NOT LISTED FOR SALE

Estimated Value: $5,389,000 - $38,565,840

6 Beds
7.5 Baths
8,853 Sq Ft
$2,482/Sq Ft Est. Value

Last Sold December 05, 2022

Last sale price $29,948,000 $3,383 Per Sq Ft

Est. 27% decrease in value since last sale

Current estimated payment $146,144/month

126 Days on Market

Highlights

  • Ocean View
  • Property is near an ocean
  • Traditional Architecture
  • Spa
  • 0.61 Acre Lot
  • Sun or Florida Room

About This Home

As of December 2022

Designed by legendary architect Barry Berkus in 2001 and set on world-famous Padaro Lane's most coveted beachfront location, this 9,086 sqft luxurious beachfront estate is built on the treasured knoll top of Padaro Lane and offers direct access to the ultra-luxurious golden sands and sparkling coastline of Padaro Lane beach! This visionary estate is the culmination of three legends: architect Barry Berkus, landscape architect Courtland Paul and builder Paul Griffin II. Featuring 66ft of prime ocean frontage and located on the original site of Major ''Max'' Fleischman's 1920s Polo beach cabin, this site is regarded by many to be the absolute pinnacle of beachfront locations. This extraordinary residence embraces the full essence of oceanfront living capturing jaw-dropping ocean and island views from the family room, kitchen, breakfast room, sunroom, primary suite and rooftop terrace. The open floor plan of the home is designed for multi-generational family enjoyment with 3 separate bedroom wings featuring 6 spacious ensuite bedrooms with beautifully designed spa-like attached baths and spacious closets.

Premium spaces include a beachside lounge area, sunroom, pub/game room, media room, 1108-bottle temperature-controlled wine cellar, a 7th full bath, a yacht-inspired powder room and a library with 17ft ceilings on the second floor.

Luxury amenities feature an oceanfront spa, exterior waterfall fountain, indoor waterfall fountain, indoor garden, elevator, 10ft main floor ceilings, 4 fireplaces and an outdoor shower on the main floor allowing easy access for beachside guests.

Fine touches are found in the ocean-themed custom tile, beautiful wood paneling, historic redwood accents from the original Polo cabin and radiant heating on both floors.

Sweeping ocean views are enjoyed from the primary suite complete with a sitting room, fireplace, workout room, his and her spacious walk-in closets and a spacious primary bath with beautiful custom tile work, walk-in shower and soaking tub. The primary suite encompasses the full width of the second floor and feels like an oasis of its own maximizing views up and down the coastline.

The main living area features an open floor plan with 10ft ceilings, sparkling ocean views, a grand fireplace and an enclosed sunroom with floor-to-ceiling ocean view windows. It's the perfect place to relax and experience the amazing sunsets on the ocean. The chef's kitchen and dining area are sun-drenched with floor-to-ceiling ocean view windows, professional appliances and a large pantry.

The pub/game room features an extraordinarily rare and unique featurethe Pauley Pavilion gymnasium floor on which the UCLA Bruins were coached to 10 NCAA championships under coach John Woodena gift from UCLA to the current owners. The bar area boasts beautiful tile and gold accents. At the basement level is a wine lover's dreama wine cellar complete with a tasting area, climate control and beautiful wood and stone features.

Two ensuite bedrooms located on the main level are designed to function as guest quarters with their own private entrances and doors that can separate the space from the rest of the house. Three more ensuite bedrooms are located upstairs. One offers a private entrance, balcony and fireplace and has all the amenities of a primary bedroom. The downstairs full bathroom has a separate entrance to easily rinse sandy feet before entering the home. The spacious laundry room with its separate exterior entrance allows easy renewal of towels and beachwear.

Last but not least is a book lover's dream library complete with 17ft ceilings, 2 sliding ladders, a reading loft and warm, natural lighting from the paneled windows.

The vast .61 acre oceanfront lot is gated, private and beautifully designed by legendary landscape architect Cortland Paul who designed landscapes for the Shah of Iran, the Sultan of Brunei and Disney. This haven is complete with mature trees, an oceanfront spa and a gentle, private pathway that leads you to the most exclusive and private, sandy beachfront location on Padaro Lane.

This is the first time this elite location on Padaro has been available in 42 years; this home is truly a once-in-a-lifetime opportunity.

Last Agent to Sell the Property

Jason Streatfeild

Douglas Elliman of California, Inc. License #01834496 Listed on: 07/01/2022

Douglas Elliman of California, Inc.

Last Buyer's Agent

Terence Alemann

Alemann and Associates License #01925020

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $319,532

Year Built

  • Built in 2001

Lot Details

  • 0.61 Acre Lot
  • Gated Home
  • Level Lot
  • Property is in excellent condition

Parking

  • Garage

Property Views

  • Ocean
  • Beach
  • Island
  • Coastline
  • Panoramic

Home Design

  • Traditional Architecture
  • Cottage
  • Slab Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 8,853 Sq Ft Home
  • 2-Story Property
  • Central Vacuum
  • Family Room
  • Dining Area
  • Library
  • Sun or Florida Room
  • Dryer
  • Basement

Kitchen

  • Breakfast Area or Nook
  • Double Oven
  • Dishwasher
  • Trash Compactor
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms

Outdoor Features

  • Spa
  • Property is near an ocean

Schools

  • Aliso Elementary School
  • Carp. Jr. Middle School
  • Carp. Sr. High School

Community Details

  • 05 Padaro Subdivision

Listing and Financial Details

  • Assessor Parcel Number 005-390-037

Home Details

Home Type

Single Family

Est. Annual Taxes

$319,532

Year Built

Built in 2001

Lot Details

0

Listing Details

  • Prop. Type: Residential
  • Year Built: 2001
  • Reso Property Sub Type: Home/Estate
  • ResoLotFeatures: Level, Rolling Slope
  • ResoSecurityFeatures: Gate:Elec
  • Subdivision Name: 05 - Padaro
  • Architectural Style: Traditional, Cal Cottage
  • Garage Yn: Yes
  • Unit Levels: Two
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 2001
  • Property Information Apx # Acres: 0.61
  • NeighborhoodSchools Elementary School: Aliso
  • NeighborhoodSchools Junior High School: Carp. Jr.
  • NeighborhoodSchools High School: Carp. Sr.
  • View Panoramic2: Yes
  • LocationTopo Level: Yes
  • LocationTopo Rolly2: Yes
  • Property Information ADU: No
  • Property Information Within City Limits: No
  • Condition Excellent: Yes
  • Style Cal Cottage: Yes
  • Roof:Composition: Yes
  • Foundation:Slab: Yes
  • Exterior Wood Siding: Yes
  • ParkingGarage Gar #22: Yes
  • Proximity Near Ocean2: Yes
  • Rooms Family Room4: Yes
  • Dining Dining Area2: Yes
  • Appliances Included Dishwasher3: Yes
  • Appliances Included Disposal3: Yes
  • Appliances Included Dryer3: Yes
  • Security GateElec: Yes
  • Construction Two Story2: Yes
  • Dining Breakfast Area2: Yes
  • GroundsLandscaping Spa - Outside: Yes
  • ViewOcean: Yes
  • View Coastline: Yes
  • View Islands: Yes
  • View Beach2: Yes
  • Pets Yes: Yes
  • Rooms LbryStudy: Yes
  • Appliances Included Central Vac2: Yes
  • Architectural Style Traditional: Yes
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Trash Compactor, Central Vac, Dishwasher, Disposal, Double Oven, Dryer
  • Full Bathrooms: 7
  • Half Bathrooms: 1
  • Total Bedrooms: 6
  • Bedrooms Basement: Yes
  • Appliances Included:Double Oven2: Yes
  • Other Rooms:Sun Room2: Yes
  • Appliances Included:Trash Compactor2: Yes

Exterior Features

  • Roof: Other, Composition
  • View: Beach, Islands, Coastline, Ocean, Panoramic
  • Construction Type: Wood Siding
  • Acres: 0.61
  • Topography: Rolly, Level
  • Exterior Features: SPA-Outside
  • Foundation Details: Slab

Garage/Parking

  • Attached Garage: No
  • Parking Features: Gar #2

Utilities

  • Water Source: Carp Wtr

Schools

  • Elementary School: Aliso
  • High School: Carp. Sr.
  • Middle Or Junior School: Carp. Jr.

Lot Info

  • Parcel #: 005-390-037
  • Zoning: R-1
  • Lot Size Sq Ft: 26571.6
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 1, 2022
Closed on
Nov 29, 2022
Sold by
Paul E Griffin E and Paul Gloria N
Bought by
Ril Padaro Llc
Seller's Agent
Jason Streatfeild
Douglas Elliman of California, Inc.
Buyer's Agent
Terence Alemann
Alemann and Associates
List Price
$36,500,000
Sold Price
$29,948,000
Premium/Discount to List
-$6,552,000
-17.95%
Views
6
Current Estimated Value
$21,977,420

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$7,970,580
Avg. Annual Appreciation
-10.72%
Original Mortgage
$20,000,000
Outstanding Balance
$19,387,752
Interest Rate
6.27%
Mortgage Type
New Conventional
Estimated Equity
$2,589,668
Source: Public Records

Range of Values:

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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
Ril Padaro Llc $29,948,000 Commonwealth Land Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rjl Padaro Llc $20,000,000
Previous Owner Paul E Griffin E $20,000,000
Previous Owner Griffin Gloria N $5,000,000
Previous Owner Griffin Paul E $3,000,000
Previous Owner Griffin Paul E $1,358,000
Previous Owner Griffin Paul E $2,250,000
Previous Owner Griffin Paul E $2,250,000
Previous Owner Griffin Paul E $350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/05/2022 12/05/22 Sold $29,948,000 0.0% $3,383 / Sq Ft
12/05/2022 12/05/22 Sold $29,948,000 -18.0% $3,296 / Sq Ft
11/05/2022 11/05/22 Pending -- -- --
11/05/2022 11/05/22 Pending -- -- --
07/01/2022 07/01/22 For Sale $36,500,000 0.0% $4,123 / Sq Ft
07/01/2022 07/01/22 For Sale $36,500,000 -- $4,017 / 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 $319,532 $31,043,455 $15,606,000 $15,437,455
2023 $319,532 $29,838,000 $15,000,000 $14,838,000
2022 $54,587 $5,108,236 $1,650,680 $3,457,556
2021 $53,416 $5,008,075 $1,618,314 $3,389,761
2020 $52,866 $4,956,725 $1,601,721 $3,355,004
2019 $51,816 $4,859,535 $1,570,315 $3,289,220
2018 $50,987 $4,764,251 $1,539,525 $3,224,726
2017 $50,094 $4,670,836 $1,509,339 $3,161,497
2016 $49,228 $4,579,252 $1,479,745 $3,099,507
2014 $45,776 $4,422,115 $1,428,968 $2,993,147
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 22-2208

Santa Barbara Multiple Listing Service

APN: 005-390-037