You Can Be Harry And Meghan’s Neighbor In Montecito For Only $22.5 Million

The former Rob Lowe estate named “Owenshire” is for sale for $22.5 million

A favorite weekend drive for many locals in Southern California is the easy 90 minute trip up the California coastline to Santa Barbara. Most drive right past its elegant, quiet neighbor Montecito, which maintains an exclusive aura away from the usual weekend crowds. With its secluded hillside estates and rarely a paparazzi to be seen, Montecito is loved by countless celebrities and billionaires. It has become known as the American Riviera for its elegant mansions cascading down the mountains towards the Pacific Ocean.

And with the recent arrival of new residents Meghan Markle and Prince Harry, the area is having a boom in real estate sales. Among the most notable properties for sale is the former home of actor Rob Lowe in Montecito, Calif., which is on the market for $22.5 million and is walking distance to the former royal couple’s new 18,000 sf, $14 million estate.

The former Rob Lowe estate named “Owenshire” is for sale for $22.5 million

Formerly known as “Owenshire,” the 5.5-acre estate is one of several Montecito properties sold by billionaire Peter Sperling, former chairman of Apollo Education Group. The Sperlings bought the estate from Rob Lowe for $25 million in 2005, according to the listing agents Joyce Rey and Timothy Di Prizito of Coldwell Banker Global Luxury.

The re-renovated house is designed to look like an English country manor, making Harry and Meghan feel right at home if you have them over for tea. At nearly 17,000-square-foot, the house has seven bedrooms and features classic English & French country home design, with multiple large fireplaces. The home has a lower level with a wood/metal workshop, a fire-safe room, humidity-controlled fur storage, and an eight-car garage. The grounds also include a guesthouse, a pool house, a commercial-rated gym, and a second 5-star all-stainless steel chef’s kitchen with a pizza oven.

The former Rob Lowe estate named “Owenshire” is for sale for $22.5 million

According to listing agents Joyce Rey and Timothy Di Prizito with Coldwell Banker, “Montecito is an extremely attractive market offering value but with a very tight inventory of available estate properties. High-end consumers are looking for more open/natural space away from urban settings to accommodate multi-generational family needs while supporting a more environmental & sustainable lifestyle.”

Montecito also has a de facto royal member of real estate in Ellen Degeneres, who, along with her wife Portia de Rossi, owns a $49 million compound within walking distance of neighbor Oprah Winfrey. The couple has flipped more houses than any other local. According to Variety, in 2006, the couple purchased a $15.8 million Montecito estate that they sold a year later for $20 million to former Google CEO Eric Schmidt. In 2013, the couple spent $28.8 million for a Montecito property and flipped it for $34 million to Netflix head Ted Sarandos. In 2017, they paid $7.2 million for a Montecito ranch and flipped it quickly for $11 million to Tinder head Sean Rad. In late 2017, the couple paid $18.6 million for a waterfront property sold to cosmetics mogul Jamie Kern Lima for $23 million two years later. They then purchased a Bali-style mansion for $29 million and sold it for $33.3 million to a mystery billionaire. In August of 2020, they paid $27 million for a Tuscan-style Montecito mansion and flipped it immediately for $29 million.

Other notable residents in Montecito include Rob Lowe, who owns several properties and recently sold his massive “Oakview” estate for $45.5 million, Katy Perry, who paid $14.2 for a hilltop mansion, Ariana Grande who bought a 5,500 sf house from Ellen DeGeneres for $6.7 million, and longtime resident Oprah Winfrey, who famously owns a massive 23,000 sf estate called The Promised Land worth around $100 million. Oprah also owns a 23-acre luxurious equestrian horse ranch in Montecito ranch for $28.8 million.

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