Several high-value properties have been listed for sale in the Santa Barbara area, including a waterfront contemporary home on Padaro Lane priced at nearly $35 million and a renovated Hope Ranch compound listed for $20 million. These new offerings highlight the continued strength of the luxury real estate sector in the region, with properties spanning various architectural styles and neighborhoods from Eucalyptus Hill to San Roque.
Key Takeaways
- A beachfront property at 3595 Padaro Lane is listed for $34.9 million, featuring a main house and a separate guest house.
- In Hope Ranch, a 2.46-acre estate at 4265 Cresta Avenue is on the market for $20 million after significant renovations.
- Listings range from modern minimalist designs to historic 1911 cottages, reflecting the diverse architecture of Santa Barbara.
- Several properties, such as one on Campanil Drive, are identified as requiring updates, presenting opportunities for redevelopment.
Padaro Lane Waterfront Estate Listed at $34.9 Million
Topping the list of new entries is a contemporary home located at 3595 Padaro Lane, with an asking price of $34.9 million. The 1996-built property is situated directly on the sand, offering expansive ocean views. The architectural style is described as minimalist, designed to emphasize its coastal surroundings.
The main residence includes five bedrooms, with the primary living areas located on the upper floor to maximize the view. The property also features a separate one-bedroom guest house, providing additional space for visitors or staff. The layout, which places living spaces upstairs, means that stairs are a prominent feature throughout the home.
About Padaro Lane
Padaro Lane is one of the most exclusive and sought-after coastal addresses in California. Known for its private, sandy beaches and celebrity residents, properties in this area consistently command premium prices due to their direct ocean frontage and relative seclusion.
Hope Ranch Compound Sees Modern Renovation
A significant listing in the Hope Ranch neighborhood is the property at 4265 Cresta Avenue, priced at $20 million. The residence, originally designed in 2003 by architect Barry Berkus, sits on a 2.46-acre lot and has undergone a substantial modern makeover.
The sellers purchased the estate in August 2020 for $8.2 million and have since invested in significant updates to modernize the interior. The original design was noted for its grand, traditional style, which the recent renovations have streamlined for a more contemporary feel.
Property Specifications: 4265 Cresta Avenue
- Price: $20 million
- Lot Size: 2.46 acres
- Main House: 6 bedrooms, 7 full bathrooms, 2 half bathrooms
- Amenities: Home theater, wine cellar, gym, swimming pool, two hot tubs, and a tennis court.
- Parking: Two separate two-car garages.
The extensive amenities make the property a self-contained compound. According to reports from the previous sale, the home's original style was compared to historic American landmarks, but the recent updates have created a more livable and modern environment.
Opportunities for Redevelopment and Customization
Not all new listings are move-in ready. Several properties present opportunities for buyers looking to undertake a renovation project. One such example is 3221 Campanil Drive, listed for $6.998 million.
This 1970s-era home is situated on a 1.5-acre lot in a neighborhood that has seen rising property values. The house features five bedrooms and three-and-a-half bathrooms, a ratio that suggests the interior layout may require reconfiguration to meet modern standards. The property's large lot, particularly on its south side, offers considerable room for expansion or the addition of an Accessory Dwelling Unit (ADU).
Other Notable Listings Across Santa Barbara
The recent market activity includes a variety of properties in different price brackets and neighborhoods.
- 31 Cedar Lane ($3.995 million): Located on Eucalyptus Hill, this 1948 three-bedroom home was recently remodeled after being sold for $2.1 million in 2021. The design choices, particularly the fireplace surrounds, are distinctive. The layout prioritizes larger bedrooms over communal living spaces.
- 3706 Avon Lane ($3.25 million): This San Roque property features an atrium-style living room and a guest apartment with a private street entrance. This guest unit comes at the cost of a garage, requiring driveway parking.
- 428 Corona del Mar ($3.399 million): A 1911 cottage near East Beach, this property is currently used as a vacation rental. It includes a two-bedroom apartment on the upper floor, offering potential for a live-in owner with rental income.
- 1225 Calle Cerrito Alto ($2.995 million): Situated on a hill with views of the city, mountains, and ocean, this home has a unique and unconventional floor plan, including a hidden wing. Its prime location and views are expected to generate significant interest.
Additional Properties on the Market
A few other listings add to the current inventory. A spec renovation at 611 Miramonte Drive is back on the market for $3.875 million after selling for $3.65 million in February. East of Santa Ynez, a 1990s Mediterranean-style home on 6.54 acres at 5445 Baseline Avenue is listed for $6.795 million.
Finally, a unique property at 1221 Laguna Street is listed for $1.879 million. It includes a bungalow, a guest house, and an unpermitted converted garage, all painted in bright yellow and green. These diverse offerings demonstrate the breadth of options currently available to buyers in the Santa Barbara real estate market, from luxury estates to properties with unique investment potential.