Noteworthy new listings….
The 1893 building at 200 Olive Mill Road ($8.5 million) was initially the olive mill that gave the street its name. Converted to residential use in 1905, it’s that rare thing: a house with historical flair—love the stone throughout—that’s close to turnkey. It lacks a pool and the dirt driveway is a tad rustic, but it’s walkable to Coast Village Road.
Built in 1967 with plenty of the midcentury Montecito funk you’d hope for, 146 Loureyo Road ($6 million) is a compound with a five-bedroom main house and four two-bedroom outbuildings. It could certainly serve as a residence, but I think it really makes sense as a sweet little inn. Someone clearly sees potential, as it’s already in escrow.
Built a year earlier, in 1966, 3997 Laguna Blanca Drive ($4.195 million) is far more staid, which is hardly a complaint. The listing says the house was recently updated, but the photos are virtually staged, so I’d assume there’s work to be done. Still, with Hope Ranch as hot as it has been, the property is likely to move fast.
The owner of 491 Pimiento Lane paid $4.5 million three months ago, then listed it the very next day for $5.295 million. No one bit, and now it’s back as a pocket listing—for $8.5 million. The listing has “inspiration photos” (a.k.a. renderings) like the one below showing the building painted white, and there are some conceptual designs and suggested materials, but I’m not sure anything has actually been done to the property. The motor court, with stones laid by hand, remains fabulous.
The house at 454 Toro Canyon Road ($3.595 million) is touted as “mid-construction,” which seems to mean the permits have been approved—no small feat these days. (That’s a rendering below.) The lot is 1.14 acres, and the building site is nicely situated far from the road.
Accessed via Coronada Circle but fronting Eucalyptus Hill Road, the two-bedroom, two-bath 186 Coronada Circle ($2.49 million) still manages an ocean view, and there are also lovely mountain views from the living and dining rooms. The floor plan is a little unwieldy and surfaces want updating, but in this market, the price is probably right.
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