NOT LISTED FOR SALE

109 Olive Mill Rd Montecito, CA 93108

Estimated Value: $6,362,069 - $7,240,000

3 Beds
5 Baths
3,119 Sq Ft
$1,561/mo HOA Fee

Last Sold September 27, 2024

Last sale price $7,000,000 $2,244 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $40,112/month

35 Days on Market

Highlights

  • Property is near an ocean
  • Mountain View
  • Property is near public transit
  • Santa Barbara Senior High School Rated A-
  • Deck
  • Multiple Fireplaces

About This Home

As of September 2024

This one of the kind offering features a fabulous 3000+ square-foot 3 bedroom, 3 1/2 bath top floor single level home. It offers easy access to all the best restaurants and shops on Coast Village Road. Spacious outdoor view terraces for easy entertaining and/or relaxing privately. This very secure building offers gated underground parking. Additionally this penthouse has an enclosed three car garage within the gated parking structure and has DIRECT elevator access from your private garage to your penthouse! Top of the line features complement the beautiful Mediterranean architecture. This unique opportunity is unlike anything else Montecito has to offer. Whether you're looking to scale down graciously from a large house or looking for a weekend getaway, this works for both.

Last Agent to Sell the Property

Edward Edick

Village Properties License #00520230 Listed on: 08/14/2024

Co-Listed By

Mary Lu Edick

Village Properties License #00778203

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Condominium

Year Built

  • Built in 2019

Lot Details

  • Gated Home
  • Property is in excellent condition

HOA Fees

  • $1,561 Monthly HOA Fees

Parking

  • Garage

Home Design

  • Mediterranean Architecture
  • Stucco

Interior Spaces

  • 3,119 Sq Ft Home
  • Multiple Fireplaces
  • Mountain Views
  • Monitored
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms

Accessible Home Design

  • Accessible Elevator Installed

Outdoor Features

  • Property is near an ocean
  • Deck
  • Built-In Barbecue

Location

  • Property is near public transit
  • Property is near shops
  • Property is near a bus stop
  • City Lot

Schools

  • Mont Union Elementary School
  • S.B. Jr. Middle School
  • S.B. Sr. High School

Utilities

  • Forced Air Heating and Cooling System
  • Power Generator

Community Details

  • Restaurant

Listing and Financial Details

  • Assessor Parcel Number 009-760-004
  • Seller Considering Concessions

Property Details

Home Type

Condominium

Year Built

Built in 2019

Lot Details

0

HOA Fees

$1,561 per month

Listing Details

  • Association Fee: 1561
  • Prop. Type: Residential
  • Year Built: 2019
  • Reso Property Sub Type: Condominium
  • ResoLaundryFeatures: Laundry Room, In Unit
  • ResoLotFeatures: Near Public Transit
  • ResoSecurityFeatures: Monitored, Gate:Elec, Security System
  • Co List Office Mls Id: vip
  • Co List Office Phone: 805-969-8900
  • Reso Accessibility Features: Accessible Elevator Installed
  • Architectural Style: Medit
  • Garage Yn: Yes
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 2019
  • Property Information Total #Units: 1
  • NeighborhoodSchools Elementary School: Mont Union
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • View Mountain(s)2: Yes
  • Property Information ADU: No
  • Property Information Within City Limits: Yes
  • Condition Excellent: Yes
  • Exterior:Stucco: Yes
  • Proximity Near Ocean2: Yes
  • Laundry Laundry Room2: Yes
  • Security Security System: Yes
  • Security GateElec: Yes
  • Cooling Central Air: Yes
  • Property Information Main House SqFt: 3119.0
  • ParkingGarage Gar #33: Yes
  • GroundsLandscaping Built-in BBQ: Yes
  • Proximity Near Shopping2: Yes
  • Proximity Restaurants: Yes
  • Proximity Near Bus: Yes
  • GroundsLandscaping Deck3: Yes
  • CondoCO-OPPUD Attached7: Yes
  • Laundry In Unit2: Yes
  • Style Medit2: Yes
  • Amenities Elevator4: Yes
  • Amenities GasElectricDiesel Generator: Yes
  • Handicapped Access Elevator3: Yes
  • Security Monitored2: Yes
  • Fireplace(s) 23: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Full Bathrooms: 3
  • Half Bathrooms: 2
  • Total Bedrooms: 3
  • Fireplace Features: 2

Exterior Features

  • View: Mountain(s)
  • Construction Type: Stucco
  • Exterior Features: Deck

Garage/Parking

  • Attached Garage: No
  • Parking Features: Gar #3

Utilities

  • Cooling: Central Air
  • Heating: Forced Air
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Heating:Forced Air: Yes

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights

Schools

  • Elementary School: Mont Union
  • High School: S.B. Sr.
  • Middle Or Junior School: S.B. Jr.

Lot Info

  • Parcel #: 009-760-004
  • Zoning: C-2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 14, 2024
Closed on
Sep 13, 2024
Sold by
Olive Oil And Gas Lp
Bought by
Dennis B Phelps Jr Revocable Trust and Phelps
Seller's Agent
Edward Edick
Village Properties
Buyer's Agent
Non Member Agent
Non Member Office
List Price
$7,500,000
Sold Price
$7,000,000
Premium/Discount to List
-$500,000
-6.67%
Views
35
Current Estimated Value
$6,860,767

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$139,233
Avg. Annual Appreciation
-1.61%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Dennis B Phelps Jr Revocable Trust $7,000,000 Fidelity National Title
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/27/2024 09/27/24 Sold $7,000,000 -6.7% $2,244 / Sq Ft
09/18/2024 09/18/24 Pending -- -- --
08/14/2024 08/14/24 For Sale $7,500,000 -- $2,405 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $29,976 $7,000,000 $2,000,000 $5,000,000
2023 $29,976 $2,805,497 $335,229 $2,470,268
2022 $28,876 $2,750,488 $328,656 $2,421,832
2021 $27,893 $2,696,558 $322,212 $2,374,346
2020 $27,612 $2,668,909 $318,909 $2,350,000
2019 $22,512 $2,175,633 $275,633 $1,900,000
Source: Public Records

Agents Affiliated with this Home

  • E

    Seller's Agent in 2024

    Edward Edick

    Village Properties

    (805) 688-1620

    7 in this area

    33 Total Sales

    Edward Edick
    Section Image

  • M

    Seller Co-Listing Agent in 2024

    Mary Lu Edick

    Village Properties

    (805) 565-8871

    4 in this area

    24 Total Sales

    Mary Lu Edick
    Section Image

  • N

    Buyer's Agent in 2024

    Non Member Agent

    Non Member Office

See All Agents

Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 24-2674

Santa Barbara Multiple Listing Service

APN: 009-760-004

California Santa Barbara County Montecito 93108

109 Olive Mill Rd, Montecito, CA

Not Listed for Sale

Condos

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