Sold
283 Ellwood Beach Drive
Goleta CA, 93117
$4,000,000
Sold
Residential
Built in 1970
Listed by Nicholas Henry with Beachside Partners (805) 453-5097
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
March 23, 2024
Updated
Map
283 Ellwood Beach Drive
Goleta CA, 93117
Interior Features
Total Stories
2
Appliances
Electric Range
Laundry Description
Laundry Room
Fireplace
Yes
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
Buyer Agency Compensation
2.25%
Listing History
Date | Event | Price |
|---|---|---|
5/18/2023 | Sold | $4,000,000 |
Listing Contact: (805) 453-5097
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Data last updated on 3/23/2024 at 1:29 AM UTC