Oceanfront home next to Gavin Herbert’s Casa Pacifica sells for $34M

2nd Among OC Sales; Near Casa Pacifica

A 12,854-square-foot estate in the gated Cotton Point Estates neighborhood of San Clemente has sold for about $34 million, marking one of the top luxury home sales of 2021.

The home at 4130 Calle Isabella, the southernmost home along the coast of the city, has been on and off the market for several years; its sale marks the highest-price home transaction on record for the city.

It’s the second-priciest reported home sale in Orange County this year, trailing the $41 million deal in March for 28 Midsummer, a nearly 19,000-square-foot home in Newport Beach’s Crystal Cove.

Business Exec Seller

The seven-bedroom, 10-bathroom home was built in 2007, and has counted the same ownership since 2002, when local business executive Martin Colombatto acquired the 3-acre property, records indicate.

Colombatto is currently a partner at venture capital firm Seven Peaks Ventures LLP, and previously counted leadership ties at Broadcom, which still has a sizeable Irvine presence.

The home was first put on the market in 2016 for $55 million, but it has seen several listing changes since.

Seth Nelson and Ariana Gaffoglio of Douglas Elliman represented the seller in the recent sale; Compass’ Rob Giem represented the undisclosed buyer.

Amenities at the oceanfront estate include a sport court, 55’ oceanfront pool, an event lawn and about 450 feet of private beach access.

The property includes a two-story main residence, a two-bedroom guest house and a nine-car garage.

Western White House

The recently traded home is adjacent to Casa Pacifica, the 5.5-acre San Clemente estate that was home to former President Richard Nixon.

The home, dubbed the Western White House, is currently on the market with a $65 million asking price. It’s owned by Gavin Herbert Sr., the founder of Allergan.

The property has been on and off the market for several years; it was last listed for $57.5 million in 2019 before being pulled.

Giem has the listing for the property, which includes nine bedrooms, 14 bathrooms and sprawling lawns and gardens among other extravagant amenities.

“These two homes represent the only oceanfront properties with several acres of usable property,” Giem said. “It’s unique to find large, level parcels of land on the ocean.”

The Cotton Point Estates home has counted just three owners throughout its nearly 100-year-old history.

This includes Nixon, who acquired the mansion in 1969 from Victoria Carson Cotton, the widow of Henry H. Cotton, the financier and co-developer of the city of San Clemente.