431 Ellwood Beach Drive, Goleta, CA, CA 93117
- $2,900,000
- List Price
- $2,900,000
- Status
- ACTIVE
- MLS#
- V1-37442
- County
- Santa Barbara
- Year Built
- 1970
- Square Feet
- 10,454
- Days on Market
- 22
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- Not Applicable
Property Description
Offered for the first time in decades, 431 Ellwood Beach Drive presents a rare opportunity to acquire a seven-unit apartment community in one of Goleta's most desirable coastal neighborhoods, just a few blocks from Ellwood Beach. Comprised of spacious two-bedroom, two-bathroom units, the property generates strong in-place income at a 5.20% current cap rate. Many units feature updated flooring, while two upstairs residences benefit from vaulted ceilings that enhance the sense of space and natural light. Tenants also benefit from off street covered parking and storage. Located just moments from Ellwood Beach, Ellwood Mesa Open Space, UCSB, and Goleta's major employment centers, the property offers an exceptional blend of coastal living and everyday convenience. With its attractive unit layouts, well-maintained condition, and irreplaceable location near the coast, 431 Ellwood Beach Drive represents a rare multifamily investment opportunity in one of Santa Barbara County's most sought-after rental markets.
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Additional Information
- Parcel Number
- 079553005
- Gross Scheduled Income
- $245,028
- Operating Expense
- 88211
- Net Operating Income
- $150,746
- Number of Buildings
- 1
- Lot Features
- Near Park, Sprinklers None
- Security Features
- Smoke Detector(s)
- Appliances
- Electric Cooktop, Microwave
- Heat
- Radiant
- View
- None
- Exterior Construction
- Drywall, Other
- Roof
- See Remarks
- Carport Spaces
- 2
- Community Features
- Biking, Golf, Hiking, Preserve/Public Land, Park
Listing courtesy of Listing Agent: Steven Golis (sgolis@radiusgroup.com) from Listing Office: Radius Group Commercial RE.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.