41,040 in Instant Equity. Featuring a 1.38-acre lot with sweeping mountain views and a Condition Rating of 4, the property offers significant potential for modernization. Located near Cold Spring School, this residence is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking to customize a legacy estate in a premier enclave.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 939 Arcady Road Subject | $4,895,000* List Price | 5 | 5 | 5,996 | $823 | - |
A 939 Arcady Road Active | $4,775,000 List Price | 5 | 5 | 6,000 | $796 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1951, this property is over 70 years old and retains many original architectural details. While the home appears well-maintained and livable in photos, the listing description explicitly notes it is 'rich with potential' and 'ready for its next chapter,' which are industry indicators that the kitchen, bathrooms, and major systems are dated and require modernization to meet current luxury standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 60113, living area = 5996.
Situated in the prestigious Arcady Estates near the Upper Village and Cold Spring School, this property offers elite community access and a highly coveted address.
The 1.38-acre estate features sweeping views of the Santa Ynez Mountains and a dramatic two-story wall of glass that maximizes the connection to the natural landscape.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 7.
The property is positioned as a 'rare opportunity' for a new owner to make it their own, suggesting that the 1951 residence likely requires significant updates to meet modern luxury standards.
The combination of a large 1.38-acre lot, an older structure, and a $2,000 association fee indicates substantial ongoing costs for upkeep, landscaping, and potential system upgrades.
Within Arcady Estates, this expansive Montecito residence is beautifully located and rich with potential, offering acreage, mountain views, enduring architectural details, and a flexible floor plan in a setting that feels both private and gracious. A private tree-lined road creates a lovely sense of arrival, leading to approximately 1.38 acres with sweeping views of the Santa Ynez Mountains. Together, the setting offers scale, warmth, and a wonderful sense of possibility in one of the area's most beloved enclaves. Inside, the residence has a warm, inviting character, with wood-beamed ceilings, hardwood floors, French doors, classic fireplaces, and expansive windows throughout.A dramatic two-story wall of glass creates an impressive sense of openness, drawing natural light into the main living spaces and framing the landscape beyond. An expansive outdoor deck offers a beautiful place to enjoy the setting, take in the mountain views, and extend the living experience outside. Sunlit terraces, mature palms, and generous outdoor areas further enhance the home's connection to its surroundings. The kitchen and dining areas serve as a comfortable central gathering place, connecting naturally to the surrounding rooms. Two en-suite bedrooms are located on the main level, while the upper level is anchored by a spacious primary suite with vaulted wood ceilings, a fireplace, sitting area, private balcony, and beautiful mountain views. Additional upstairs bedrooms feature exposed beams, vaulted ceilings, and private outdoor access. Near Cold Spring School and the conveniences of Montecito's Upper Village, the home offers privacy, scale, and a rare opportunity to create something truly special in a coveted setting. With its gracious Arcady Estates approach, mountain-view backdrop, and timeless architectural character, this residence is ready for its next chapter and for its new owner to make it their own.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 83% |
| Baths | 5.0 | 5.0 | 50% |
| Square foot | 5,996 | 3,732.5 | 92% |
| Lot Size | 60,113 | 41,382 | 81% |
| Price | $4.89M | $5.25M | 38% |
| Price per sq ft | $816 | $1.7K | 17% |
| Built year | 1951 | 1978 | 13% |
| HOA | $2000 | $0 | 88% |
| Days on market | 8 | 226 | 2% |
Jun 8, 2026
$4,895,000
Initial Listing