1274 Eleven Oaks Lane, MONTECITO, CA 93108 (MLS# 23-2148)

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1274 Eleven Oaks Lane, MONTECITO, CA 93108

$6,500,000

Downtown Montecito 0.32 acre sanctuary adjacent to Coast Village!

Virtual Tour

https://my.matterport.com/show/?m=9NWt7gyqF5c&mls=1

A perfect Pied-a-terre in a perfect location!

Welcome to paradise! An incredible remodeled sanctuary!

Large and welcoming downstairs living room

Just off the dining room, outdoor lounge

En suite bathroom; Euro Toto commode (automatic) in all four bathrooms

Everything you need for a wonderful experience is here

Independent living upstairs with separate entrance

Upstairs full kitchen with high-end appliances

Second bedroom upstairs with laundry closet

Second en-suite and hallway bathroom upstairs

An incredible ocean view entertainment deck!

A private sanctuary retreat located directly off Coast Village Road

A once in a lifetime opportunity to own this special property

A truly bucolic setting but close to it all!

The beauty of this property is enhanced at night

Blocks to the beach and directly downtown!

Your choice of SFR or functional duplex!

Property Type: Res Inc Square Footage: 1,918 Lot Size (sq. ft.): 1,393,920 Status: Closed

Current Price: $6,500,000 List Date: 7/21/2023 Last Modified: 9/15/2024

Overview

Description

Your must see this property to believe it. Photos and descriptions cannot convey the magic of this fully transformed downtown Montecito renovation that presents an incredibly versatile property in one of the most unique and convenient locations available! This incredibly charming single family residence in the Coastal Zone (short or long term rentals) easily converts to a duplex including two units with separate entrances, each boasting 2 bedrooms, 2 bathrooms, an indoor and outdoor kitchen, and laundry. Extras abound such as the beautifully landscaped 0.32 acre lot, outdoor fireplace, gorgeous water feature spilling down a private hillside to a large redwood spa, outdoor shower, direct Coast Village Road access across from Lucky's and a stunning ocean view entertainment deck -incredible!

Supplements: All new features include: custom windows, doors, electrical system, plumbing, floors, lighting, plumbing fixtures (including automatic Toto toilets in all 4 bathrooms), exposed beams, cabinetry, quartzite countertops and backsplashes, closet systems throughout, fireplace added upstairs, premium appliances, downstairs shower with 5 shower heads, ful ... (Read more)

Listing Details MLS# 23-2148

Location Info

District: 10 - MONTECITO
Street #: 1274
Street Name: Eleven Oaks
Street Suffix: Lane
State: CA
Country: US
Postal Code: 93108
Compass Map: Santa Barbara
Map Grid: S12
County: Santa Barbara
Parcel Number: 009-230-042
Cross Street: Olive Mill

Contract Info

Price: 6700000
Buyers Agent $/%: 2.5
Begin Date: 2023-07-20

Status Information

Sold Date: 2023-10-06
Under Contract Date: 2023-09-05

Property Information

Number of Units: 2
Stories: 2
Year Built: 2023
Main House SqFt: 1918
Apx # Acres: 32
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 10 - Hedgerow

Remarks

Hot Sheet Comment: new

More Information

Owner Info

Deposit: 20100

Miscellaneous

Parking Spaces: 3
# Refrigerators: 2
# Stoves: 2

Unit 1

# Units: Yes
# Bedrooms: 2
# Baths: 2
Furnished: P
Rent: 21000
Monthly Total: 21000
# Half Baths: 0

Unit 2

# Units: Yes
# Bedrooms: 2
# Baths: 2
Furnished: P
Rent: 21000
Monthly Total: 21000
# Half Baths: 0

Meters

Sep Meter Wtr: N
Sep Meter Elec: N
Sep Meter Gas: No

Neighborhood/Schools

Elementary School: Mont Union
Junior High School: S.B. Jr.
High School: S.B. Sr.

Condition

Excellent: Yes

Foundation

Slab: Yes
Raised: Yes
Mixed: Yes

Proximity

Near Bus: Yes
Near Ocean: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Laundry

In Unit: Yes

Amenities

Deck: Yes
Patio: Yes
Spa: Yes
Fireplace: Yes
Gas Stove: Yes
Dishwasher: Yes
Microwave: Yes
Washer: Yes
Dryer: Yes
Refrigerator: Yes
220V: Yes
Fncd All: Yes

Income/Expenses

Total Monthly Income: 42000
Annual Income: 504000
Gross Rent Multiplr: 13.29
Capitalization Rate: 6%
Estimated: Yes
Vac Factor: 30%
Total Annual Exp: 101700
NOI: 402300

Security

Smoke Detector(s): Yes

Heating

GFA: Yes

Cooling

A/C Central: Yes

Zoning

R-1: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Parking Info

Outside: Yes
Unc #3: Yes

Flr/Wdw Coverings

Hardwood: Yes
Tile: Yes

Pub Listing Details

Owner is Licensee: Yes

Contingent Remarks

HOME INSPECTN: Yes

Property Features

Condition: Excellent Foundation: Slab; Raised; Mixed Parking Info: Outside; Unc #3 Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: In Unit Amenities: Deck; Patio; Spa; Fireplace; Gas Stove; Dishwasher; Microwave; Washer; Dryer; Refrigerator; 220V; Fncd All Security: Smoke Detector(s) Cooling: A/C Central Heating: GFA Zoning: R-1 Terms: Cash; Conventional Listing Type: ER Pub Listing Details: Owner is Licensee Contingent Remarks: HOME INSPECTN

Documents

Improvements and Rental Estimate ›

Listing Office: Goodwin & Thyne Properties

Last Updated: September - 15 - 2024

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