780 Ashley Road
About This Property
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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 |
|---|---|---|---|
| Apr 21, 2026 | Sold | ||
| Sold | |||
| Apr 15, 2026 | In contract | - | |
| In contract | |||
| Feb 10, 2026 | Price Decreased |
$5,850,000
↓ $350K
(5.7%) | |
| Price Decreased | |||
| Aug 12, 2025 | Price Decreased |
$6,200,000
↓ $795K
(11.4%) | |
| Price Decreased | |||
| Feb 3, 2025 | Listed | $6,995,000 | |
| Listed | |||
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Nestled beneath a canopy of mature oaks and sycamores, 780 Ashley Road offers an extraordinary opportunity to create a legacy estate in one of Montecito's most coveted enclaves. With commanding mountain views and utter privacy, this sun-drenched 3.25-acre parcel provides an expansive development envelope and an idyllic setting for reflection and renewal. Surrounded by some of Montecito's finest estates, the property's tranquil setting is an ideal canvas for crafting a timeless residence. Once the site of the iconic Glass Pavilion, this exceptional land holds architectural history that adds to its unique allure. All necessary groundwork has been completed, including extensive site studies, surveys, and reports, allowing future owners to move forward with their vision immediately. Santa Barbara County's expedited approval process for like-for-like builds further streamlines the development process, ensuring a seamless transition from concept to reality.
With utilities at the site, the possibilities are boundless for designing your dream compound estate. This premier parcel embodies the essence of Montecito, ideally located near the renowned Lotusland Botanical Gardens, world-class hiking and biking trails, and the charming shops and dining of Upper Village.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017