Equestrian estate in Montecito asking $125 million

A 237-acre equestrian estate has come on the market at $125 million in Montecito – an area known for old money, billionaires and celebrity owners such as Oprah.

Called Rancho San Carlos, the property has been held by the same family for nearly a century and centers on a Monterey Colonial with 30 rooms and about 29,000 square feet of living space.

The gated hilltop mansion, built in 1931, sits surrounded by citrus groves at the end of a curving drive edged with local stone. Equestrian facilities, 10 cottages and an office building are also on the site.

Architect Reginald Johnson designed the main home to take advantage of the water and mountain views.

Inside, a barrel-vaulted central hall lined with hand-painted period murals and display cases looks out onto a courtyard with fountain.

Oak paneled rooms are outfitted with details repurposed from a 1920s manor home in Great Britain including finials, moldings and mantle pieces. The oversized living room, with two fireplaces and crystal chandeliers, opens to an ocean-view terrace.

The living room is connected to a library by a secret passageway. Behind a hidden door is a staircase that leads down to a discrete whisky pub with casks, an oak bar and a stone fireplace.

The dining room has a stone terrace that overlooks formal flower gardens. Beyond the dining room are two butler’s pantries, a staff dining room, lounge and sitting room and three service bedrooms.

The upstairs bedroom wings include a master suite with a fireplace, a dressing room with built-in storage and a bathroom with a dressing area. A tower office sits above the master suite. There are 12 bedrooms, 10 full bathrooms and three partial baths.

Among equestrian features are a round 10-stall barn that dates to 1928, an 11-stall barn and a covered 11,250-square-foot riding arena built in 1930.

Harry Kolb and Suzanne Perkins of Sotheby’s International are the listing agents.

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