Noteworthy new listings….
When 770 Hot Springs Road ($19.995 million) last sold, in early 2019, it was in ragged shape. According to the Wall Street Journal, James Madsen and Eddie Orton of San Francisco bought and renovated it with the intention of living there at least some of the year, but things changed. (The insane real estate market had to play a role.) Designed by George Washington Smith and Lutah Maria Riggs, the 1928 house is 8,712 square feet and impossibly glamorous; it’s not hard to imagine its former owner, iconic model Suzy Parker, swanning down that staircase. And the renovation did a swell job of bringing the house up to date without sacrificing the abundant 1920s charm. That said, the rear wing is still a warden of small rooms, the landscaping of the 1.84-acre lot is incomplete, and $20 million is a lot of money for no guest house and no view. (Or at least it used to be.) The combination of turnkey and pedigree, in a market starved for inventory, will probably be enough to seal the deal anyway. P.S. A 4,500-bottle wine room is hidden behind one of the living room bookcases.
Over in Ennisbrook, the 10,823-square-footer at 1885 Jelinda Drive ($15.75 million) is a spec flip attempt, having been bought for only $7 million in September 2021. The house was built in 2000 as if the 1980s never ended. It got a less intensive renovation than 770 Hot Springs, and the result is definitely an improvement, if a bit like a Restoration Hardware showhouse.
In early 2021, the 207-acre oceanfront property at 9525 Calle Real, west of the Ritz-Carlton Barara, went to auction after being listed for $25 million. It sold for all of $6.6 million. Now a 142.7-acre chunk—with approved plans for two houses, the maximum allowed—is on the market for $25 million. As for the remaining 65 acres, to the west, the listing describes it in such a way that it sounds like it could coming to market, too. (“Tomate Canyon Ranch is comprised of exceptional land with the unrealized potential for additional ultra-luxury oceanfront homes.”)
Nothing says “millionaire next door” quite like listing a house for-sale-by-owner for $8.5 million. 940 Channel Drive certainly has a sexy-sounding address, but the .37-acre lot is also on Monte Cristo Lane, across from the Montecito Sanitary District. From what I can tell—the photos are microscopic—the 1965 house could use updating.
Sitting high above the street, the 1972 house at 3620 Campanil Drive ($5.295 million) has significant curb appeal, with broad mountain views. But inside is a total redo, and while some of the floor plan is fine, there are a lot of small sets of stairs, and the entry would benefit from a reorganization. The slate roof looks great from the front, but what’s going on in the rear?
I love the old houses on the south side of APS, because you get the views without having to look at the street. Built in 1952, 1507 Alameda Padre Serra ($4.3 million) feels a little older than its years—in a good way—with some quirky spaces, including a room off the master closet and an upstairs deck. And it’s on nearly half an acre, big for the Lower Riviera, with a large motor court (but turning right onto APS requires some courage).
The driveway at 800 De La Guerra Terrace ($1.995 million) is breathtakingly steep—and I mean that literally—but the payoff is a sweeping panorama of the city, which will survive even if the neighbors below add second stories. The upstairs rooms have intensely pitched ceilings, and the interior needs updating throughout. Still, it could turn out cool.
Houses in the Bluffs gated community in Goleta have been performing especially well of late, and I see no reason that 7702 Kestrel Lane ($3.495 million) won’t do the same. The backyard looks out over Santa Barbara Shores Park, with easy access to the beach.
And a few others worth checking out:
••• 2921 Serena Road ($2 million): Spec reno of a Samarkand three-bedroom; the seller paid a bit over $900,000 in August 2019.
••• 0 Laguna Blanca Drive ($3.995 million): A pair of vacant lots, totaling two acres, on the La Cumbre Country Club’s fifth fairway in Hope Ranch.
••• 1515 Olive Street ($1.995 million): “Detached condominium” with some appealing moments.
••• 1497 Isabella Lane ($4.25 million): Over $4 million for a townhome in Montecito? The comp says yes. This one has one more bedroom, but it’s right on San Ysidro Road.
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