Daily limit: 0/10
Billionaire Robert Friedland Acquires Carpinteria Oceanfront Estate For $47M
SOLD
$47,000,000
California
See Similar DealsSingle Family9,384 SF
Sold 02/04/2024
SOLD
Billionaire Robert Friedland Acquires Carpinteria Oceanfront Estate For $47M
3165 Padaro Lane
See Similar DealsSingle Family9,384 SF
Sold 02/04/2024
Summary
CALIFORNIA
Asset Type:Single Family
Price Per Square Foot:$5,008
Total Square Footage:9,384 SF
Transaction Type:Sale
Billionaire Robert Friedland and wife Darlene have purchased a Carpinteria oceanfront estate in Santa Barbara County for nearly $47 million, making it the largest residential real estate deal in the county in 2023. The property, located at 3165 Padaro Lane, sits on 1.95 acres of land and features a six-bedroom main house, lush gardens, and beach access. The prestigious street is also home to notable neighbors such as Kevin Costner and Kourtney Kardashian.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $47,000,000
- Address: 3165 Padaro Lane
- Market: Carpinteria
- Size: 9,384 square feet
- Price per Square Foot: $5,009
It is worth mentioning that the property was previously owned by Telus ex-CEO Darren Entwistle and his wife Fiona Entwistle. The purchase by Robert Friedland and Darlene Friedland marks a significant acquisition in the Carpinteria area, known for its beautiful oceanfront properties and luxurious lifestyle.
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,506,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$166,981.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$222,803.98
Annual Debt Service$2,673,647.74
Is there something missing? Send suggestions