Rancho Cariñoso, a 4.2-acre oceanfront ranch at 2937 Padaro Lane in Carpinteria, closed at $21.5 million. It was first listed in 2021 at $100 million, and in 2022 the asking price was $109 million.
The property
- 4.2 acres on Padaro Lane, including nearly an acre of private beach
- Direct access to the Loon Point surf break
- A single-level contemporary home completed in 2014, about 2,514 square feet, with 3 bedrooms and 3½ baths
- A detached garage of about 1,000 square feet
- Zoned for nine horses, with an equestrian trail that leads to the sand
- Avocado and citrus groves, a private hiking trail and several build-ready sites for a pool or guest house
The Cameron family owned the ranch for more than four decades. Arthur Cameron II bought it in 1978 as part of a 28-acre, $1 million deal, and his son, Arthur Cameron III, inherited it. Kevin Costner’s Padaro Lane estate is next door.
The price history
2021 | Listed at $100 million |
2022 | Raised to $109 million |
2024 | Reduced to $70 million |
2026 | About $49 million before going to auction |
September 2026 | Auctioned through Concierge Auctions with Compass; pending sale announced at $22.55 million after 48 days |
Closed | $21.5 million |
The final price was about 80% below the $109 million ask and about 69% below the 2024 price of $70 million.
Questions about a property on Padaro Lane or anywhere on the South Coast? Call me at 805.637.4400. For the latest sales every week, read The Weekly Read.
Kathy Henry · Broker Associate
Sotheby's International Realty · Montecito
805.637.4400 · kathyhenry.net
CA DRE #01403548
Sources: Santa Barbara MLS; edhat; Robb Report. Information deemed reliable but not guaranteed.
