1835 Santa Monica Road
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 15, 2025 | In contract | - | |
| In contract | |||
| Oct 15, 2025 | Sold | ||
| Sold | |||
| Aug 29, 2025 | Listed by Compass | $10,995,000 | |
| Listed by Compass | |||
| Jun 17, 2025 | In contract | - | |
| In contract | |||
| Jan 24, 2024 | Listed | $10,995,000 | |
| Listed | |||
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Located within the exclusive gated community of Rancho Monte Alegre, Black Opal Ranch unfolds as a captivating chapter in the story of Carpinteria and Santa Barbara's history. A rare opportunity to create a breathtaking compound on over 21 acres with ocean and Channel Island views, this rare agricultural compound is a testament to a bygone era. Amongst the working avocado orchard, the original agricultural tapestry of the ranch is preserved - historic gardens, a weathered barn, rustic bunkhouse, a lemon packing house converted into an enchanted home, and the timeless dwellings of farm workers, all echoing a rich past. For those seeking an Equestrian or Agricultural retreat, this is a must-see property. The development rights weave a modern narrative into this historical fabric, which include a Robin Donaldson-designed stunning contemporary main residence with panoramic ocean and mountain views, a large garage and workshop, stables, a horse arena, multiple pastures, plus rights to legally retain three of the current five farm worker dwellings for additional housing for friends, family and staff. The lots within Rancho Monte Alegre are treated as being Williamson Act properties (yielding considerable property tax savings) without the restrictions on land use and transfer/sale that typically accompany Williamson Act properties. Additionally, Rancho Monte Alegre encompasses several thousand acres of private-access conservation land, resulting from an agreement with Santa Barbara County and the Santa Barbara Land Trust. As you traverse the property's expansive terrain, the potential of an equestrian utopia unfolds. Vast pastures, currently used as lemon and avocado orchards, are an idyllic haven for horses. The original lemon packing house has been converted into a charming, rustic home with a soaring living room, two bedrooms and two bathrooms, an office area, family room, and wraparound porch with vistas of the Pacific and Channel Islands beyond. The property also features a high-producing well and all utilities (high-speed internet, natural gas, electricity, cable, and phone) have been undergrounded to each structure. Black Opal Ranch provides an unprecedented opportunity to own a legacy historical property with entitlements in place to create an incredible equestrian and/or agricultural estate, moments from the beaches and towns of Carpinteria, Summerland, and Montecito.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017