Updated Dec 20, 2023
Jack & Julie McGinley Acquire Rob Lowe's Montecito SFR For $45.5M
700 Picacho Ln, Montecito, CA 93108, USA
$45,500,000
$4,550/SF
Building Size
10,000 SF
Asset Type
Single Family Residence
Closing
Oct 4, 2020
About this deal
AI
Rob Lowe has sold his property located at 700 Picacho Lane in Montecito. The asset, a single-family residence, was sold for a price of $45,500,000. The property spans over 10,000 square feet, resulting in a price per square foot of $4,550. The transaction took place on 10/05/2020. The buyer of the property is Jack & Julie McGinley, while the seller is Rob Lowe himself.
Summary of transaction details:
- Property Type: Single-Family Residence
- Transaction Amount: $45,500,000
- Address: 700 Picacho Lane, Montecito
- Market: Montecito
- Square Footage: 10,000
- Price per Square Foot: $4,550
- Buyer: Jack & Julie McGinley
- Seller: Rob Lowe
This transaction, facilitated by Rob Lowe's representative at 's REP, marks the successful sale of the property from Rob Lowe to Jack & Julie McGinley. The deal exemplifies the booming real estate market in Montecito, showcasing the high-value purchases being made in the area.
On the Map
$45,500,000
$4,550/SF
Single Family Residence
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Santa Barbara Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93