$3,235,000
$3,600,000
10.1%For more information regarding the value of a property, please contact us for a free consultation.
406 Ellwood Beach DR Goleta, CA 93117
16 Beds
12 Baths
6,819 SqFt
Key Details
Sold Price $3,235,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 6,819 sqft
Price per Sqft $474
MLS Listing ID 26667697
Sold Date 07/21/26
Bedrooms 16
HOA Y/N No
Lot Size 0.260 Acres
Property Description
-Prime Coastal Location: Located steps from Ellwood Beach in the highly sought-after Goleta submarket of Santa Barbara County, benefiting from strong renter demand driven by proximity to UCSB, Isla Vista spillover, and major South Coast employment centers. -Desirable Unit Mix: Two-bedroom layouts align with strong local demand from students, young professionals, and shared living arrangements common in the UCSB-adjacent rental market. -Clear Rental Upside: Current rents average $2,845 for two-bedroom/one-bath units and $3,031 for two-bedroom/two-bath units, while renovated units achieve $3,200 per month, demonstrating immediate mark-to-market potential. -Proven Renovation Strategy: Upgrades including new appliances, water heaters, interior paint, and modern finishes have been completed for approximately $40,000 per unit, establishing a repeatable value-add model. -Additional Income Stream: On-site laundry generates approximately $6,000 in annual ancillary income. -Favorable Regulatory Environment: Goleta follows California's AB 1482 rent cap (5% + CPI, max 10%) and has not implemented stricter local rent control, unlike nearby Santa Barbara, Oxnard, and Ojai. -Supply-Constrained Market: Limited new development along the Santa Barbara South Coast continues to support long-term rent growth for well-located coastal assets.
Location
State CA
County Santa Barbara
Area Glta - Goleta
Interior
Fireplace No
Building
Story 1
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 079551016
Special Listing Condition Standard
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Bought with Michael Lopus Colliers International