Montecito ~ $3,495,000

Livable tear down/ remodel, adjacent to $20 million estates in one of the most exclusive private locations and streets in Old Montecito. Nestled on 1.16 acres, formerly part of the renowned Brundage Estate, 804 Ayala Lane offers unlimited potential and exquisite tranquility. Situated at the end of the lane, this home is surrounded by towering trees that have stood for over 100 years, providing the perfect amount of privacy. This home offers a single story 3 bed/2 bath main house and a 2 bed/1 bath guest cottage. There is significant rental income possibilities from both homes. Conveniently located near world-class beaches, resorts, fine dining and shopping in Montecito's coveted Upper & Lower Villages. Priced at lot value (with the distinct advantage of having two adorable cottages to enjoy while planning your dream home). Two adjacent parcels recently sold for $15,975,000 and $15,400,000. Avery Brundage was a well-known real estate investor who owned many iconic properties in Montecito/Santa Barbara: the Montecito Country Club; El Paseo; De La Guerra mansion; the El Presidio business block; and the Montecito Inn. He was also known as the “King of the Olympics” as he held the post as the International Olympics Committee President for 20 years. This home is the last remaining property that was once a part of the historic estate that was originally named Escondrijo (the “Hiding Place”), which was then purchased by Avery Brundage and renamed La Pineta (“The Pinewood”). 804 Ayala Lane was originally built as the servant’s and chauffeurs’ quarters on the landmark La Pineta estate.