Rob Lowe’s $46 million sale in Montecito apparently prefigured a portfolio diversification. The actor has now purchased three new residential properties in Southern California in the ten weeks since he passed papers on his 2009-built, 10,000 sq. ft. mansion in Santa Barbara County.

One of the new properties is located in Beverly Hills; Lowe purchased the 1950-built, 3,000 sq. ft. modern-style home for $3.75 million. He then cast his eyes southeast once again, and picked up a pair of properties back in Montecito, the first of which is a cozy Spanish-style for which Lowe paid $5.2 million against a $4.95 million asking price.

The second Montecito house new to Lowe may be viewed below. It’s an Italianate set on a splendidly bucolic 6.7-acre lot, and it contains five bedrooms and six baths in its nearly 6,000 sq. ft. of interiors. The estate is titled Stonehedge, and has likely been earmarked by its new owner as a primary residence.

The landscaping that frames the home features a variety of plantings, and gives the property the languid, Mediterranean feel that makes the area so popular. The home’s architecture features a loggia as part of the façade, as well as a variety of balcony and terrace space, suggesting an easygoing warm-weather lifestyle in no uncertain terms.

The main house was built in the mid-1920s, and its stucco exterior is suitably weathered. Inside the home, period details abound—lamp sconces, Saltillo tile floors, dramatic arches, and exposed beams, and nary a recessed light fixture in sight. As a whole, it’s a convincing postcard vision of a secluded Montecito idyll, and thus it charmed Mr. Lowe out of $13 million.

The house is one of three structures on the property. A small cottage or studio, and a guest house, augment the accommodations and amenities.

An unusually fine property.