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Bruce Kang, Broker
431 Ellwood Beach Drive, Goleta, CA 93117
- $2,900,000
- List Price
- $2,900,000
- Status
- ACTIVE
- Days on Market
- 97
- MLS#
- V1-37442
- Subtype
- Residential Income
- Year Built
- 1970
- Lot Size
- 10,454
- Acres
- 0.24
- Subdivision
- Not Applicable
- Neighborhood
- Not Applicable
- MLS Area Major
- Goleta (GLTA)
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.
Additional Information
- Interior Features
- Balcony, High Ceilings
- Zoning
- R-MR
- Flooring
- Carpet, Vinyl
- Appliances
- Electric Cooktop, Microwave
- Heating
- Radiant
- Exterior Construction
- Drywall, Other
- Stories
- Two Levels
- Levels
- Two
- Roof
- See Remarks
- Pool Type
- None
- Parking Features
- Attached Carport, Off Street, Paved, Uncovered
- View
- None
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.