Drew Barrymore Buys Montecito Mansion

Jan. 1 2011, Published 6:15 a.m. ET

Drew Barrymore is moving on up. The actress/producer/director just plunked down $6.9 million for an estate near Santa Barbara, RadarOnline.com has confirmed.

Drew will count Jeff Bridges, Rob Lowe, and Oprah among her neighbors in the super-wealthy enclave of 10,000 residents.

Drew's new digs include a six bedroom, five bath, three-story Mediterranean-style mansion on over three acres. There's the required state-of-the-art kitchen, pool and spa.

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Drew had been spotted house-hunting for several months, driving the golden streets of Montecito in her funky slightly beat-up older car.

Welcome to the neighborhood!

UPDATE: We told you last week that Drew Barrymore has a new mansion in celebrity friendly Montecito. Yes she does, but the Real Estalker says it’s not the house everyone was pointing to. Barrymore’s new joint is a 2-acre plus estate purchased for $5,705.000. The colonial style mansion has five bedrooms, six full and two half baths, a guesthouse plus a glassed-in lanai but no swimming pool or tennis court.