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.
Property Details
Price:
$4,150,000
MLS #:
V1-16221
Status:
Closed ((Apr 17, 2023))
Baths:
0
Address:
283 Ellwood Beach Drive
Type:
Residential Income
Neighborhood:
GLTA – Goleta
City:
Goleta
Listed Date:
Jan 4, 2023
State:
CA
ZIP:
93117
Lot Size:
10,018 sqft / 0.23 acres (approx)
Year Built:
1970
See this Listing
Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
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Schools
Interior
Appliances
Electric Range
Cooling
None
Fireplace Features
None
Heating
Wall Furnace
Exterior
Community Features
Biking
Fencing
None
Garage Spaces
0.00
Lot Features
Sprinklers None
Parking Features
Uncovered
Pool Features
None
Spa Features
None
Stories Total
2
View
None
Financial
Association Fee
0.00
Map
Community
- Address283 Ellwood Beach Drive Goleta CA
- AreaGLTA – Goleta
- CityGoleta
- CountySanta Barbara
- Zip Code93117
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Courtesy of Beachside Partners. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.283 Ellwood Beach Drive
Goleta, CA
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