A blog about the Santa Barbara beach real estate market
Kathleen Winter DRE 01022891 805.451.4663

Best Buy: Newly Reduced Beachfront Bonnymede Condo

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Best Buy: Newly Reduced Beachfront Bonnymede Condo

For the first time ever, I have a “best buy” to recommend: 1385 Plaza Pacifica, a beachfront 2 bedroom/2.5 bath townhouse in Bonnymede that has recently had a price reduction from $3,900,000 to $3,600,000.

Listed by Sotheby’s International Realty, 1385 Plaza Pacifica is a 1,686 sq.ft. 2 bedroom/2.5 bath beachfront townhouse with panoramic ocean, island and coastline views. Awash in sunlight, this remodeled South facing sleek contemporary unit features wide plank white oak floors, floor to ceiling windows, recessed lighting throughout, white marble counter tops, in unit laundry and private two car garage.

1385 Plaza Pacifica is located within the guarded and gated Bonnymede condominium complex right across the street from the Four Seasons Santa Barbara Biltmore Hotel. Amenities include pool, spa, tennis, clubhouse and gated security. To view further information regarding the Bonnymede & Montecito Shores complex, please click here.

Why is it a Best Buy?

I believe 1385 Plaza Pacifica is such a good buy because it has been extensively and expensively remodeled, yet is currently asking $100,000 less than it sold for when it was in original (1965!) condition in June 2007 for $3,700,000. And given multiple other nearby beachfront condo sales comps above $4,000,000, 1385 Plaza Pacifica is extremely well priced. As beachfront properties are rarely “extremely well priced,” I thought I would give 1385 Plaza Pacifica special attention. Please call me at 805.451.4663 to discuss.

For further information, please click here.

History of the Listing

1385 Plaza Pacifica came on the market in June 2019 asking $3,700,000. Its price was increased in July to $3,995,000, and decreased in November to $3,900,000. It went into escrow in February 2020, fell out almost immediately and reduced its asking price to $3,600,000.

Previous Sales Since 2000

1385 Plaza Pacifica last sold as currently redone in January 2016 for $4,650,000. (To view how it appeared at the time of its 2016 sale, please click here.) Prior to the remodel, 1385 Plaza Pacifica sold in June 2007 for $3,700,000.

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