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

New Padaro Lane Blufftop Price Reduction: 2825 Padaro Lane

New Padaro Lane Blufftop Price Reduction: 2825 Padaro Lane

The asking price of 2825 Padaro Lane has just been reduced from $60,000,000 to $55,000,000.

Listed by Coldwell Banker Property Shop, 2825 Padaro Lane is a 10.25 acre blufftop property with approximately 505′ of ocean frontage, beach access, a shared water well and panoramic coastline and mountain views. This is a 10.25 acre portion of the 17.25 acre property formerly known as “Rancho Carinoso.” There is a small 2 bedroom/1 bath cottage built in 1940 on the property.

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History of the Listing

2825 Padaro Lane came on the market in February 2017 asking $60,000,000. Its price was reduced to $55,000,000 at the end of July.

Previous Sales in the 2000’s

Prior to being subdivided, the entire 17.25 acre “Rancho Carinoso” property at 2825 Padaro Lane sold in March 2006 for $28,500,000. Though it took until December 2009 to complete the requisite lot line adjustment, during 2007 a deal was struck to sell off 7 acres of the 17.25 acre parcel for $25,000,000 to the next door neighbor (who had purchased the neighboring property in 2007 for a whopping $83,275,000.)