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

New Padaro Lane Bluff-top Escrow Closing: 3111 Padaro Lane

3111 Padaro Lane 1

New Padaro Lane Bluff-top Escrow Closing: 3111 Padaro Lane

3111 Padaro Lane has closed escrow for $10,950,000.

Never before on the market, 3111 Padaro Lane is a 2.02 acre bluff-top property with 186′ of ocean frontage with panoramic ocean, island and coastline views and shared access to a stairway to the beach. Currently, there are multiple structures on the property, including a 4 bedroom/3 bath 2 story home built in 1965, a 1 bedroom/1 bath guest house, 2 2-car garages and a workshop. The best use of the property is undoubtedly as an estate site with privacy, outstanding views, towering redwoods, oak trees and a citrus orchard.

History of the Listing

3111 Padaro Lane was listed at the beginning of August 2013 asking $22,000,000. Its price was reduced multiple times to a low of $14,250,000, then increased to $14,600,000 once it was newly staged in August 2015. Its price was reduced to $13,900,000 in November 2015 and it went into escrow within a week of its reduction to $11,900,000 in April 2016. It sold to the next door neighbor (with whom the beach access stairway was shared) in May 2016 for $10,950,000.

Previous Sales in the 2000’s

3111 Padaro Lane has been held in the same family for generations and has never been for sale previously.

3111 Padaro Lane 2

3111 Padaro Lane 3

3111 Padaro Lane 4

3111 Padaro Lane 5

3111 Padaro Lane 6

3111 Padaro Lane 7

3111 Padaro Lane 8

3111 Padaro Lane 9

3111 Padaro Lane 10

3111 Padaro Lane 11

3111 Padaro Lane 12

3111 Padaro Lane 13

3111 Padaro Lane 14

3111 Padaro Lane 15

DCIM999GOPRO

DCIM999GOPRO

3111 Padaro Lane 17

3111 Padaro Lane 18

DCIM999GOPRO

DCIM999GOPRO