Goodreads Co-Founders Acquire $12.1M Tuscan-Style Mansion In Montecito
Montecito
$12,100,000
$1,307/SF
Building Size
9,254 SF
Asset Type
Single Family Residence
Closing
Jun 28, 2023
AI
A lavish Tuscan-style mansion in Montecito, California, has been sold for over $12 million. The property, located at 1027 Cima Linda Lane, sits on a sprawling 1.97-acre lot and offers breathtaking coastal views. The main house features four bedrooms, while a detached studio provides additional space. The landscaped grounds include a pool, adding to the allure of this stunning property.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $12,100,000
- Address: 1027 Cima Linda Lane
- Market: Montecito
- Size: 9,254 square feet
- Price per Square Foot: $1,308
- Buyer: Otis & Elizabeth Chandler
- Buyer's Representative: Eric Haskell - The Agency
- Seller's Representative: Riskin Partners Group - Village Properties
Notably, the buyers of this exquisite property are Otis and Elizabeth Chandler, co-founders of Goodreads. Their acquisition of this Montecito mansion showcases their taste for luxury and scenic beauty. With its stunning coastal views, ample living space, and expansive grounds, this Tuscan-style estate offers the perfect blend of elegance and tranquility, making it a truly remarkable purchase.
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Los Angeles 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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93