$3,600,000 USD
805-410-2992
406 Ellwood Beach Dr
Goleta, CA 93117
West Santa Barbara
HIGHLIGHTS
- Prime Goleta coastal location steps from Ellwood Beach and near UCSB, driving strong rental demand.
- Eight-unit apartment community with desirable two-bedroom layouts ideal for students and professionals.
- Clear rental upside with current average rents below market and renovated units achieving $3,200/month.
- Recent renovations include new appliances, water heaters, and modern finishes at $40,000 per unit.
- On-site laundry generates approximately $6,000 in annual ancillary income for additional revenue.
- Offered at a 5.05% cap rate with $181,627 NOI and $527.94 price per SF.
FOR SALE DETAILS
PRICE
$3,600,000 USD
PRICE/SF
$528 USD /SF
# OF UNITS
8
PRICE/UNIT
$450,000
CAP RATE
5.05%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1968
PARKING SPACES
24
LAND DETAILS
LAND ACRES
0.26 AC
LAND SF
11,326 SF
ZONING
-
APN/PARCEL ID
079-551-016
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805-410-2992
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805-410-2992
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