Movie mogul, CoverGirl, Golden Globe winner, film director and producer; the list of credentials for Hollywood starlet, Drew Barrymore, is never-ending. With the purchase of a Montecito estate for $5,705,000, she can now add the description, “resident to one of America’s most expensive neighborhoods” to the bunch.

Last week, the celebrity real estate train caught wind that the actress was moving to the spendy area by way of a Lutah Maria Riggs-designed estate on Hot Springs Road. As it turns out, those that broke the news pin-pointed the wrong Mediterranean abode. According to Real Estalker, the estate Miss Barrymore is truly connected to is a 5-bedroom, 7-bathroom Monterey Colonial just a few short strides down the street.

Barrymore’s new Montecito home was built in 1937 and is tucked away on two beautiful acres adorned with abundant gardens, avocado trees and manicured lawns. The house boasts 6,000-sq ft of living space divided between a master and guest wing. The master suite features large dressing areas and access to a private garden of sycamores and giant oak trees. Additional bedrooms, all of which feature a private bath, can be found in the guest wing. Miss Barrymore scooped up the one-of-a-kind property at a one-of-a-kind price, too. While the $5 million purchase price is far above the average $2 million list price range in the Montecito area, the Zillow Price History Chart shows that Barrymore negotiated over $1 million off the original $6.9 million asking price for the home. It looks like she can add ‘thrifty negotiator’ to her credential list too.

> See more Montecito real estate

> See Montecito home values

About the Author

Lauren Riefflin manages news around Zillow Mobile communications and works closely with Zillow's real estate economists in preparing Zillow's real estate market reports. She also focuses on celebrity real estate news as both a Zillow Blog author and manager of celebrity content relationships.

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