>>>>>alt=”283 Ellwood Beach Drive [0]” >alt=”283 Ellwood Beach Drive [1]” >alt=”283 Ellwood Beach Drive [2]” >alt=”283 Ellwood Beach Drive [3]” >alt=”283 Ellwood Beach Drive [4]” >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
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
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