NOT LISTED FOR SALE

229 E Mountain Dr Montecito, CA 93108

Estimated Value: $1,590,000 - $4,159,000

1.52 Acres
$1,891,118 Price per Acre
66,211 Sq Ft Lot

Last Sold May 04, 2023

Last sale price $3,212,000

Est. 28% decrease in value since last sale

Current estimated payment $13,056/month

156 Days on Market

About This Lot

As of May 2023

Rare Opportunity ... 2 buildable lots (totaling 3.55 acres) gentle and very usable, with ocean & mountain views, in the Cold Spring School District! could be spacious compound, or live on one lot and develop the other .... endless possibilities! Includes a slice of early California with an existing adobe hacienda with great-room floor plan sited for views to the harbor, ocean, islands, and mountains. Live here while building your dream home or compound; an ultimate retreat setting. Enjoy the ambiance of vaulted ceiling, living room with fireplace, open to the expansive covered veranda with city and ocean views for year-round gatherings. With 3 bedrooms and 2 baths, the primary bedroom suite, with stunning scalloped window detail and metal framed doors to the veranda and views,Traditional features including corner fireplaces, built-in storage, traditional painted tiles in the baths, and exceptional indoor/outdoor living. Other amenities include: a snuggly reading loft above the living room, a BBQ patio conveniently located off the kitchen, a wine cellar, fruit trees, a relaxing Koi-pond patio, and acres of serenity. Plus, many recent upgrades including new roof and AC. 231 E Mountain, 2.03 ac, hosts the Adobe Hacienda, and 229 E Mountain, 1.52 ac, is the adjacent vacant lot, being offered together to total 3.55 acres. Beautiful, gentle land, ample opportunity to live in adobe while developing your dream home.

Last Agent to Sell the Property

Scott Westlotorn

Sotheby's International Realty License #01875690 Listed on: 09/26/2022

Sotheby's International Realty

Last Buyer's Agent

Subscriber Non

Non-Participant Office License #13252

Property Details

Property Type

  • Land

Lot Details

  • 1.52 Acre Lot
  • Property fronts a private road
  • Hillside Location
  • Property is zoned S-P-5

Property Views

  • Water
  • Hills

Utilities

  • Property is located within a water district
  • Septic Tank
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 013-050-007

Property Details

Property Type

Land

Lot Details

0

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Lot Acreage: 1.5200
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • View: Hills, Water
  • View: Yes

Utilities

  • Cable: Yes
  • Electric: On Site
  • Sewer: Septic Tank
  • Telephone: Yes
  • Water: District

Lot Info

  • Assessor Parcel Number: 013-050-007
  • Lot Description: 2-4 Lots
  • Lot Location: Hillside, Private Road
  • Lot Size Area: 66211

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 26, 2022
Closed on
Apr 20, 2023
Sold by
Hill Family Trust
Bought by
Ferguson Kelly Kelly and Ferguson Brian Scott
Seller's Agent
Scott Westlotorn
Sotheby's International Realty
Buyer's Agent
Subscriber Non
Non-Participant Office
List Price
$4,495,000
Sold Price
$3,212,000
Premium/Discount to List
-$1,283,000
-28.54%
Views
29
Current Estimated Value
$2,312,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$900,000
Avg. Annual Appreciation
-4.15%
Original Mortgage
$2,012,000
Outstanding Balance
$1,954,214
Interest Rate
6.42%
Mortgage Type
New Conventional
Estimated Equity
$920,286

Purchase Details

Closed on
Jan 12, 2017
Sold by
Hill Sandra P
Bought by
Hill Sandra P

Purchase Details

Closed on
May 6, 2011
Sold by
Hill Sandra P
Bought by
Hill Sandra P
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
Ferguson Kelly Kelly $3,512,000 Fidelity National Title Compan
Hill Sandra P -- None Available
Hill Sandra P -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ferguson Kelly Kelly $2,012,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/04/2023 05/04/23 Sold $3,212,000 -17.5% --
03/01/2023 03/01/23 Pending -- -- --
11/03/2022 11/03/22 Price Changed $3,895,000 -2.5% --
09/26/2022 09/26/22 Price Changed $3,995,000 -11.1% --
09/26/2022 09/26/22 For Sale $4,495,000 -- --
Source: The MLS

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 $10,886 $1,040,400 $1,040,400 --
2023 $10,886 $1,000,000 $1,000,000 $0
2022 $708 $32,551 $32,551 $0
2021 $700 $31,913 $31,913 $0
2020 $691 $31,586 $31,586 $0
2019 $395 $30,967 $30,967 $0
2018 $388 $30,360 $30,360 $0
2017 $383 $29,765 $29,765 $0
2016 $418 $29,182 $29,182 $0
2014 $410 $28,181 $28,181 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-203119

The MLS

APN: 013-050-007