Outside, it’s part private park, part sanctuary. Inside, it’s an elegant, designer hideaway worthy of a magazine centerfold. Altogether, it’s a compound for the ages and the latest trophy to hit a surging luxury real estate market in Montecito, Calif.

Called Mira Vista, the sprawling estate of more than 28 acres listed for sale last week for $72.5 million. The Grubb Cambell Team at Village Properties, led by Natalie Grubb-Cambell, holds the exclusive listing.

The property, dotted by mature oaks and approached by a meandering drive, centers on a graceful residence of nearly 13,800 square feet with five bedrooms and 6.5 bathrooms. Two historical cottages dating to the 1930s, a four-stall barn, a gatehouse, a riding ring and a tack room are among other structures on the estate.

Tall hedges conceal a swimming pool area and changing rooms on the verdant grounds. The 50-foot-long swimming pool and separate spa are surrounded by a checkerboard-patterned stone, while the pool’s mosaic tilework draws the eyes to its depths.

Built in 2013, the primary residence opens through tall glass doors that flood the vaulted entry with natural light. Arched doorways across the hallway open to a bright sitting area that takes in an unobstructed ocean view.

Handcrafted millwork, custom prints and colorful accents lend a distinctive character to each of the formal rooms. The formal rooms include multiple sitting areas, a wet bar and a dining room with seating for seven.

Designed for entertaining, the chef’s kitchen is outfitted with a dual island, high-end appliances and a butler’s pantry.

Two separate offices and a whimsical theater with its own stage round out the floor plan. The primary suite, located on a separate wing, expands to include dual walk-in closets, dual bathrooms and a covered fitness area.

The Sycamore Canyon Road compound comes up for sale as Montecito’s real estate market continues to reach new heights.

Last year, the coastal neighborhood saw a 66% increase in residential sales when compared with the previous year. According to Village Properties, the run on Montecito real estate resulted in home prices appreciating roughly 20-30% in 2020.

Montecito’s luxury sector, in particular, has continued to see a high demand for luxury homes in 2021. Among recent headlines was actor Rob Lowe’s purchase of three brand new Montecito homes totaling about $47 million. Musician and television personality Adam Levine and his wife, model Behati Prinsloo, are among others who reportedly purchased a Montecito home this year.

Village Properties is an exclusive member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.