$5,900,000
●
House -
Off Market
839 & 841 Summit Road
Santa Barbara, CA 93108
4 Beds
4 Baths,
1
Half Bath
3,767 Ft²
$33,881
Est. Monthly
About This Property
Beautiful and private ranch-style ocean view property situated on
two parcels. Parcel 1 features 1.1+/- acres. This single-story
residence follows an open-concept layout, creating a seamless flow
between rooms and embracing an indoor/outdoor lifestyle. Almost
every room offers impressive ocean views. The grand living room
features floor-to-ceiling glass walls with stunning ocean views and
is an inviting space for relaxation and entertainment. The spacious
primary bedroom hosts an en-suite bath and walk-in closet with
direct access to the pool and patio. There is an additional guest
quarters. The lush grounds feature a pool, spa, and beautiful rose
gardens. Parcel 2, the adjoining land parcel is approximately
0.78+/- with a tennis court and orchards. Ideally located behind
the Montecito Country Club. This estate offers easy access to both
Montecito Upper and Lower villages and provides the opportunity to
create a magical estate compound.
Unit Size
3,767 Ft²
Days on Market
224 days
Land Size
1.10 acres
Price per sqft
$1,832
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1963
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 6 months ago (CLAW #23274057)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 4, 2024 | Sold | ||
| Sold | |||
| May 25, 2023 | Listed by Berkshire Hathaway HomeServices California Properties | $6,900,000 | |
| Listed by Berkshire Hathaway HomeServices California Properties | |||
Property Highlights
Fireplace
Garage
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Type
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Baths
ft²
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Sold On
Sold On
HOA + Taxes
About Riviera
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Listed by: Cristal Clarke, Berkshire Hathaway HomeServices California Properties
Last Updated: 6 months ago
Data Source: CRMLS, MLS# 23274057
Last Updated: 6 months ago
Data Source: CRMLS, MLS# 23274057
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