$63 Million California Coastal Estate Comes With An Unexpected Time-Saving Bonus

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This lush, gated estate on the Southern California coastline is prepped for a buyer to unlock its potential.

The flat 4.3-acre property in Carpinteria encompasses not one but two parcels totaling 350 feet of bluff top along the Pacific Ocean. The first contains the main house and guest studio. The second is a park-like stretch of lawn dotted with mature Monterey Cypress trees, their trunks twisted by years of coastal breezes.

Included in the $63 million asking price are plans to enhance the main residence and add a guest house and swimming pool on the other plot. “Having a second parcel offers a very unique opportunity for additional development that would be impossible on a single parcel,” says Jasmine Tennis of Village Properties’ Riskin Partners. “It is arguably one of the rarest opportunities the coveted coastline has to offer.”

Having plans already created for 3055 Padaro Lane, adds Riskin Partners’ Sarah Hanacek, “can save a new owner several years of development.”

Exclusive Padaro Lane has long been associated with celebrity owners, including Ellen DeGeneres, Portia de Rossi, George Lucas, Kevin Costner, Mila Kunis and Ashton Kutcher. President-elect Bill Clinton stayed at the serene estate following his 1992 victory and again the following year for a family vacation.

With such high-profile neighbors and visitors, movers and shakers of all types can enjoy a measure of anonymity in the wealthy community.

A wide red-brick pathway leads past two seating areas before terminating at the arch-topped front door.

Inside, the bright, beach-vibe main house features exposed beam vaulted ceilings, beveled windows and five fireplaces. French doors off many of the rooms open to patio space for ease of indoor-outdoor living.

The grand foyer contains a winding staircase. Beyond is the ocean-view living room. Among the living spaces with fireplaces are the formal dining room, family room with built-in bar and eat-in center island kitchen. A breakfast room sits off the kitchen.

Within the 6,321-square-foot main house are three bedrooms, four full bathrooms and a storage loft. The attached guest quarters add another bedroom, full bathroom and nearly 600 more square feet of living space atop the three-car garage, which contains one of two half-bathrooms.

The grounds, maintained by a private well, include a sunken barbecue area, meandering paths, putting green, rose garden and koi pond. Views take in the Pacific Ocean, sunsets, Channel Islands and Santa Ynez Mountains.

There’s access to the sand a short distance away at Loon Point Beach, which allows horseback riding.

Village Properties’ Riskin Partners Estate Group and Sandy Stahl of Sotheby’s International Realty are the listing agents.

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