Goleta, CA 93117,283 Ellwood Beach Drive
Goleta, CA 93117,283 Ellwood Beach Drive
Goleta, CA 93117,283 Ellwood Beach Drive
Goleta, CA 93117,283 Ellwood Beach Drive
Goleta, CA 93117,283 Ellwood Beach Drive
Goleta, CA 93117,283 Ellwood Beach Drive
See all 6 photos

$4,000,000

$4,150,000

3.6%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

1 Bed

2 Baths

10,018 Sqft Lot


SOLD DATE : 04/17/2023

Key Details

Sold Price $4,000,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID V1-16221

Sold Date 04/17/23

Bedrooms 1

HOA Y/N No

Lot Size 10,018 Sqft

Property Description

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.
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.

Location

State CA

County Santa Barbara

Area Goleta (93117)

Zoning Estimated

Building

Story 2

Lot Size Range 7500-10889 SF

Level or Stories 2 Story

Others

Acceptable Financing Conventional

Space Rent $1,927

Listing Terms Conventional

Financing Cash

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


San Diego Regional MLS (SDMLS)
Listed by Nicholas Henry • Beachside Partners
Bought with Stephen Leider • Lee and Associates
agent-avatar

+1(858) 449-1101

theresa@octagonre.com

1420 Kettner Blvd, Suite 100, Diego, CA, 92101, United States

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.