Sold

Closed

283 Ellwood Beach Drive

Goleta CA, 93117

$4,000,000


Sold

Closed

Residential

Built in 1970

Great value-add opportunity to acquire 12-unit Goleta apartment building that is on the market for the first time in 45 years. Convenient location for tenants with easy access to UCSB, major tech employers, Camino Real Marketplace and Monarch Butterfly Grove. Features (11) 1BD/1BA apartments and (1) studio with a mix of carport and uncovered parking along with onsite laundry room. Building is all electric and has individual electric meters and individual water heaters. Recent improvements include all new asphalt driveway, sewer lateral repaired, section 1 pest spot treatment completed. Roof is 10 years old. Current rents below market. One unit to be left vacant through close of escrow. Major upside in rental income potential can be realized by a new owner through a modernization of interiors. 6.0% Cap Rate on market rents. Several property inspection reports available upon request.

V1-16221

MLS ID

January 4, 2023

Listed

September 27, 2024

Updated

Map

283 Ellwood Beach Drive
Goleta CA, 93117

Interior Features

Total Stories

2


Appliances

Electric Range


Laundry Description

Laundry Room


Fireplace

No


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.23 Acres


Lot Features

Sprinklers None

Other Property Details

Area Name

GLTA - Goleta


Days on Market

55


Garage

No


Parking

Uncovered


Parking Total

13


View

No


View Description

None


County

Santa Barbara


Pool

No


Pool Features

None

Listed by Nicholas Henry, Beachside Partners, CA DRE 01748131

Listing Contact: (805) 705-7311 

Based on information from the CRISNet MLS as of 9/27/2024, 10:33 PM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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