I absolutely love 1666 San Leandro Lane in Montecito. It's a prime example of how great properties sell quickly with multiple offers. What makes it so special?
Well, despite needing a remodel, it's perfectly located in the lower Montecito neighborhood on a spacious 0.8-acre flat parcel facing south. It offers plenty of indoor and outdoor space, a single-level main home, a large two-car garage, a workout/art studio, a pool, and a separate guesthouse situated privately away from the main residence with its own driveway. These are the kind of standout features that are hard to find all in one property - that's why it's worth paying $1.2 million over the initial asking price.
Originally listed at $5,000,000, 1666 San Leandro Lane went into escrow with multiple offers. After the first buyer backed out, it quickly received multiple offers again and sold for $1.2 million over the asking price.
As someone who's passionate about Montecito and Santa Barbara real estate, I was initially surprised by the $1.2 million over asking price. But when I consider how rare properties like this come onto the market, it all makes sense. I believe the new owners will tastefully remodel this stunning property, which I expect will be valued at around $9 million once it's finished.
If you're looking for properties like this, feel free to reach out to me. I've been a resident of Santa Barbara for 20 years and have been actively involved in residential real estate in the area for over a decade. Be sure to join and subscribe to my newsletter for future market updates and noteworthy sales in the area.
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Sina Omidi
805.689.7700
Berkshire Hathaway HomeServices California Properties
Santa Barbara, Montecito & Hope Ranch Properties
DRE #01944430
