Here's what you can get for $5 million in Montecito, California
Coastal community is a popular enclave for celebrities -- and a royal couple
Montecito is an enclave popular with the rich and famous that sits on the Southern California coast south of the Santa Ynez Mountains.
The small, scenic community is a refuge for a number of celebrities and business leaders -- and now a royal couple. Montecito recently made international headlines when Meghan Markle and Prince Harry bought a home there.
They spent about $10 million, TMZ reported. The median home list price in Montecito was $4.3 million in July, a 9.8% year-over-year increase, according to Realtor.com. The median sale price was even higher: $4.6 million.
Despite the high prices, the website rates Montecito as a buyer’s market. Homes spend an average of 112 days on the market and sold for an average 5.27% below asking price in July.
Here’s a look at what you can get in Montecito with a $5 million budget:
School House Road - $4,995,000
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This Tudor was designed by George Washington Smith, a notable Santa Barbara architect in the 1920s and has been “meticulously cared for.”
The 3,865-square-foot home includes four bedrooms, five bathrooms and one half-bath, according to the listing with Maureen McDermut of Sotheby’s International Realty.
The home maintains lots of original character inside and also benefits from some updates, like a remodeled kitchen. Each bedroom includes an en suite bathroom, including one ground floor suite with a private entrance.
Sitting on a gated acre of lush gardens and mature trees, the home is located in a “storybook setting,” the listing states. The property features a pool, pagoda and fire pit, as well as a fruit tree orchard. There’s also a one-bedroom guest house with a private patio overlooking the gardens.
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Ashley Road - $4,850,000
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This French Country-style home offers mountain views and rose gardens.
The 4,808-square-foot home includes four bedrooms, three bathrooms and one half-bath, according to the listing with Suzanne Perkins and Arthur Kalayjian of Compass.
Inside, the home’s spaces and large and bright. It features beamed and vaulted ceilings, plus three fireplaces. The huge master suite includes a sitting area, luxurious bathroom and spacious dressing room, and opens to a private flagstone terrace with an outdoor fireplace.
The flower-filled 1.3-acre property includes a gazebo and outdoor kitchen with a barbecue. There’s also a spa with a rock waterfall, plus various outdoor entertaining areas mixed around the tiered rose gardens.
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Boundary Drive - $4,195,000
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This home is centered around a shining “jewel box” formal dining room with glass walls and ceiling.
The 3,719-square-foot home includes three bedrooms and five full bathrooms, according to the listing with Maureen McDermut of Sotheby’s International Realty.
The home features an updated kitchen with marble counters and a beamed cathedral ceiling. The master suite encompasses its own wing with dual bathrooms and a fireplace, plus access to a private terrace with ocean views.
This property backs onto the well-regarded course at Birnam Wood Golf Club. There’s also a two-bedroom guest quarters and a pool.