SANTA BARBARA, CA—Rancho San Carlos, a 237-acreprivate estate in Santa Barbara, has come tomarket via Sotheby's International Realty Inc.brokers Harry Kolb and SuzannePerkins, who was named exclusive listing agent for theproperty. Built in 1931 and owned only by the family during thattime, the property is listed at $125 million.

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"The original creators of this very special family enclavepassed away several years ago and the numerous heirs, whoare located across the country, have expressed an interest touse their equity in this property for other uses," Kolb tellsGlobeSt.com about the seller's decision to sell the property.

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Designed by Reginald Johnson, Rancho San Carlosis a massive estate. Aside from the sizable 237 acres, the propertyhas a 30-room, 29,000-square-foot house, 10 guest cottages, a10-stall barn with a covered rising area that was built a yearearlier in 1930. The interior rooms feature moldings andmantelpieces from an English manor home built in the 1920s, and anauthentic English whiskey pub with wooden casts and a long oak bar.The grand property has stunning ocean views on one side andpanoramic mountain and valley views from other viewing places inthe house.

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Perhaps the most valuable feature considering California'songoing drought, the property has access to seven agriculturalwater meters and three water storage reservoirs, while receiving50% of its water from a diversion system from adjacent RomeroCreek.

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"We think the most likely buyer will be someone who appreciatesthe three most unique features of the property and will beinterested in retaining those same attributes: the fact that theproperty is still owned by the original family that createdit's features over 90-years ago and so has a wonderful provenanceand feeling of stability; the fact that it's the largestproperty, and by a considerable margin, of any other major estatein this very exclusive community of Montecito; and that it is thelargest residence in that same community," says Kolb. "These threeunique characteristics coupled with the wonderful design elementsof this wonderfully built home designed by the well respectedarchitect Reginald Johnson make this a very special opportunity forthe buyer who can afford this scale of exclusivity."

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This massive property will be a trophy asset for any buyer'sportfolio, and has huge potential. In other Santa Barbara news,earlier this year, GlobeSt.com reported that the HousingAuthority of the City of Santa Barbara purchased a 1.76-acre property to build seniorhousing. The property traded hands for $2.25 million.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.