NOT LISTED FOR SALE

247 Olive Rd Unit Parcel 18 Santa Barbara, CA 93108

Estimated Value: $2,221,000 - $4,996,375

5 Beds
3 Baths
2,882 Sq Ft
$1,412/Sq Ft Est. Value

Last Sold August 05, 2020

Last sale price $2,642,500 $917 Per Sq Ft

Est. 39% increase in value since last sale

Current estimated payment $21,739/month

32 Days on Market

Highlights

  • Attached Guest House
  • Maid or Guest Quarters
  • Wood Flooring
  • Santa Barbara Senior High School Rated A-
  • Dining Room with Fireplace
  • Park or Greenbelt View

About This Home

As of August 2020

Public RemarksTucked away in the Lower Village of Montecito on two parcels that total 2.5 acres, this classic Montecito property plays host to a pair of historic homes. Offered at $2,635,000 is Parcel #18 on 1 ac. Passing beneath the property's ivy arch is like stepping back in time, revealing a turn-of-the-century charmer sprinkled with period details from a bygone era. Constructed in 1890 and equipped with good bones, the apprx 2,882-square foot main house is ripe for a restoration. Architecturally sound and well-maintained through the decades, the coastal cottage offers a flexible floorplan and endless natural light. Evoking the quaint charm of a storybook illustration, the home's timeless shingled faade is bordered in lush landscaping and dotted with mature oak trees.Offering supreme seclusion and abundant sunshine, this storied Montecito property is poised for a 21st century revitalization.

Last Agent to Sell the Property

Paul Suding

Compass License #00678264 Listed on: 05/28/2020

Compass

Last Buyer's Agent

Subscriber Non

Non-Participant Office License #13252

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $20,950

Year Built

  • Built in 1890

Lot Details

  • 1 Acre Lot
  • Property is zoned 2-E-1

Parking

  • Carport

Interior Spaces

  • 2,882 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Dining Room with Fireplace
  • Bonus Room with Fireplace
  • Park or Greenbelt Views
  • Laundry Room

Kitchen

  • Breakfast Area or Nook
  • Oven or Range
  • Dishwasher

Flooring

  • Wood
  • Linoleum
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Maid or Guest Quarters
  • 3 Full Bathrooms

Utilities

  • Gravity Heating System
  • Heating System Mounted To A Wall or Window

Additional Features

  • Open Patio
  • Attached Guest House

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 009-130-018

Home Details

Home Type

Single Family

Est. Annual Taxes

$20,950

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Street Number Display: Yes
  • Living Area: 2882
  • Stories: 2
  • Year Built: 1890
  • Number Of Photos: 21
  • State Abbrv: CA
  • Special Features: None

Interior Features

  • Fireplace Rooms: Bonus Room, Dining, Living Room
  • Flooring: Hardwood, Linoleum, Tile
  • Bedrooms: 5
  • Full Bathroom: 3
  • Half Bathroom: 0
  • One Quarter Bathrooms: 0
  • Three Quarter Bathrooms: 0
  • Dining Room: 1
  • Family Room: 0
  • Laundry: Room
  • Total Bathrooms: 3.00
  • Den: 0
  • Equipment: Dishwasher, Range/Oven, Refrigerator
  • Price Per S Q F T: 914.30

Exterior Features

  • Other Structures: None
  • Tennis Court Y/N: No
  • Guest House: Attached
  • Pool: No
  • Spa Yn: No
  • View: Green Belt
  • View: Yes

Garage/Parking

  • Parking Garage: Carport, Garage - 1 Car

Utilities

  • Heating: Gravity, Wall

Condo/Co-op/Association

  • HOA: No

Lot Info

  • Assessor Parcel Number: 009-130-018
  • Geocode Override: No
  • Lot Size Area: 43560

Multi Family

  • Number Of Units: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 28, 2020
Closed on
Jul 31, 2020
Sold by
The Northern Trust Company
Bought by
Redwood Road Investments Llc
Seller's Agent
Paul Suding
Compass
Buyer's Agent
Subscriber Non
Non-Participant Office
List Price
$2,635,000
Sold Price
$2,642,500
Premium/Discount to List
$7,500
0.28%
Current Estimated Value
$3,669,270

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,026,770
Avg. Annual Appreciation
8.95%
Original Mortgage
$2,642,500
Outstanding Balance
$2,354,605
Interest Rate
3%
Mortgage Type
Commercial
Estimated Equity
$1,715,187
Source: Public Records

Range of Values:

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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
Redwood Road Investments Llc $2,642,500 Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Redwood Road Investments Llc $2,642,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/05/2020 08/05/20 Sold $2,642,500 +0.3% $917 / Sq Ft
06/29/2020 06/29/20 Pending -- -- --
05/28/2020 05/28/20 For Sale $2,635,000 -- $914 / Sq Ft
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 $20,950 $2,156,620 $2,156,620 --
2023 $20,950 $1,976,760 $1,976,760 $0
2022 $20,294 $1,938,000 $1,938,000 $0
2021 $27,522 $2,642,500 $1,900,000 $742,500
2020 $16,169 $1,400,000 $1,300,000 $100,000
2019 $2,882 $131,822 $70,306 $61,516
2018 $2,886 $129,238 $68,928 $60,310
2017 $2,762 $126,705 $67,577 $59,128
2016 $2,666 $124,221 $66,252 $57,969
2014 $2,428 $119,960 $63,979 $55,981
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2020

    Paul Suding

    Compass

    (805) 455-8055

    3 in this area

    9 Total Sales

    Section Image

  • S

    Buyer's Agent in 2020

    Subscriber Non

    Non-Participant Office

See All Agents

Map

Source: The MLS

MLS Number: 20-583674

The MLS

APN: 009-130-018

California Santa Barbara County Santa Barbara 93108

247 Olive Rd Unit Parcel 18, Santa Barbara, CA

This home is located at 247 Olive Rd Unit Parcel 18, Santa Barbara, CA 93108 since 28 May 2020 and is currently estimated at $4,069,792, approximately $1,412 per square foot. This property was built in 1890. 247 Olive Rd Unit Parcel 18 is a home located in Santa Barbara County with nearby schools including Santa Barbara Junior High School, Santa Barbara Senior High School, and Our Lady of Mount Carmel School.

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