Multifamily Investment Opportunity
Multifamily | 6 Units
Marketing description
Located in the desirable Ellwood Beach neighborhood of the City of Goleta, this six-unit apartment property offers a highly attractive unit mix of four 2-bedroom, 1.5-bath townhomes—each featuring a private patio—and two 1-bedroom, 1-bath flats. Residents enjoy an exceptional coastal lifestyle, with the Ellwood Beach Preserve, scenic hiking and walking trails, pristine beaches, and bike paths all within walking distance. The property is also conveniently situated near the intersection of Hollister Avenue and Storke Avenue, providing immediate access to five shopping centers offering a wide array of dining, retail, and everyday amenities. Its strategic location near Goleta’s prominent Office and Technology Parks and the University of California, Santa Barbara positions the property to attract and sustain a diverse tenant base, including families, young professionals, and students alike.
Investment highlights
INVESTMENT DETAILS
Price: $2,195,000
Price Per Unit: $365,833
Cap Rate: 4.58% (current) 5.02% (AB 1482) 6.18% (market)
GRM: 13.53 (current) 12.71 (AB 1482) 10.97 (market)
PROPERTY DETAILS
APN: 079-554-007
Units: 6
Unit Mix: 4 x 2BD/1.5BA 2 x 1BD/1BA
Rentable SF: 4,710 SF
Land Size: 6,970 SF
Zoning: RH
Year Built: 1970 (approx.)
Parking: 5 uncovered
Laundry: Yes, common laundry room
Utilities: Separately metered for electricity
Inspections: CLA
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