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2347 East Valley Road · Resort-style pool at sunset, Stalloreggi Estate, Montecito

Vinci Collection · Advisory Brief · Stalloreggi Estate

2347 East Valley Road

Montecito, California 93108

The Hadid Family Estate · Stalloreggi Ranch · Mediterranean by the Valley Club

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Capital Seek$700K – $1MConstruction + reserves
Target Exit$8.25M – $9.95MConservative · Middle · Aggressive
Hold Period9 Months90-day build + sale
Value Creation2× CapEx$920K remodel → $1.84M uplift
I.The Property

Scale, Provenance, and the Quiet Side of Montecito.

A landmark Spanish Revival estate defined by its signature red-tile roof, arched loggias, and hand-crafted ironwork — hallmarks of the style that made Santa Barbara famous. Set on a private acre with a resort-style pool and hot tub, the grounds unfold through lush gardens, a motor court, and a gazebo with sweeping sunset views over the Santa Ynez Mountains.

Owned by the Hadid family for nearly twenty years and bordered by the Valley Club golf course, the estate sits within Stalloreggi — one of Montecito's most quietly held enclaves. Riley Bechtel's San Carlos Ranch is across the street; the Upper Village and San Ysidro Ranch are minutes away.

Acquired and held by 2347 East Valley LLC, the property is renovation-ready, STR-capable today, and prepared for a 90-day cosmetic refit under a fix-and-repair permit — no demolition, no structural work, no reconfiguration.

✦ Grand Living Room

Soaring vaulted ceilings with exposed beams and arched doorways — the architectural language that made Santa Barbara famous.

✦ Chef's Kitchen

Dual marble islands, ornate wood cabinetry, brass fixtures — refit in Phase 1 with new Wolf and Sub-Zero appliances inside the existing footprint.

✦ Motor Court

Covered porte-cochère with wagon-wheel chandelier, opening to a private acre of lush gardens, gazebo, and resort-style pool.

Total Sq. Ft.
7,146
Lot Size
≈ 1 Acre
Bedrooms
6 BD
Bathrooms
7 BA
Year Built
1990
Style
Spanish Revival
Subdivision
Stalloreggi
Provenance
Hadid Family · 20 yrs
Adjacent
Valley Club
School District
Montecito Union

Stalloreggi Estate · Montecito · Owned by 2347 East Valley LLC · $4,900,000 JP Morgan · 5.125% fixed (10 yr) · variable through 2054

II.Plates

Fourteen frames of the estate.

Click any plate to enlarge. Use ← / → to step through the gallery, or ESC to close.

III.The Vision

A 90-day, fix-and-repair refit. No demo. No structural. Just the right cosmetic moves.

The estate is renovation-ready and STR-capable today. Under a fix-and-repair permit issued in ten days, two short construction phases bring the home to current-buyer standards — flooring, kitchens, baths, hardware, hardscape — without removing a single wall or moving a single fixture footprint.

Total budget of $910,000 against a projected $1.82M uplift — a 2× return on capital expenditure.

Days 1 – 90

Phase I — STR Ready

Budget
$545,000
  • Flooring
    Blonde French engineered hardwood installed over existing subfloor
    $160K
  • Kitchen
    New cabinets + Wolf / Sub-Zero appliances · no layout change
    $180K
  • Hardscape
    Terrace, front entrance, patio & pool area (~1,500 sq ft) + chip-seal driveway
    $85K
  • Landscaping
    New trees, mulch, decomposed granite, gravel paths
    $70K
  • Paint / Fixtures
    Interior doors, exterior trim, plumbing fixtures
    $55K
Days 90 – 120

Phase II — Sale Ready

Budget
$365,000
  • Master Bath
    Venetian plaster + high-end marble tile · cosmetic only
    $40K
  • Lower Kitchen
    Cabinets, appliances + fixtures inside existing footprint
    $70K
  • Hardware / Trim
    All-new hardware throughout + drywall patching & paint
    $80K
  • Fireplaces
    New plaster & stone on three to four fireplaces
    $25K
  • Misc / Contingency
    Allowances, reserves, photography & staging
    $30 – $50K
Total Remodel
$910,000→$1,820,000 projected uplift· 2× CapEx return
IV.Deal Timeline

Nine months, five movements.

From signing through close of escrow. Total hold: ~9 months · 90-day build + 60-day marketing + 60–90-day escrow. Fix-and-repair permit only — no demolition, no structural changes.

  1. I.Week 1 – 2

    Agreement & Funding

    LLC membership pledge recorded · Operating agreement executed · Draw 1 of 3 (40%) · Fix-and-repair permit filed Day 1, issued Day 10.

  2. II.Days 1 – 90

    Phase 1 Construction

    STR-ready scope: hardwood, kitchen, hardscape, landscaping, paint. Draw 2 of 3 (40%). STR revenue target $100K during build (accrues to David).

  3. III.Days 90 – 120

    Phase 2 Construction

    Sale-ready scope: master bath, lower kitchen, hardware, fireplaces, staging. Draw 3 of 3 (final 20%).

  4. IV.Days 120 – 180

    Listing & Marketing

    Riskin Partners · Cristal Clarke · Nancy Kogevinas. Off-market outreach begins at Phase 2 completion. List $9.15M–$9.5M; accept ≥ $8.25M. Target buyers: Hollywood, Silicon Valley, Texas / Midwest UHNWI · 1031 buyers.

  5. V.Days 180 – 270

    PSA → Close

    17-day diligence (Montecito norm) · 30–45-day escrow · JP Morgan loan retired at COE · Waterfall executed per agreement.

V.Exit Scenarios & Waterfall

Three priced outcomes. One disciplined waterfall.

Conservative below the floor of the as-is comp set, middle at the most likely market list, aggressive at the renovation-justified ceiling. Distributions follow the same sequence in every case — only the partner profit split changes per track.

Floor

Conservative

Sale Price
$8.25M
Closing Costs (~2.5%)
($206K)
Net Proceeds
$3.14M
Above-Floor Pool
$2.04M
GC Track
103.2%
1.70× MOIC
Cash Investor
67.7%
1.47× MOIC
Most Likely

Middle

Sale Price
$9.15M
Closing Costs (~2.5%)
($229K)
Net Proceeds
$4.02M
Above-Floor Pool
$2.92M
GC Track
189.3%
2.22× MOIC
Cash Investor
116.3%
1.78× MOIC
Ceiling

Aggressive

Sale Price
$9.95M
Closing Costs (~2.5%)
($249K)
Net Proceeds
$4.80M
Above-Floor Pool
$3.70M
GC Track
271.7%
2.68× MOIC
Cash Investor
161.9%
2.06× MOIC

Distribution Waterfall

Applied at close of escrow · in strict order
  1. 01Gross Sale Proceeds$8.25M / $9.15M / $9.95MThree scenarios
  2. 02Less Closing Costs (~2.5%)($206K / $229K / $249K)Broker, escrow, title
  3. 03Less JP Morgan Loan Payoff($4,900,000)Full balance retired at COE
  4. 04Net Proceeds Available$3.14M / $4.02M / $4.80MDistributable pool
  5. 05David's Equity Return$1,100,000First priority
  6. 06Above-Floor Pool$2.04M / $2.92M / $3.70MTriggers partner repayment
  7. 07Partner Capital Repaid (100%)$700K – $1MFull return before any split
  8. 08Cash Investor Pref Return (10%)$53K – $75KCash investor only · GC: N/A
  9. 09Remaining Profit SplitGC: 50 / 50 · Investor: 70 / 30Per track agreement

STR income of $100K accrues to David during the hold and is not part of the partner waterfall.

VI.Two Partner Tracks

Choose how you show up on the project.

The same waterfall, two ways in. The GC Partner contributes capital and labor, taking a larger share above the floor. The Cash Investor takes a passive position with a 10% preferred return and a smaller share. Both are secured by an LLC membership pledge.

Track A50 / 50 above floor

GC Partner

Fund $700K – $1M and perform the construction.

An established luxury residential general contractor in Santa Barbara or Ventura who funds the construction reserve and performs the work. Capital doubles as fee — there is no separate GC charge. Lower cash-at-risk profile because labor is embedded in the investment, with capital returned first from proceeds above the $6M net floor.

  • →Capital returned first from proceeds above $6M net
  • →50 / 50 split on all proceeds above $6M net
  • →No separate GC fee — investment IS the contribution
  • →Security: pledge of LLC membership interest in 2347 East Valley LLC
GC IRR (range)
103% – 272%
Equity Multiple
1.70× – 2.68×
Track B70 / 30 above floor + 10% pref

Cash Investor

Fund $700K – $1M. David manages the build.

A passive position for an HNWI, family office, or physician investor. David Gamperl manages every contractor and draw; the investor reviews milestones and approves draws. A 10% accrued preferred return runs daily on outstanding capital, with first-loss overrun protection up to 10% absorbed by the sponsor.

  • →10% accrued preferred return on outstanding capital
  • →70 / 30 split on all proceeds above $6M net (sponsor / investor)
  • →Three-tranche draw schedule tied to milestones
  • →First 10% of any cost overrun absorbed by David
Investor IRR (range)
68% – 162%
Equity Multiple
1.47× – 2.06×

Three-tranche draw schedule (40 / 40 / 20) tied to milestones · capital returned first before any profit split · STR income during hold accrues to the sponsor and is not part of the partner waterfall.

VII.Market Intelligence · Montecito 93108

A 20-year low in supply. A widening gap in price-per-foot.

Montecito ended 2025 with an average $/sq ft of $2,274and just ~65 active listings — the tightest supply window in two decades. Our post-renovation price-per-foot range of $1,154 – $1,392 sits well below the market, leaving room for a disciplined buyer to act with conviction.

$7.04M
2025 Average Sale, 93108
Montecito calendar-year average
$2,274
2025 Average $/Sq. Ft.
MK Group 2025 Year-End Report
15
Sales Over $20M in 2025
Ultra-luxury tier active, not frenzied
~65
Active Listings (20-yr Low)
80%+ cash transactions

Comparable Sales

Nov 2024 – May 2026 · MLS · Siteline SB · Kogevinas Group · Edhat
AddressType / NotesSq FtPrice$/Sq FtDateStatus
620 Stonehouse LnMediterranean · Don Nulty / S. Hermann redesign · 5bd / 6.5ba · 1ac · Pool · ~250 yds from subject6,416$19,700,000$3,0722026Active
1567 East Valley RdFrench Country · 6bd / 8ba · 1.5ac · Same street · Built 19918,119$17,900,000$2,2042025Active
869 Knollwood DrMediterranean · 6bd / 6.5ba · 1.91ac · Gated · Pool · MUS · Best direct comp7,864$12,250,000$1,558Mar 2026Sold
1029 Alston RdMediterranean · 5bd · 1ac · Listed $7.975M · reduced twice · floor comp for as-is—$6,780,000—Sep 2025Sold
Golden QuadrangleRanch-style · 3bd / 3.5ba · 1.02ac · Ocean & mtn views · well-located4,211$8,460,000$2,009Jan 2026Sold
1077 Summit RdCottage style with gardens · listed $8.995M · two price cuts—$7,780,000—2025Sold
1988 Inverness LnMid-century · R. Garland architect · Birnam Wood gated · 3bd · Pool2,634$9,990,000$3,793Feb 2025Sold
1545 East Valley Rd6-acre compound · Upper Village adjacent · off-market · same street—$47,590,000—Oct 2025Sold
2347 EVR (Subject) — Post-Reno7,146 sf · 6bd · ~1ac · Mediterranean · Stalloreggi · MUS · Valley Club adj.7,146$8.25M – $9.95M$1,154 – $1,392Target exitSubject

Montecito 93108 stats: 2025 avg sale $7.04M · 2026 YTD avg ~$6.4M · 2025 avg $2,274/sq ft · 15 sales over $20M in 2025 · ~65 active listings (20-yr low) · 80%+ cash transactions · deals concentrated $8M – $14M.

IX.The Vinci Advantage

What it means to have Vinci on the deal.

01

Independent Underwriting

Every assumption — comp set, $/sq ft target, hold cost, broker spread — is documented and stress-tested. The waterfall is unambiguous and pre-agreed.

02

Repeat Sponsor

Six fully-exited projects across Montecito, Chicago, New Buffalo and Carpinteria — including 2222 East Valley, two streets from the subject. Skin in the game on every deal.

03

Aligned Structure

Capital returned first from above-floor proceeds. 10% accrued pref for cash investors. LLC membership pledge as security. First 10% of cost overrun absorbed by sponsor.

Ready to move forward

This window won't last.

Montecito's $8M – $14M tier is moving on conviction, not consensus. If 2347 East Valley Road aligns with how you deploy capital, we'll prepare a full financial model, construction budget and partnership agreement under NDA — typically within 72 hours.

Schedule a ConsultationEmail David Directly
David Gamperl · Vinci Collection ·[email protected]·312.933.0050

974 Park Lane · Montecito, California 93108